UPDATED FEB 6 2010: v1.05 now includes Slope feature
(this is included in BMT Envelope Fib Bands)
The purpose of BMTCollectiveMA was to take the most commonly used moving averages and combine them into one. It is my belief that SMA 9, SMA 34, SMA 100, EMA 20, EMA 34 and EMA 100 are the most widely used.
While it is possible for people to use JMA and ZeroLagEMA and etc etc lately I've been focused on and moving towards trading a bigger picture, and part of that journey has taken me to trading only a 5 minute chart (or bigger) and focusing on what the most successful traders in the world are looking at.
So the idea was to collectively combine what "the collective" (these successful traders) are using to average them into one. It works terrifically with the BMT Envelope Fib indicator, which is what I use it with.
Why did I create it, or why do I think it's useful? Because I found EMA 20 to be very useful. But I also found EMA 100 useful. Oh, and SMA 9, and etc etc etc. They each have very useful properties. So I decided to put them all together and trade it that way.
I think it's most useful when used with the BMT Envelope Fib indicator because that indicator measures multiple S/R areas (envelopes) around price, and the very nature of the CollectiveMA means it will find more confluence in these areas than a single MA would.
Even though the idea behind BMTCollectiveMA is a simple one, please keep it for VIP members only. As you know, I try to reward VIP members for their support and want to keep these just between the group that has vested interest in the site.
VIP members only! Do NOT distribute this to anyone else!
This is an improvement over the OBV Diver previously released to VIP members. The new BMT Diver has a lot of additional options as you can see from the screen shots below. There are more too but I only wanted to take so many screen shots.
Let me also say it will not repaint unless the Plot Style is Line. Using Dot or Hash for plotstyle will prevent repainting (which by default is uses a Dot).
** DO NOT DISTRIBUTE **
Thanks to the VIP members for all their support!
This will show divergence with the following:
SMA, EMA, HMA, JMA, WMA, VMA, ZeroLagEMA, VWAP, CCI, RSX, R, RSI, Bollinger, MACD, Elliot, LinReg, and ADL.
The zero line is important. It is wise to only take longs above the Zero Line, and shorts below it. Please note, the Diamonds/Squares below are different than the OBV Diver indicator previously released, I swapped them around a bit.
Blue dot = no divergence, buy - take note of zero line
Red dot = no divergence, sell short - take note of zero line
Cyan diamond = divergence, buy with caution or look for failure then sell short
Magenta square = divergence, short with caution or look for failure then buy long
Attached is version 2.03. It does NOT work in NT 6.5 but does work in NT 7 with beta 22 or later.
Again, this is a major rewrite. Backup your old copy first, this one will overwrite it. If you don't like the new one you can go back to the old one this way.
There are two parameter options.
Multiplier - 1.0 is normal. If you feel the bands are too tight, you can raise this value, but it will no longer represent the real retracement levels of the daily ATR.
ATR Length - 7 is default. Lower will adapt more quickly to a changing market (like the recent huge fluctuations on CL). Higher will adapt slower.
I've added two extra bands to show the 100% and 161.8% levels. I've set the default colors the way I like them, which is different than the last version so take note. I also like the bands to blend into the chart, so the Alpha opacity is set for each plot.
You'll need to redo your template as the Plot names and settings have changed.
The histogram has been removed.
As far as I can tell, I've solved the math bugs. Please report any problems.
Mike
COMPATIBILITY:
NinjaTrader 6.5: NO
NinjaTrader 7.0: YES beta 22 or later only
Again, this is a major rewrite. Backup your old copy first, this one will overwrite it. If you don't like the new one you can go back to the old one this way.
There are two parameter options.
Multiplier - 1.0 is normal. If you feel the bands are too tight, you can raise this value, but it will no longer represent the real retracement levels of the daily ATR.
ATR Length - 7 is default. Lower will adapt more quickly to a changing market (like the recent huge fluctuations on CL). Higher will adapt slower.
I've added two extra bands to show the 100% and 161.8% levels. I've set the default colors the way I like them, which is different than the last version so take note. I also like the bands to blend into the chart, so the Alpha opacity is set for each plot.
You'll need to redo your template as the Plot names and settings have changed.
The histogram has been removed.
As far as I can tell, I've solved the math bugs. Please report any problems.
Mike
COMPATIBILITY:
NinjaTrader 6.5: YES
NinjaTrader 7.0: YES prior to beta 23 only
Feb 5 2010: Version 2.02 is available here and is also NT7 compatible.
This is for VIP users only.
Please do NOT distribute!
As always, I spend my time developing indicators to give to the VIP community, since it is those within the VIP community that are supporting BMT. If you share this indicator with someone else or on another website, it hurts me.
This indicator allows you to choose an SMA, EMA, HMA, WMA, VWMA, JMA or ZeroLagEMA and then paint fibonacci levels above/below that price.
You can choose two calculation methods. Method 1 uses 34, 55, and 89 for bands. Method 2 uses 38.2, 50.0, and 61.8.
Attached are some screens.
Please give me some feedback and let me know what you think.
BTW, this indicator does not repaint and it does work correctly with COBC false.
Mike
COMPATIBILITY:
NinjaTrader 6.5: YES
NinjaTrader 7.0: NO [feedback]
This is a simple Bollinger Band Squeeze. The Bollinger Band Squeeze compares directional volatility as measured by the standard deviation to non-directional volatility as measured by the average range.
The squeeze is a situation, where Bollinger Bands are inside a Keltner Channel. This indicator does not plot the Bollinger Bands and the Keltner Channels, but plots the distance of the Bollinger Band from the Keltner Channel and displays it as a histogram.
When the histogram has a positive value: This means that the Bollinger Bands are outside the Keltner Channel. Directional volatility is high or normal.
When the histogram has a negative value: This shows low directional volatility, which is called "the squeeze". For better visibility, the squeeze is reinforced with dots. When activated, sound alerts will inform you that the squeeze is on.
A squeeze is a good opportunity to enter a position, as it reflects a temporary period of balancing or indecision. To determine the direction of the expected breakout from the squeeze, other indicators should be used. In his book "Mastering the Trade", John F. Carter suggests a momentum indicator do determine the direction of the trade, but I do not think that this is sufficient to create a profitable system. You will need further indicators.
If you enter a trade during a squeeze, this usually leads to a good reward-to-risk ratio, as you will typically be able to use narrower stops during low volatility periods.
The BB's are based on a 20 SMA and 3x multiples thereof: 20 (green), 60 (blue), 180 (red), 540 (White or Black). They create natural SR levels since they are based on the statistical distance from the SMA.
A BB Cluster is when two or more outer BBs are synchronous... the more the stronger; the higher the TF, the stronger; the longer the chart TF, the stronger.
Good for seeing trend (or not); good for seeing possible SR (support/resistance); good for deciding when to exit (hint... HVS - high volume spike - on a 30 sec chart and price goes outside the bands on whatever TF you are watching... drop all but one and wait for the PB).
February 3rd, 2012 05:52 PM phillip This looks interesting. Thank you!
January 3rd, 2012 12:03 PM tukhoai Thank you meister! very clever indeed
May 21st, 2011 09:06 PM bearman12 The Golden Mean of MA's
December 21st, 2010 12:24 PM paraje Thanks
February 7th, 2010 02:53 AM cunparis I've been looking at this and it's uncanny how many times price will tap it and then continue on with the trend. I thin
k it's better than a single moving average where one is always wondering what period to use.
February 29th, 2016 03:45 PM no3putts Many thanks, again and again and....
December 20th, 2015 09:40 PM romus
August 13th, 2014 10:00 AM tang
February 9th, 2014 06:15 PM bundwidower Fat Tails. You do not know what it means for beginners like me to have something to follow. Sorry I am unable to recipro