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The Electronic Local method

  #90 (permalink)

Salt Lake City, UT
 
Trading Experience: Intermediate
Platform: SC, NT, MT
Broker/Data: AMP
Favorite Futures: NQ ES YM Bonds
 
Posts: 247 since Mar 2010
Thanks: 49 given, 354 received

If you're looking for a simple NT7 MOMDOT indicator, without programing you can create the desired output using NT7's SMA given the eqaution for MOMDOT is in fact based on the "TYPICAL" calculation.

I obtained the following from a previous post in this thread

MomDots - (HI.2+LO.2+CL.2)/3 + (HI.4+LO.4+CL.4)/3 + (HI.3+LO.3+CL.3)/3)/3;

This is the SMA(3) of the TYPICAL values of the bars...
(Note NT's nomenclature for bars would be 0-current, 1-1st back, and 2-2nd back)

By default the NT7's SMA math is based on bar "CLOSE"

You change this to any of the following:

OPEN
MEDIAN
TYPICAL
WEIGHTED
HIGH
LOW

You do this from the indicator dialog and then select on the Input Series input field. Use the help feature to obtain the math for MEDIAN, TYPICAL and WEIGHTED.

You can apply the offset using the displacement field in the indicator dialog by changing it from 0 to 1, notice what happens to the placement of the current bars SMA value when you do this.


Getting a single dot on the bar and altering the color of the dot would require programming... but you can get the desired information using this approach.

It is also interesting to apply this approach to your other favorite indicators...

Hope this helps someone in future

enjoy

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