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John, here is an expanded view for Thursday and Friday's first hour.
bobr
----- Original Message -----
From: "BobR" <bobrabcd@xxxxxxxxxxxxx>
To: <realtraders@xxxxxxxxxxxxxxx>
Sent: Friday, December 28, 2001 6:01 AM
Subject: Re: [RT] RE: - Smart Money Dumb Money?
> John, here is the code my plot was made from. Are you running it in TS4
or
> TS2000. My plot is made with TS2000. My Global Server time is set to
Local
> Time which for me is Pacific time. To check to see if the code is doing
> what it is supposed to be doing, do the calculations manually. Take the
> INDU open at 9:30AM ET and subtract from it the INDU close at 10:00AM ET.
> That is the "dumbmoney". Then take the INDU close at 15:00PM ET and
> subtract it from the close at 16:00PM ET. Then add the two differences.
My
> data shows DM = 10088.71(open of the day) - 10129.93(half hour after the
> open) = -41.22 and SM = 10128.68(close of day)-10090.15(one hour before
the
> close)=38.53. Adding those two together gives -41.22+38.53 = -2.69 which
is
> what the code produces. I can't understand why your SMDMsum is only going
> in one direction if you are getting both positive and negative totals. I
> am sure there is a better way to code this for the initialization and also
> in using arrays to record the values at those specific times and then
doing
> the calculations. It would be great if someone knowledgeable would give
us
> an example in array coding using this as an example. Both the indicator
and
> summation are below.
>
> bobr
> ===========================================================
> {********Indicator SMDMsum produces a summation of the SMDM******}
> {Adapted from the book "Street Smarts" by Raschke and Connors
> Smart Money Index, DM = dumb money Buy/Sell in first half hour, SM = smart
> money
> Buy/Sell in final hour, DM1 and DM2 set the dumb money period, SM1 and SM2
> set
> the smart money period. Adjust input N so that first day does not distort
> the data.}
>
> Inputs:
> DM1(0630),DM2(0700),SM1(1200),SM2(1300),N(37),LenS(10),LenM(50),LenL(200);
> Vars:
DM(0),SM(0),PSM(0),SMT(0),SMDMS(0),SmoothS(0),SmoothM(0),SmoothL(0);
>
> If currentbar> maxbarsback+N then begin
>
>
> If Time=DM2 then DM = (OpenD(0)-Close);
>
> If Time=SM1 then SM=Close;
>
> If Time=SM2 then PSM = Close-SM;
>
> If Time=SM2 then
> SMT = DM +PSM;
>
> If Time=SM2 then
> SMDMS = SMDMS[1]+SMT;
> SmoothS = Average(SMDMS,LenS);
> SmoothM =Average(SMDMS,LenM);
> SmoothL =Average(SMDMS,LenL);
> PLOT1(SMDMS,"SMDMS");
> Plot2(SmoothS,"SmoothS");
> Plot3(SmoothM,"SmoothM");
> Plot4(SmoothL,"SmoothL");
> end;
> {**********SMDM***********}
> Inputs: DM1(0630),DM2(0700),SM1(1200),SM2(1300),N(37);
> Vars: DM(0),SM(0),PSM(0),SMT(0);
>
> If currentbar> maxbarsback+N then begin
>
> If Time>=DM1 and Time <=DM2 then DM = (OpenD(0)-Close);
> If Time>=DM1 and Time<=DM2 then begin
> Plot1(DM,"DM");
> end;
>
> If Time=SM1 then SM=Close;
> If Time>=SM1 and Time <=SM2 then PSM = Close-SM;
> If Time>=SM1 and Time <=SM2 then begin
> Plot2(PSM,"PSM");
> end;
>
> SMT = DM +PSM;
> If time = sm2 then begin
> Plot3(SMT,"SMT");
> plot4(0,"0");
> end;
> end;
> =========================================
>
> ----- Original Message -----
> From: "John Clemens" <jbclem@xxxxxxxxxxxxx>
> To: <realtraders@xxxxxxxxxxxxxxx>
> Sent: Friday, December 28, 2001 2:47 AM
> Subject: Re: [RT] RE: - Smart Money Dumb Money?
>
>
> > 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: "SMDM.GIF"
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