This post was contributed by a guest author, and does not necessarily reflect the views of Richard or MovetheMarkets.com
I created Quotetracker paintbars for the HMA/PPO/SMI set up I blogged about yesterday. The setup waits for alignment of the HMA, PPO and SMI in the same direction. The paintbars are added to allow better visual identification. You have to wait for this setup to develop, so you will not get whipped sawed on HMA changes.
The paintbar code is provided below.
The example attached catches a $2.00 move on TSO this morning. The way I normally trade this is on a change, in the direction of the market bias. If the market would not have been weak, the first daily change short would have been ignored, waiting the the next change up. You can see this also caught a move in the same stock yesterday afternoon. TSO is one of the stocks from the scan I posted yesterday, run this morning.
The stocks this morning where AL, AMZN, BNI, FSLR, FWLT, MRO, NYX, PBR, SPWR, TSO, UBB, UTHR, VLO. I assume people can run the scan, or modify as they wish, so I will not be posting it anymore.
HMA Direction Indicator
(shape: Bar Bottom, Square, 5)
if HMA(20) < HMA(20)[1] set color to Maroonif HMA(20) > HMA(20)[1] set color to Green
PPO Cross
(shape: Bar Top, Square, 5)
-
if (PPO Histogram(12,26,9) < 0) and (PPO Histogram(12,26,9)[1] < 0) set color to Maroon else if (PPO Histogram(12,26,9) > 0) and (PPO Histogram(12,26,9)[1] > 0) set color to Green -
if (PPO Histogram(12,26,9) < 0) and (PPO Histogram(12,26,9)[1] > 0) set color to Red -
if (PPO Histogram(12,26,9) > 0) and (PPO Histogram(12,26,9)[1] < 0) set color to Lime
SMI Cross
(shape: Bar Top, Square, 5)
-
if (Stochastic Momentum Index(2,25,12,5).Main > Stochastic Momentum Index(2,25,12,5).Signal) and (Stochastic Momentum Index(2,25,12,5).Main[1] > Stochastic Momentum Index(2,25,12,5).Signal[1]) set color to Lime -
if (Stochastic Momentum Index(2,25,12,5).Main < Stochastic Momentum Index(2,25,12,5).Signal) and (Stochastic Momentum Index(2,25,12,5).Main[1] > Stochastic Momentum Index(2,25,12,5).Signal[1]) set color to Red -
if (Stochastic Momentum Index(2,25,12,5).Main < Stochastic Momentum Index(2,25,12,5).Signal) and (Stochastic Momentum Index(2,25,12,5).Main[1] < Stochastic Momentum Index(2,25,12,5).Signal[1]) set color to Maroon else if (Stochastic Momentum Index(2,25,12,5).Main > Stochastic Momentum Index(2,25,12,5).Signal) and (Stochastic Momentum Index(2,25,12,5).Main[1] > Stochastic Momentum Index(2,25,12,5).Signal[1]) set color to Green
if you email me the code I can get it into your post. I’ll probably change the category to article and add some tags as well.
Great! Thanks for posting this. I never knew what HMA was in QT before this. :)
TraderD, do you know of a way for my trade idea alerts to go directly into my quotetracker watchlist with spaces in between each stock? I can do it using send to window but it ends up like this;
RIMMAAPLFLSR
I have trade ideas send the alerts to a specific portfolio called Trade Ideas Alerts. I have different portfolio lists that are set to different Trade ideas windows, so I don’t use the watchlist feature, as I always work from a portfolio.
The long answer is I’m not sure. I just tried it and its not obvious to me either.
- TraderD
Stochastic Momentum Index(2,25,12,5)….is there a error here?…it should read as (2,25,12)?
@Dimak: TraderD can say for sure, but I think there are actually 4 parameters to the SMI. why are you thinking it’s an error?
Get an error – “Invalid:indicator parameter mismatch” in the parameters for indicator box. Thnx
Dimak, I assume you are using QuoteTracker? There are 4 parameters, Period, EMA1, EMA2, and Signal.
Thanks,
TraderD
Yes, do use QT. There seems to be a error(with QT) with the auto indicator set up, when the paintbar is created without the indicator being set up earlier. The signal parameter is shown as 0. Thnx
Here is a sample of a paintbar, inspired by your tutorial on paintbar ;). It combines 3 indicators -ADX+Momentum oscillator+Aroon….to show a long or short trend
if Bar open >Bar open[1] and ADX.+DMI>=ADX.-DMI and ADX.-DMI0 and Aroon Up/Down.Up>Aroon Up/Down.Down set color to $0080FF
if Bar open =ADX.+DMI[1] and Momentum Oscillator
if Bar open >Bar open[1] and ADX.+DMI>=ADX.-DMI and ADX.-DMI0 and Aroon Up/Down.Up>Aroon Up/Down.Down set color to $0080FF
if Bar open =ADX.+DMI[1] and Momentum Oscillator
if Bar open =ADX.+DMI[1] and Momentum Oscillator
oops the code is truncated , sorry for spamming
@Dimak: you have to type < for less-than and > for greater-than… otherwise it can look like HTML to wordpress, and it gets confused.
Is there any way to get Ichimoku Cloud charts on QT?