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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
datel
August 9th, 2010 09:10 AM
Thank you very much.
mainstream
August 10th, 2010 01:38 AM
This is great for looking for entries on the super low time frame too... thanks. I was using the CCI but I like this indicator better. Kudos Dude.
VladiVoodoo
October 10th, 2010 03:39 AM
No Comment
Serger
October 15th, 2010 02:42 PM
Thank you so much , the best i see !!
dowtrader
November 8th, 2010 07:43 AM
Works brilliant with DTFM 5min and 15min. Thanks.
GaryN69
December 10th, 2010 04:42 PM
Thanks for this indicator! I use this along with macd bb lines for confirmation.
MasterSeer
December 12th, 2010 02:42 AM
Thanks so much for the great indicator!
hansonk
December 27th, 2010 11:14 AM
Thanks for updating and sharing this indicator.
gibips
January 12th, 2011 11:05 AM
This is a great indicator. I combine it with SuperTrend and MACD for nice results on a tick chart. Thanks
Gulo
January 12th, 2011 07:12 PM
Thank you very much for sharing.
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