The Stochastic Momentum Index (SMI) is a useful Forex indicator available for the widely-used MetaTrader 4 (MT4) platform. As a popular and free indicator, many traders rely on the SMI to gauge momentum in the market. The SMI works by comparing the closing price of a currency pair to the midpoint of the high/low range over a certain period. This calculation results in a value that oscillates between -100 and +100, with levels above +40 indicating bullish momentum and levels below -40 indicating bearish momentum. Traders can use the SMI to identify potential trend reversals, overbought or oversold conditions, and divergence between price and momentum. By incorporating the SMI into their trading strategy, traders can make more informed decisions and improve their overall performance in the Forex market.
MT4
![](https://www.mt4collection.com/wp-content/uploads/2024/03/Smi-screenshot-1-230x144.png)
![](https://www.mt4collection.com/wp-content/uploads/2024/03/Smi-screenshot-2-230x144.png)
![](https://www.mt4collection.com/wp-content/uploads/2024/03/Smi-screenshot-4-230x144.png)
![](https://www.mt4collection.com/wp-content/uploads/2024/03/Smi-screenshot-3-230x144.png)
SMI Indicator
SMI Indicator MT4 is a useful Forex indicator that is popular among traders for its accuracy and reliability. This free indicator works by measuring the momentum of a currency pair to help traders identify potential trends and reversals in the market. It is easy to use and can be a valuable tool for traders of all levels in their trading strategies.
Indicator Type | |
---|---|
Trading Style | , |
Timeframe | , |
Platform |
0
People watching this product now!
Category: Stochastic
Downloads - 2
Description
Reviews (0)
Be the first to review “SMI Indicator” Cancel reply
How to Install
How install MT4/5 indicator in the terminal?
To install an MT4/5 indicator in the terminal, follow these steps:
Download the indicator file (.ex4 or .mq4/.ex5 or .mq5) to your computer.
Open the MT4/5 terminal and click on “File” in the top left corner.
Select “Open Data Folder” from the dropdown menu.
In the window that opens, double-click on the “MQL4/5” folder.
Double-click on the “Indicators” folder.
Drag and drop the indicator file from your computer into the “Indicators” folder.
Close the data folder window and restart the MT4/5 terminal.
The indicator should now be available in the “Navigator” window on the left-hand side of the terminal. Simply double-click on the indicator to add it to a chart.
Note: If the indicator is in a .zip file, you will need to extract it first before following the above steps.
And if asks to confirm DLL?
If the indicator you are installing requires access to external Dynamic Link Libraries (DLLs), you may see a pop-up message asking you to confirm the use of DLLs.
DLLs are external libraries that contain code that can be used by other programs. In the case of MT4/5 indicators, they are often used to perform complex calculations or connect to external data sources.
If you trust the source of the indicator and want to use it, click “Yes” to confirm the use of DLLs. If you are not sure or do not trust the source, click “No” to cancel the installation.
It’s worth noting that some indicators may not work properly without access to their required DLLs. If you choose not to allow access to DLLs and the indicator does not work as expected, you may need to reinstall the indicator and confirm the use of DLLs to get it to work properly.
Related products
Synthetic VIX
The Synthetic VIX Indicator is a popular and free Forex indicator for the MT4 trading platform. The indicator utilizes a combination of price action and signals from multiple time frames to accurately predict market movements. The Synthetic VIX indicator can be used to identify potential entry and exit points in the market, as well as to identify trend reversals and breakouts. It is designed to provide traders with an easy to use and reliable indicator that can help them make informed trading decisions. With its accurate and reliable signals, the Synthetic VIX Indicator is a great tool for any trader looking to improve their trading performance.
Wave Trend Oscillator
The Wave Trend Oscillator Indicator is a popular and free Forex indicator for MT4 that is useful for both novice and experienced traders. This indicator is designed to detect the trend and momentum of the market and provide traders with a visual representation of the trend direction. It then plots the waves on a chart and provides traders with a signal when the trend has reversed or is about to reverse. This indicator is also customizable, allowing traders to adjust the sensitivity of the indicator to their own trading style. With the Wave Trend Oscillator Indicator, traders can easily identify the trend of the market and make informed trading decisions.
Power Trend
The Power Trend indicator for MT4 is a new and free popular forex technical analysis tool that helps traders identify trends, their direction, and strength visually in different colors. The colored histogram of the Power Trend indicator helps traders plan their trading strategies by providing insights into the trend's strength and maturity level. The indicator changes color to indicate weak or strong trends, allowing traders to maximize their profits and exit the trade at the right time. Download the Power Trend indicator for free and enhance your trading experience.
ROC Indicator
The ROC Indicator is a popular and useful Forex indicator for MT4 that is free to download. It is used to measure the rate of change in price movements over a given time period. The indicator is useful for traders as it can help identify when a price is overbought or oversold, and when a trend is reversing. The ROC Indicator is a popular and useful tool for traders who want to make informed decisions about their trading strategies.
Schaff Trend Cycle
The Schaff Trend Cycle indicator is a popular forex indicator for MT4, which determines market trends with high accuracy. Its values range from 0 to 100, with values above 75 indicating overbought and values below 25 indicating oversold. Whether you are a beginner or an experienced trader, the Schaff Trend Cycle indicator will help you make better trading decisions and improve profitability.
Reviews
There are no reviews yet.