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After looking at the code again, it looks correct for the SMDMsum.
Wednesday's SMDMsum = 1371.23 and Thursday's SM+DM=-2.69(cyan dot=sum of red
+green at end of each time period) and combining those gives Thursday's
SMDMsum=1368.54. This is with 100 days of data. The amount of data will of
course affect the SMDMsum. A more sophisticated coder would use arrays and
store the values at the specific times and then do the math. Interpretation
for Thursday is the smart monied traders were buyers in the last hour but
the "dumb money" were a bit stronger in the first half hour creating a
net -2.69. If you want smoother averages in the code then change the simple
averages to Clyde's T3 average.
bobr
----- Original Message -----
From: "BobR" <bobrabcd@xxxxxxxxxxxxx>
To: <realtraders@xxxxxxxxxxxxxxx>
Sent: Thursday, December 27, 2001 5:11 PM
Subject: Re: [RT] RE: - Smart Money Dumb Money?
> The SMDMsum should have a staircase and three simple moving averages of
the
> SMDMsum. The inputs are LenS, LenM, LenL. The staircase effect occurs
> because the data being averaged only occurs once a day at SM2 time, but
the
> period on the chart is 10 minutes so the rest of the day has a constant
> value. The staircase is what is important. I think I see an error in the
> SMDMsum that effects the last day.
>
> bob
>
> ----- Original Message -----
> From: "John Clemens" <jbclem@xxxxxxxxxxxxx>
> To: <realtraders@xxxxxxxxxxxxxxx>
> Sent: Thursday, December 27, 2001 4:47 PM
> Subject: Re: [RT] RE: - Smart Money Dumb Money?
>
>
> > Bob, thanks for the SMDM.ela. The SMDM is working well, but the
summation
> > is just showing as a constantly descending staircase. Is there a
specific
> > Max bars to reference, or a certain starting point that must be used to
> get
> > this right?
> >
> > John
> >
> > ----- Original Message -----
> > From: "BobR" <bobrabcd@xxxxxxxxxxxxx>
> > To: <realtraders@xxxxxxxxxxxxxxx>
> > Sent: Wednesday, December 26, 2001 5:11 AM
> > Subject: Re: [RT] RE: - Smart Money Dumb Money?
> >
> >
> > > 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
> > > > > >
> > > > > >
> > > > > >
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> > > > > >
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> > > > >
> > > >
> > > >
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Attachment:
Description: "SMDM.GIF"
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