Dwain's SMACD indicator

[dap711]

Hello traders!

So, I've been doing a lot of stock trading recently and found that the Stochastic Momentum Index indicator found in ThinkOrSwim to be very useful in making my trade decisions. I then went looking for the same for MT5 and came across one made by mladin. After playing with the new toy, I realized that the convergence and divergence of the SMI would give a much better signal. So, here it is my friends .. move over MACD, for SMACD.

Dwain

[dap711]

The rules to trading SMACD are fairly simple.

1. Identify higher TF trend.
3. Enter trade with the trend at the crossover and exit when color changes.

[TransparentT]

This looks really cool!

Would it be possible to also code an ex4/mq4 version for Empty4? I want to try this indicator out for myself on some non-forex instruments and see what happens.

[dap711]

Sorry, I only do MT5 code.

[TransparentT]

Would it be possible to provide the MQ5 file? I have someone who can port the indicator into Empty4.

[tomele]

Very, very interesting indicator, Dwain. Thanks a lot for providing it.
I will do some backtests and report back. Why would anyone want to port it to Empty4?

[dap711]

Thanks, I've been doing some back testing as well. Because this is a brand new indicator .. I wasn't sure about the settings. The defaults seem to be a little fast. Try these settings for a different point of view .. 20, 5, 3, 50. I'm making money on the M1 using those settings. But, I'm also using currency strength to pick the strongest against the weakest pairs.

[dap711]

I will say this about SMACD .. it's a leading indicator .. not always perfect .. but most of the time gives you a few bars notice of trend change or pullback notice.

[dap711]

Trying to make the indicator simpler ..

[TransparentT]

Very, very interesting indicator, Dwain. Thanks a lot for providing it.
I will do some backtests and report back. Why would anyone want to port it to Empty4?

I primarily use Empty4 to trade and analyze my charts, and I imagine a lot of people here do as well. I just thought it was a helpful suggestion

Never hurts to ask.