Same SMI2 but this one won't repaint if you use a plot other than Line. If you use line, it will repaint 1 bar back to connect plots (like normal). But if you use something else, like a dot, it won't repaint.
Mike
COMPATIBILITY:
NinjaTrader 6.5: YES
NinjaTrader 7.0: YES (tested by sam028)
VMA Zones charts an upper and lower region on your chart using the VMA indicator. VMA (Variable Moving Average) adjusts to low volatility and high volatility periods automatically, by using the CMO for calculations.
You can use the VMA Zones as a "Kill Zone" (don't trade inside the zone), or you can use it as a trigger or confirmation when to enter or exit a trade.
You can go long once a full bar has closed above the upper line, and go short once a full bar closes below the lower line.
In the picture, this indicator is the shaded yellow zone on the top panel.
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.
I don't care about the colors or shape of the indicator or if it's above 80 or under 20
Only the UP and DOWN values
Stay long until there's value above Zero in DOWN
Stay short until there's value above Zero in UP
September 27th, 2010 01:11 PM fxprobie I have been using this on both 6.5 and NT7 and it works well on both. Only bug bear which is minor and of my own making
is that I sometimes like to have it updated live. ie not on bar close and this can give a couple of wiggley bits. Start
s one colour going down and then changes and goes up leaving spikes. Moral: wonderful indicator not to be used on live u
June 24th, 2015 05:50 AM sam8 Thanks I love it. It helped me out today already
May 28th, 2012 09:10 PM caryn23
August 8th, 2011 11:21 PM leon3456 Very usefull indicator, thanks for sharing
March 8th, 2011 08:21 PM jwhtrades I love this indicator. Would like more info on the color variants. I'm using with PPO and find it a great help. Is th
ere any additional info on it's derivation? Great job!
August 30th, 2010 05:21 AM Trendseek Works also with NT7
Nice Indicator - but the mathematics is a little bit tricky to understand!
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.