Move the Markets

Guest Post: Quotetracker Paintbars for HMA/PPO/SMI

Posted on May 10th, 2007
Written by TraderD
Posted in: N/A (old archives)

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 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

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