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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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