I am using Stochastic Momentum Indicator. But getting different values that what is in the charts by Kite. The difference is not negligible to be ignored. Tried the formula for historical intra-day chart for 1m. The signals are totally different than what I see in the charts. This distorts my strategy totally.
Can someone from Zerodha confirm the formula I am giving below? The formula I am using is this.
cm = close - (highesthigh + lowestlow) / 2 cm = EMA(EMA(cm))
hl = highesthigh - lowestlow hl = EMA(EMA(hl))
SMI = 100 * (cm / (hl/2)) Signal = EMA(SMI)
The period I am using for EMA is 3. The multiplication factor I am using for EMA is 2. The D period and K period I am using are 10.