I don't deserve much credit for this as it is simply a straightforward modification of Mike's Triple Smoothed EMA using predefined instances of the external indicators for code optimization. Elite only, please.
The EMA needs to be optimized too, for best results. That may have been done in latest version of NT7.. not sure, please check release notes. I did a quick check but did not find anything on EMA.
For NT7 compatibility, there were 2 new parameters added to one of the DrawText() statements.
I added a compiler switch that will select the correct version of the statement of the DrawText method for either 6.5 or 7.
Indicator should now work in either version of Ninjatrader. However this zip package was created by NT7 so may not import into NT6.5. However, the previous version works fine in NT6.5 so that should not be a problem.
The indicator works a little different than websouth's implementation, because he was using the displacement chart feature which puts lines behind (historical) price. Within the indicator, I just painted the line using historical data, but it still plots real-time.
At any rate, it is a very interesting indicator. Sometimes it is a thing of beauty, others the visual aesthetics are not appealing but that usually means chop. If the indicator looks like shit then the price action is probably shit, too.
All colors are fully configurable, as is the shading, and opacity. You can also control the historical period rate.
Attached are a few screens plus the indicator. It's the top panel stuff.
VIP Only, please do not distribute outside of the Elite Circle. It's based on Mike's Version 2.02 from February. This plots the same as Mike's except for two differences.
Quick Start Modification causes value of CMA to rapidly converge to the correct value within a few bars of startup.
The method of calling the EMA's was changed for greater efficiency. This causes initial loading to be much faster, and resource use while indicator runs to be much lower. Thanks to Richard of MoveTheMarkets.com for his excellent article about this subject.
To see the envelope bands, chart must go back at least one day. Bands begin to display on the second day.
As in original version, all band colors are hard coded and are best for a chart with a dark background.
Again, this is a major rewrite. Backup your old copy first, this one will overwrite it. If you don't like the new one you can go back to the old one this way.
There are two parameter options.
Multiplier - 1.0 is normal. If you feel the bands are too tight, you can raise this value, but it will no longer represent the real retracement levels of the daily ATR.
ATR Length - 7 is default. Lower will adapt more quickly to a changing market (like the recent huge fluctuations on CL). Higher will adapt slower.
I've added two extra bands to show the 100% and 161.8% levels. I've set the default colors the way I like them, which is different than the last version so take note. I also like the bands to blend into the chart, so the Alpha opacity is set for each plot.
You'll need to redo your template as the Plot names and settings have changed.
The histogram has been removed.
As far as I can tell, I've solved the math bugs. Please report any problems.
Mike
COMPATIBILITY:
NinjaTrader 6.5: YES
NinjaTrader 7.0: YES prior to beta 23 only
The Murrey Math trading system is primarily based upon the observations made by W.D. Gann in the first half of the 20th century.
While Gann was purported to be a brilliant trader in any market his techniques have been regarded as complex and difficult to implement.
The great contribution of Murrey Math (T. H. Murrey) was the creation of a system of geometry that can be used to describe market price movements in time. This geometry facilitates the use of Gann's trading techniques.
VIP members only! Do NOT distribute this to anyone else!
This is an improvement over the OBV Diver previously released to VIP members. The new BMT Diver has a lot of additional options as you can see from the screen shots below. There are more too but I only wanted to take so many screen shots.
Let me also say it will not repaint unless the Plot Style is Line. Using Dot or Hash for plotstyle will prevent repainting (which by default is uses a Dot).
** DO NOT DISTRIBUTE **
Thanks to the VIP members for all their support!
This will show divergence with the following:
SMA, EMA, HMA, JMA, WMA, VMA, ZeroLagEMA, VWAP, CCI, RSX, R, RSI, Bollinger, MACD, Elliot, LinReg, and ADL.
The zero line is important. It is wise to only take longs above the Zero Line, and shorts below it. Please note, the Diamonds/Squares below are different than the OBV Diver indicator previously released, I swapped them around a bit.
Blue dot = no divergence, buy - take note of zero line
Red dot = no divergence, sell short - take note of zero line
Cyan diamond = divergence, buy with caution or look for failure then sell short
Magenta square = divergence, short with caution or look for failure then buy long
May 8th, 2017 10:13 AM moneypenny Mike - This indicator has made more difference in my trading than any other so far! THANK YOU!!!!!whoo:
January 10th, 2016 07:01 PM bobc635 Thanks Mike.... looks very nice. Playing with PnF on CL futures. PnF seems to give a better look for my eye... I am l
iking it.
Bob
October 16th, 2014 10:20 AM ShaunG I am not a hundred present sure how it work's Mike! Sure is a thing of beauty! Thanks!
October 6th, 2014 11:37 PM TakingStock12 Very nice indicator Mike! Very helpful -- thanks!
February 2nd, 2011 01:48 PM minsalaco Mike: I've loaded the Wave Indicator but looks different from your four screen shots in that the entry and exit indicat
ors that are below the price action are missing. For this indicator, what are you using for entry and exit points? Is
there another indicator I should be using with the Wave Indicator? Thanks in advance.
March 11th, 2019 12:56 PM vmodus Not sure what I'm looking at, but it's interesting at least. My partner uses Fib a lot, so I'll send it her way.
September 26th, 2015 08:04 AM PharmDoc I use Tradestation 9.5, 61.8% in fibs, and session times to build bars. Thanks for your time in creating the ELD.