At step 6, number represents the maximum monitor's refresh rate. Make any appropriate changes. Also, make sure v-sync (vertical synchronization) is off from in-game settings.
Go to Documents\My Games\Chivalry Medieval Warfare\UDKGame\Config
Open UDKEngine.ini
Ctrl+F and typ "framerate"
Set bSmoothFrameRate=TRUE
Set MinSmoothedFrameRate=0
Set MaxSmoothedFrameRate=144
Launch game, feel the smoothness