Advanced VW SMI w/ Divergence, Confirmations & Table

Volume-Weighted SMI with Dynamic Divergence and Confirmation
Description:
This advanced indicator combines the Stochastic Momentum Index (SMI) with volume weighting, dynamic overbought/oversold bands, and robust divergence detection to help you spot true momentum reversals confirmed by volume, trend, and momentum.

Features
Volume-Weighted SMI
The SMI is amplified or dampened based on normalized volume, filtering out low-interest price moves and highlighting those with real conviction.

Dynamic OB/OS Bands
Overbought and oversold levels adapt automatically to current volatility and trend using moving average and standard deviation bands, keeping signals relevant across all market regimes.

Divergence Detection with Visuals
Real-time bullish and bearish divergence signals are drawn right on the SMI line, including lines and labels, making reversal setups easy to spot.

Triple Confirmation
Divergence signals are filtered by:

Volume surge (user adjustable)

RSI extremes (oversold/overbought)

Higher timeframe trend (optional EMA filter)

Customizable Volume Weighting
Adjust how much influence volume has on SMI signals—tune sensitivity to your market and style.

Performance Table
Track bullish/bearish divergence counts in real time.

How to Use
Add to your chart.
(Move to a separate pane for best results.)

Adjust settings to fit your market (lengths, volume power, trend filter, etc.).

Watch for colored SMI moves outside dynamic bands for momentum extremes.

Look for divergences marked by arrows, lines, and labels on the SMI.

Use table count for an overview of signal frequency.

Tips
Works on all timeframes; try adjusting dynamic band length for higher timeframes.

For scalping, lower the SMI and pivot lengths.

For swing trading, enable trend and volume confirmations for higher confidence.

Use with other price action signals for best results.

Created with Pine Script v5.
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