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SMI5
This is an enhancement of SMI4 (which was an enhancement / combination of the SMI2 and Cory's SMI2) which added a price bar coloring option, a background coloring option, an option to draw a vertical line on the price panel when trend changes and an option to play a sound upon the formation of a new price bar).
Cory contributed code to color the region between +20 / -20 which indicates a possible chop zone.
The background coloring differs from SMI4, which painted the background based on whether the SMIEMA was above or below the zero line.
This version changes the background color when the SMIUP / SMIDOWN dots rise or fall above the SMIEMA line, indicating a possible change in price direction, for potential earlier entry into the move.
Examples of how I use this indicator can be found in the WizardsDen (HolyGrail II) thread.
March 23, 2010: Update
REPAINTING:
Fixed a "repainting" problem that other members discovered. Cleaned up the code. Changed the text that read "very over bought / very over sold" to "chop zone upper" & "chop zone lower". Removed the ChopFilter function, as it added nothing to help in keeping you out of chop.
ADDED TEXT ALERTS:
"POSSIBLE CHOP" when SMI dot enters the +20 / -20 zone
"LONG BREAKOUT" when SMI dot exits above the +20 zone
"SHORT BREAKOUT" when SMI dot exits below the -20 zone
COMPATIBILITY:
NinjaTrader 6.5: YES
NinjaTrader 7.0: YES - ZTrade101
(Re-uploaded March 23, 2010, 7:29 pm CST. Original post did not contain the .zip file, just the .jpg file)
May 17th UPDATE:
This fix addresses several problems that were discovered.
Mindset
contributed code to color the bars hollow when price is rising & solid when price is falling
eDanny
contributed code to remove errant arrows, vertical lines, text messages and also code to clean up the conditions when the warning sounds play.
The arrow code has been changed to (offset*ticksize) so that when you use it on currencies, you shouldn't have to adjust the OFFSET parameter in order to get the arrows to show. They should show automatically now.
I changed it so that it colors the arrows to whatever color you set in the VERTICAL LINE UP/DOWN option. That way, you can have Red/Blue price bars & Magenta / Lime arrows (they are a little easier to spot, I think, when they're not the same color as the price bars).
Category
NinjaTrader 6.5 Indicators
NinjaTrader 7 Indicators
Details:
SMI5
Category:
NinjaTrader 6.5 Indicators
NinjaTrader 7 Indicators
March 23rd, 2010
Size: 11.30 KB
Downloaded: 4706 times
393
TheWizard
Comments/ratings
erable
March 24th, 2010 01:28 PM
Great job and nice indicator, the better than i have never used
Thanks TheWizard
futures
March 25th, 2010 11:05 AM
TY
Big Mike
March 25th, 2010 08:13 PM
No Comment
CTGUY
March 26th, 2010 10:12 AM
Thank you my friend for updating and sharing this indicator. Also thanks for the valuable assistance you gave me two weeks ago.
soumi71
March 26th, 2010 02:22 PM
Works great Wizard , thank you very much for sharing
water747
April 5th, 2010 07:08 AM
haven,t used renko before, but downloaded out of curiosity. Thanks just the same
oneguy
May 14th, 2010 03:55 AM
thanks
DabaDave
May 18th, 2010 08:02 AM
Thank You!!
ahrinc
June 11th, 2010 04:07 PM
This is a great indicator – would be possible to include some Alerts (sound and text) for best market entries?
So far it is working fine on NT7 -- expect to use it live soon
Thank you much,
AHR
mcl818
July 1st, 2010 02:16 PM
thank you very much. it looks very interesting to me.
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All information is for educational use only and is not investment advice. There is a substantial risk of loss in trading commodity futures, stocks, options and foreign exchange products. Past performance is not indicative of future results.