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Try formatting DM and PSM as points and SMT as a line. Personally, I
haven't spent much time with this indicator. Looks like the smart money has
been selling lately. Attached are two indicators. One has the SMDM and the
other the SMDMsummation. The SMDM has had a minor plotting change from the
code posted back in June 2001. Code was adapted from a description of the
Smart Money Index by Raschke and Connors in "Street Smarts". Since coding
is not my forte....well you get the idea...caveates apply.
bobr
----- Original Message -----
From: "John Clemens" <jbclem@xxxxxxxxxxxxx>
To: <realtraders@xxxxxxxxxxxxxxx>
Sent: Wednesday, December 26, 2001 1:50 AM
Subject: Re: [RT] RE: - Smart Money Dumb Money?
> Hi Bob,
>
> I just came across this Smart Money Dumb Money index and I'm trying to run
> it, but after transfering it into TS4 I'm not getting much on the screen
> except some pretty zig zagging colored lines. Can you give me an idea
where
> to start troubleshooting it. I'm using the default values for the inputs.
> I've tried it on 10 min and 60 min INDU charts, same result.
>
> John
>
>
> ----- Original Message -----
> From: "BobR" <bobrabcd@xxxxxxxxxxxxx>
> To: <realtraders@xxxxxxxxxxxxxxx>
> Sent: Wednesday, June 13, 2001 1:59 PM
> Subject: Re: [RT] RE: - Smart Money Dumb Money?
>
>
> > Clyde Lee is generously cleaning up the code. The maxbarsback + N is
> > because I did not know about if Date<>Data[1] for the first day. If
> > something isn't done with the first day's data it can skew the indicator
> by
> > the price of the item being measured. The lower plot is the summation
of
> > the AM and PM defined time periods. The SMDM concept is definitely
> > questionable from the system tests I made. It was profitable but not
much
> > better than two times a CD. Also the first half hour vs first hour made
a
> > significant difference. StreetSmarts referred to the first and last
hour.
> > Once Clyde finishes the code you should be able to test various
> > configurations of time.
> >
> > bobr
> >
> > ----- Original Message -----
> > From: "Prosper" <brente@xxxxxxxxxxxx>
> > To: "Real Traders" <realtraders@xxxxxxxxxxxxxxx>
> > Sent: Wednesday, June 13, 2001 2:33 PM
> > Subject: [RT] RE: - Smart Money Dumb Money?
> >
> >
> > > Bob et al,
> > >
> > > I've been thinking about this SM, DM for a bit, I do think that smart
> > money
> > > is influential at the end of the session but there is a lot of day
trade
> > > covering going on as well. I figure that the dumb money happens when a
> > short
> > > term pivot occurs against the trend especially after any new high or
new
> > > low. I actually tend to think that the initial burst of the session,
is
> > > floor traders taking advantage of the lag time that off floor traders
> are
> > > faced with. By the time the off floor traders see some direction and
> place
> > > an order, they are just being filled in time for the price to head off
> in
> > a
> > > new direction. It amounts the same thing as far as timing is
concerned.
> > >
> > > I have had a few computer problems, so I can't include a chart, but
how
> > > about summing just the end of the day session and not include the DM
at
> > the
> > > open. Or maybe even better would be to sum the net price difference of
> > pull
> > > backs against the prevailing trends for a better DM value.
> > >
> > > Also why is 37 used with the Maxbarsback setting for 10 min. charts?
> > >
> > > If I get some data reacumulated I will have a better idea about this
> Smart
> > > Money Index.
> > >
> > >
> > >
> > > Prosper
> > >
> > >
> > > To unsubscribe from this group, send an email to:
> > > realtraders-unsubscribe@xxxxxxxxxxxxxxx
> > >
> > >
> > >
> > > Your use of Yahoo! Groups is subject to
> http://docs.yahoo.com/info/terms/
> > >
> > >
> >
> > To unsubscribe from this group, send an email to:
> > realtraders-unsubscribe@xxxxxxxxxxxxxxx
> >
> >
> >
> > Your use of Yahoo! Groups is subject to
http://docs.yahoo.com/info/terms/
> >
> >
>
>
>
> To unsubscribe from this group, send an email to:
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>
>
>
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>
>
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Attachment:
Description: "SMDM.ELA"
Attachment:
Description: "SMDM.GIF"
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