Quotetracker Paintbars for HMA/PPO/SMI


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, PPO, SMI Paintbars

HMA Direction Indicator

(shape: Bar Bottom, Square, 5)

  • if HMA(20) < HMA(20)[1] set color to Maroon
  • if 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

This post was contributed by a guest author, and does not necessarily reflect the views of Richard or MovetheMarkets.com


Posted by TraderD on 2007-05-10|
Tags: Articles, , ,

13 Responses

  1. Richard Says:
    May 10th, 2007 at 11:03 am

    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.

  2. Prospectus Says:
    May 10th, 2007 at 3:10 pm

    Great! Thanks for posting this. I never knew what HMA was in QT before this. :)

  3. Glenn Says:
    May 10th, 2007 at 3:11 pm

    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

  4. TraderD Says:
    May 10th, 2007 at 3:44 pm

    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

  5. Dimak Says:
    May 16th, 2007 at 11:17 am

    Stochastic Momentum Index(2,25,12,5)….is there a error here?…it should read as (2,25,12)?

  6. Richard Says:
    May 16th, 2007 at 1:14 pm

    @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?

  7. Dimak Says:
    May 17th, 2007 at 4:31 am

    Get an error - “Invalid:indicator parameter mismatch” in the parameters for indicator box. Thnx

  8. TraderD Says:
    May 17th, 2007 at 8:48 am

    Dimak, I assume you are using QuoteTracker? There are 4 parameters, Period, EMA1, EMA2, and Signal.

    Thanks,

    TraderD

  9. Dimak Says:
    May 18th, 2007 at 10:52 am

    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

  10. Dimak Says:
    May 18th, 2007 at 10:55 am

    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

  11. Dimak Says:
    May 18th, 2007 at 10:56 am

    if Bar open =ADX.+DMI[1] and Momentum Oscillator

  12. Dimak Says:
    May 18th, 2007 at 10:57 am

    oops the code is truncated , sorry for spamming

  13. Richard Says:
    May 18th, 2007 at 11:46 am

    @Dimak: you have to type &lt; for less-than and &gt; for greater-than… otherwise it can look like HTML to wordpress, and it gets confused.

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