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Bob:
Comparing our charts(INDU 10min) the dots are approximately in the same
positions, though I have 7 green ones vs your 6. My SMT(Cyan dot) is a .23
for Thurs, compared to your 2.69. My SMDMsum is at -500370.22 for most of
the day and in the last 1/2 hr drops to -510460.59. And as I said
previously, my SMDMsum, from the beginning of the data(60 days is the max I
collect) on the left to the extreme right, today's data, is a constantly
descending staircase with no variation, no up moves, no sideways moves, just
everyday another step down. So there must be something wrong, but I don't
have a clue as to what. I'm attaching the saved page(P334.pag) that should
show you the staircase effect if you can put it into your Omega/TS folder.
John
----- Original Message -----
From: "BobR" <bobrabcd@xxxxxxxxxxxxx>
To: <realtraders@xxxxxxxxxxxxxxx>
Sent: Thursday, December 27, 2001 5:48 PM
Subject: Re: [RT] RE: - Smart Money Dumb Money?
> 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
> > > > > > >
> > > > > > >
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> > > > > > >
> > > > > > >
> > > > > > >
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Attachment:
Description: "P334.pag"
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