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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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