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SMI2 Indicator
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Created: by keepdchange Attachments:11

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SMI2 Indicator

  #21 (permalink)
Market Wizard
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cory View Post
they are - 20 and + 20 line.

Yeah, I got that, but take a close look at the screen segment you posted - 9:00 and again at 10:00.

The signal line crossed UP around 9:00, so would that be a condition to display "Possible Long Breakout?" and what about the down cross around 10:00 "Possible Short Breakout"? The condition was met, but it's not necessarily correct. That's my problem. Don't know when, exactly, to display that message. Of course, I could add the code to display the message ANYTIME the condition was met, but again, it wouldn't necessarily be correct. It might be, sometimes. ? ? ?

My thoughts were:
only print the POSSIBLE LONG BREAKOUT IF SMIEMA is ABOVE '0' AND it crossed ABOVE the +20
only print the POSSIBLE SHORT BREAKOUT IF SMIEMA is BELOW '0' AND it crossed BELOW the -20.

What are your recommendations on this? Thanks!

After all, it's what you learn AFTER you know it all, that counts!
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  #22 (permalink)
Elite Member
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Wizard,

Yes, I am refering to the GOLD line and NOT the Dots. A crossover of the +20 and -20 (Noise filter lines, as Cory states)

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  #23 (permalink)
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TheWizard View Post
Yeah, I got that, but take a close look at the screen segment you posted - 9:00 and again at 10:00.

The signal line crossed UP around 9:00, so would that be a condition to display "Possible Long Breakout?" and what about the down cross around 10:00 "Possible Short Breakout"? The condition was met, but it's not necessarily correct. That's my problem. Don't know when, exactly, to display that message. Of course, I could add the code to display the message ANYTIME the condition was met, but again, it wouldn't necessarily be correct. It might be, sometimes. ? ? ?

My thoughts were:
only print the POSSIBLE LONG BREAKOUT IF SMIEMA is ABOVE '0' AND it crossed ABOVE the +20
only print the POSSIBLE SHORT BREAKOUT IF SMIEMA is BELOW '0' AND it crossed BELOW the -20.

What are your recommendations on this? Thanks!

Wizard,

I think your recommendation of only print the POSSIBLE LONG BREAKOUT IF SMIEMA is ABOVE '0' AND it crossed ABOVE the +20
only print the POSSIBLE SHORT BREAKOUT IF SMIEMA is BELOW '0' AND it crossed BELOW the -20. is correct.

You are also correct in saying that the above condition DOES NOT ALWAYS mean an ENTRY point, as there are other condition that have to be met regarding the price action.

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  #24 (permalink)
Market Wizard
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perryg View Post
Wizard,

Yes, I am refering to the GOLD line and NOT the Dots. A crossover of the +20 and -20 (Noise filter lines, as Cory states)

Ok, one last question. This is my assumption:

Print a message LONG BREAKOUT
when signal line is ABOVE '0' line AND it then crosses ABOVE +20

Print a message SHORT BREAKOUT
when signal line is BELOW '0' line AND it then crosses BELOW -20.

Are those the conditions? (The reason I ask is, sometimes the signal line will cross below the +20 when it's ABOVE '0', and conversely, sometimes it will cross above -20, when it's BELOW '0' line).

After all, it's what you learn AFTER you know it all, that counts!
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  #25 (permalink)
Market Wizard
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here is the full screen in case anybody curious
https://futures.io/attachments/journals-daily-charts-tape-reading/8068d126609922...ii-wizardsden6-setup.jpg

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  #26 (permalink)
Market Wizard
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perryg View Post
Wizard,

I think your recommendation of only print the POSSIBLE LONG BREAKOUT IF SMIEMA is ABOVE '0' AND it crossed ABOVE the +20
only print the POSSIBLE SHORT BREAKOUT IF SMIEMA is BELOW '0' AND it crossed BELOW the -20. is correct.

You are also correct in saying that the above condition DOES NOT ALWAYS mean an ENTRY point, as there are other condition that have to be met regarding the price action.

You just responded to the last questions I had.

I think that answers all the questions I had. I'll try to get busy on that this weekend.

Have a good weekend!

After all, it's what you learn AFTER you know it all, that counts!
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  #27 (permalink)
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Yes that is correct

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  #28 (permalink)
Market Wizard
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Cory, I would like to ask a favor. I'm not really a programmer and freely admit that. I had some IBM programming experience (10+ years), but that was 23 years ago when I left that field & although I can follow the logic, the coding is vastly different that when I was coding programs.

My question is: Can you help me color the zone between the +20 / -20 lines on the SMI4 indicator. It can be 'rigged' by expanding the '0' line to a width of 40 or 50, but that's not a correct solution. You're very, very good at this & I was wondering if I could ask for your help. Most of the little stuff, I can figure out, but I don't know how to achieve this.

Thank you!

After all, it's what you learn AFTER you know it all, that counts!
Attached Thumbnails
SMI2 Indicator-picture-3.png  

Last edited by TheWizard; March 6th, 2010 at 11:54 AM. Reason: forgot to attach screenshot
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  #29 (permalink)
Market Wizard
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you use drawregion command, basically you pain from one y value to other y value as you go bar by bar.
http://www.ninjatrader-support.com/HelpGuideV6/helpguide.html?DrawRegion
check out my market range coloring
https://futures.io/free_downloads/ninjatrader/indicators/272-download.html?view

in this case since y1 and y2 is fix value it is very simple;
DrawRegion("band1", CurrentBar, 0, 20, -20, Color.Green, 10);

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  #30 (permalink)
Market Wizard
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cory View Post
you use drawregion command, basically you pain from one y value to other y value as you go bar by bar.
http://www.ninjatrader-support.com/HelpGuideV6/helpguide.html?DrawRegion
check out my market range coloring
https://futures.io/free_downloads/ninjatrader/indicators/272-download.html?view

in this case since y1 and y2 is fix value it is very simple;
DrawRegion("band1", CurrentBar, 0, 20, -20, Color.Green, 10);

Bless you! I'll play around with it & see if I have any success. I think I understand the concept now. Thank you very much!

After all, it's what you learn AFTER you know it all, that counts!
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