NA - TradeStation



GENERAL SM

SM stands for SLOT MACHINE. When the colors on one line all "line up the same" it pays off just like a slot machine. I use 4 simple moving averages to determine the trend. Usually, when the moving averages are heading up (+) and the price is above them (green) you can go long and make money.

The MA(40) acts like a directional indicator - go long when green and short when red if the other indicators confirm.

The SLOT MACHINE SORT indicator allows you to sort the frequencies correctly. If you sort on INTERVAL, it doesn't sort correctly because it's text.

Start out with ONE indicator, like the TREND indicator. Learn how it displays the "waves" of changing trends. The goal is to make money, not to learn every indicator. I use a handful of indicators. I just write the other indicators because I can. People like different indicators. So I help. I also learn new stuff in the process. I really like the TRI on the 15 minute chart. Works well with the GRIDIRON.

And for stock selecting NOTHING beats RSI(2) especially when there's a divergence. RSI(2) works great for trading too on the 15 minute and 60 minute charts.

For selecting stocks, use the SMAA_COMPASS on daily and 60 minute intervals along with the SMAA_DIVERGENCE indicator.

For trading, use the SM_TREND indicator along with the GRIDIRON CHART INDICATOR so you'll have the support/resistance lines.

You may also want to use the $.SMAA_PRICE_VOLUME_TR Indicator.

Of course, use them on MULTIPLE INTERVALS: 1/5/15/60 minutes.

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For swing traders, use daily and 60 minute charts/radar.

When you see RSI(2) < 1 on the daily and/or 60 minute chart it is time to LOAD THE BOAT - UNLESS the EMA(13) crossed below the EMA(26).

MISCELLANEOUS

• I have been using the GRIDIRON for all of my trades including FOREX.

• Quick scalps are all about the entry/exit. Once you spot an entry, you get in and get out before it reverses on you. If you concern yourself with "money left on the table" when you are scalping, you are bound to get whacked bigtime! Better to focus on making your pile grow with each trade.

• I have my 3-candle rule. If I am in a long trade and the current candle is the third consecutive green candle and the price stalls, I exit immediately unless the EMA(5) is at a 45 degree angle.

• The main tools to use are the GRIDIRON, the COMPASS, and the new TREND ENDER and MULTI TOOL indicators.

TRADING Q/A

BASIC STRATEGY: TREND & COMPASS

Q: Reading through the posts, I was very impressed by the work presented here, however, I thought that maybe I can test this out by changing the code to a "strategy" just to see if I can see actual historical performance. Figuring, why sit there all day & watch colors, if once can just code this into an automated strategy! It seems simple enough to take different MA's and confirm with higher interval RSI. I basically took the code from the indicator SM_TREND and combined with the code from SM_COMPASS (Coding only the RSI on 60_Min & Daily on Data2 & Data3). I believe I have the logic correct as I simply copied over codes from the existing codes and set up entries as follows:

- All MA's +

- Closes above MA's

- RSI confirmation on 60 Min. and Daily

- Exit if any of the above conditions turn

(Tested this on Longs only, not accounting for commissions or slippage)

The equity curve on 16000 Bars is straight down on 5,10,15,20,30 minute bars!

I wonder if there is something I am missing here? Or is it that this methodology does not work?

A: Using the SM_TREND, the 60 minute entry (or 15 minute) is:

If Previous candle RED, BUY stop at previous candle close + 0.01.

If Previous candle GREEN, SELL short stop at previous candle close - 0.01.

The MA entry is:

When close crosses above MA(5) and close above MA(40) go LONG.

When close crosses below MA(5) and close below MA(40) go SHORT.

See how those strategies work on GOOG, AAPL and RIMM.

The SLOT MACHINE COMPASS is for mainly for swing trades.

Simple strategy:

When EMA(13) above EMA(26):

If Close crosses above EMA(5) then entry next day is buy stop at previous close + 0.10.

Exit when close crosses below EMA(5).

RSI(2) strategy:

If RSI(2) < 1 then entry next day is buy stop at previous close + 0.10.

Exit when close below previous close

or close crosses below EMA(5)

or close above upper Bollinger Band(20,2) and close below open.

Q: Thank you, it seems that may be I did not understand the logic correctly as I was under the impression that you use COMPASS (60 min & daily RSI for instance) to qualify the trade and enter long once the MA's all turn positive and vise versa.

A: Think about it - by the time all the MA's turn positive, you have missed most of the run!

SCREENING / ENTRIES

Q: I'm trying to break down a swing trading system (positions closed the next day or so). If you have the time, what do you suggest for the following points?

1) Putting together a likely basket of symbols for the next session. Do you just grab a random group and start refining it as you trade, or do you suggest some sort of daily screen (I also use stockfetcher for fast aftermarket screens)?

A: I use to choose my stocks. Yes, I do have an automated method. I run the AutoAvery filters I have developed for stockfetcher then I load them into the SLOT MACHINE COMPASS WORKSPACE, a Yahoo! Watchlist, and a watchlist. More than enough info! If you go to , you will see all of my posts and the free filters I have left for all to use. Use the filters I have posted on StockFetcher to screen for stocks. Just search the SF forum for therumpledone.

If you tell me the dollar range you prefer to trade in, I can post a filter for you. You probably know, I love to bottom fish using RSI(2) < 1.

2) With your Slot Machine LAST, should I then focus on the 60 min interval with a reference to the compass for actual entries?

A: Use the SLOT MACHINE COMPASS AND SLOT MACHINE DIVERGENCE INDICATORS ON A 60-MINUTE FREQUENCY TO PINPOINT YOUR SHORT/LONG ENTRIES:

For LONG entry:

RSI(2) < 1 (stock bottoming out) or

+Cx5 (safe entry) or

+13x26 (trend reversal to the upside) or

Positive Divergence (lower price making higher RSI(2).

For SHORT entry:

RSI(2) > 1 (stock topping out) or

-Cx5 (safe entry) or

-13x26 (trend reversal) or

Negative Divergence (higher price making lower RSI(2).

Some of my current favorite stocks to track are: FORD, ABLE, VEXP, BOOM, SBAC, and ANTP. Just wait patiently for them to bottom on RSI(2) on either the 60 minute or daily interval. Then get ready to load the boat.

PRICE/VOLUME

Q: How are you using price and volume to pick the right stocks? Please, can you give a brief description?

A: Right stocks? No such thing! IT'S NOT THE STOCK, IT'S HOW YOU TRADE IT. I had 2 picks for today, outside of the usual suspects: WPTE and DWRI. If all you did was buy them both at the open and use some money management, you would have made a nice profit off WPTE and a few pennies off DWRI unless you waited all day.

How did I pick them? Look at the price and look at the volume and tell me what YOU see. HINT: Volume precedes price. Success always leaves clues. Look at VWPT starting on 8/18/2005. Going down, daily volume increasing, hits bottom, volume up over 400%, next day 50% volume increase over that, paid about 30% from low to high.

CANDLE INDICATOR USE

Q: I have been going over your Previous Candle strategy on the 2% thread forum and I’m not sure I understand how the Radarscreen indicator EL matches the general concept outlined in the thread.

If I understand it correctly, I assume you take a 15 min chart of RIMM (for example) and then look at the previous bar color (1 bar back) to the present bar. If that previous bar is a red candle (close lower than open), then we look to enter buy long, if previous bar close + 0.01 is exceeded to the upside on the current or on a near future bar.

If that is the correct strategy, then I am confused by the setup of the Radarscreen CANDLE indicator. If the PREV column candle is red (previous candle close lower than previous candle open), then I am looking to enter buy long on present bar if it goes higher than previous candle close +0.01, but the color of the Candle column bar (present bar) seems to be dependent on the close of present bar minus the close of previous bar according to your EL code:

IF xDiff >= .01

THEN BEGIN

Plot2( xDiff, "CANDLE", BLACK );

SetPlotBGColor( 2, green );

END;

where:

xDiff = xClose0 - xClose1;

My point is, since I am looking for previous bar (red candle) close to be exceeded to upside by >0.01 to enter buy long, the color of (present candle) Candle column bar is less important and (even maybe even misleading) than comparing present price (last column) to previous column price + 0.01 (if going long)

How do I read the RadarCandle indicator to know when to enter the trade? That is my question.

A: The SLOT MACHINE CANDLE INDICATOR candle column is based on the previous candle's closing price. It tells, in cents, how much the current price is above/below the previous candle's close. Perhaps the name CANDLE is throwing you off? You could rename the column DIFFERENCE.

You enter LONG when you see the value of CANDLE equal 0.01, if the previous candle was RED.

You enter SHORT when you see the value of CANDLE equal -0.01, if the previous candle was GREEN.

The CANDLE column will have a background of YELLOW when you need to "on your toes" for an entry.

You have to be quick. Sometimes you only get a second or 2 to take profit. Don't be greedy. And take every trade or you will be sure to miss the big one! If you use the SLOT MACHINE CANDLE INDICATOR along with the SLOT MACHINE BATTLELINES INDICATOR - you'll know when to exit.

TRADING PLAN

[pic]

3 - Short term trend: on 1 min row look at compass and trend indicator

6 - ROC: Look for 0 cross and/or Positive/Negative Divergence

7 - Look at the candle indicator should NOT be a 3!!

9 - Look at SM candle - if lower highs then price stalled

10 - Look at the candle counter or look at the chart.

20 - Look at gridiron trade indicator... yellow TRADE

21 - Look at gridiron trade indicator... yellow TRADE

Q: Does RS Previous Candle Close +/- 0.01 actually display the calculated amount of the previous bar close +/- 0.01?

A: The Candle column of the SM Candle indicator tells you how much the price is up/down from the previous candle close.

When do I exit the trade Using 1 Minute?

1) Price stalls: EMA diff threshold should be exceeded

2) 3 consecutive candles of same color: EMA slope must be flat or not in direction of trade

You have to constantly ask/answer the questions and then pick the appropriate "play".

Simple "play" to make money:

Look at the 60 minute EMA(5), if trend is up then go long when price crosses above the EMA(5) and look to exit at a gridiron line. You can stay long, if you wish, as long as the EMA(5) trends higher and the close stays above the EMA(5). GOOG and RIMM love the 60 min EMA(5).

Q: Excel Trading Plan - Which Direction Do I trade? A: 15 Minutes

Q: Previous candle color: Current = Green, Previous = Red. You pass on long and wait for Current to turn Red to go Short?

A. If Previous = RED then at the close you look to go LONG unless the ema(5) tells you otherwise meaning if the ema(5) is trending down, do not trade against the trend. But if the ema(5) is flat or up, then you can go long.

STOCK SELECTION SETUP

[pic]

This is my latest workspace for STOCK SELECTION. When you see all 4 lines at the bottom of the NORMALZER chart it is time to LOAD THE BOAT.

Ind1 is RSI(2) - BLUE.

Ind2 is Accumulation Distribution - RED.

Ind3 is Momentum(10) - GREEN.

Ind4 is %R - MAGENTA.

These settings are from Mike Parker's RSIWLR ANALYZER.

In the SLOT MACHINE radar, if an indicator has POSITIVE DIVERGENCE it is dark blue on white. To make it easy on everybody, I uploaded the workspace and the indicators used.

GENERAL SM USE

Q: Would it be possible for you to share some of your SM trading indicators with us?

A: I already have!!

The SLOT MACHINE MOVING AVERAGE CROSSOVER is one.

The SLOT MACHINE COMPASS is another.

And the TREND INDICATOR, the first I posted, is another.

I have others that flash LONG, SHORT, BUY, SELL, but I hesitate to post those only because I use them on stocks that I have been tracking for over a year. But even those are based on the basics: trend, crossovers and extremes.

The whole idea behind the SLOT MACHINE is to build your own based on what indicators you normally watch on a chart. For example, if you usually go long when the price crosses above the MA(5) and sell when the price closes below for 2 bars in a row, then you can use the trend indicator as your trigger. Or if you would go long when the MA(5) crosses above the MA(10) and go short when the MA(5) crosses below the MA(10), then you can use the SLOT MACHINE CROSSOVER INDICATOR. And then you can combine the two. Enter long when the price crosses over the MA(5), stay in the trade so long as the ma(10) is trending up and exit when the MA(10) goes flat or the MA(5) crosses below the MA(10). There are many combinations. Find what works for you!

One thing to remember, you can always sell 1/2 your position and let the rest ride. I know how frustrating it is to enter a trade, take profit because of an indicator turning against me only to see the stock take off without me. I have learned to sell 1/2 my position, book the profit, and either sell for breakeven or a higher gain than the first half. Thanks to my good buddy, WildSuper.

Remember, the real power of the SLOT MACHINE is using it on MULTIPLE FREQUENCIES so you can see what is happening quickly. Once you get used to watching the SLOT MACHINE, it is like watching the waves - you see the crest and you see the fall. Once you get in sync, you'll know exactly what to do.

If all you did was use the TREND indicator and the COMPASS indicator, I think you will see your portfolio value increase. Use the 60 minute and daily radar and trade in the direction the compass tells you. The safest trade is to enter long on a +Cx5 and short on a -Cx5. (COMPASS) Just check the TREND to make sure it's flat or up for long, down for short. It's that simple.

QUICK DEFINITIONS

The SLOTMACHINE PRICE TREND INDICATOR tells you how many consecutive bars the price has gone up/down.

The SLOTMACHINE PRICE/VOLUME TREND INDICATOR tells you how many consecutive bars the price has gone up/down and how many consecutive bars the volume has gone up/down. Simple, huh? Why did I code 2 indicators when you can hide the plots? FOREX doesn't have volume so you don’t need it. But for us equity traders, it's fundamental to watch and see when volume starts to fade. VOLUME PRECEEDS PRICE!

This should really work great on a MULTI-FREQUENCY SLOTMACHINE.

For scalping, I use 1-minute radar, 15-minute radar, 60-minute radar and 1 minute, 5 minute and 15 minute charts (sometimes 60 minute chart too). See a previous post with a screenshot of my workspace. Lately, all I do is wait for GOOG to show a NEGATIVE Divergence on the 1 min ROC and then short it.

The other trade is using my Gridiron Strategy. I just trade with the team that has the "ball".

Trend Analyzer v1.1 (pg11)

1) Uses Intrabarpersist

2) No special dll's required

3) Fixes 0 Trends

4) Enhanced trade detection

To change bars back:

1) place the cursor over the indicator heading and right click

2) click on the first tab (if needed) and you will see additional bars to load and that's where you would enter 400, 800, or 1000.

3) click OK.

What you want is the least number of bars back that is needed for the indicator to function properly. One other thing, make sure you are using REGULAR HOURS during the trading day, otherwise some of the indicators will not be accurate, especially ones using the pivot calculations.

COMPASS / TREND USE

Q: 1. I like to use a minimum number of indicators for choosing stocks. Earlier you proposed that the best way is to use SMAA_COMPASS (60 min) combined with SMAA_DIVERGENCE (60 min).

a) Is there any later or different version of COMPASS, like SMAA_COMPASS_V2 that works better?

A: One compass is not better than the other - just different. The original gives direction only. The latest version gives direction via color and number of bars in that direction.

b) Is it effective to use SMAA_COMPASS for selecting stocks before market opens and then during the market session only use trade indicators like SM_TREND, GRIDIRON, etc? Or is there any need to “update” the selection phase during the market session? In that case, what interval is recommended?

A: Yes, use the compass to select stocks BEFORE the market opens. You can use the COMPASS while the market is open for trading the crossovers and/or RSI(2) tops/bottoms.

c) Is the SMAA_TREND, SMAA_COMPASS the most effective indicators to use in statistical perspective (win/lose ratio)?

A: Don't know.

2. For trading, I understand your method was to use SM_TREND (1min, 5 min) combined with GRIDIRON CHART INDICATOR (1min, 5min) and SMAA_PRICE_VOLUME_TR (1MIN, 5MIN). There are some different versions of SM_TREND available. Which one is preferable?

A: For the Gridiron, I use the 5 and 15 min charts/radar. SM_TREND - again many versions, personal preference.

3. Some traders like STOCHASTIC and RSI indicators before TREND indicators, what is your opinion?

A: If a stock is "range bound" use an oscillator. If it is trending, use a trend indicator.

4. Can your latest posted SMFX indicator be an replacement for early SM_TRADE , COMPASS indicators?

A: SMFX are SLOT MACHINE FOREX Indicators. They are coded for FOREX but some can be used for other instruments.

GRIDIRON / TREND USE

Q. 1. If I am correct, if you use 15 min bar interval for SMAA_TREND and use length 40 for moving average, does it means that we are calculating 40x15=600 min / 10 hours of session back?

A: I use the TREND indicator on multiple frequencies. You can use it on 1 frequency (interval). The TREND indicator defaults are 5, 10, 20, and 40 Moving Averages. I usually use 400 or more bars back. Have I answered the real question?

2. For trading with SMAA_TREND, SMAA_GRIDIRON for 15 min, is there any need for checking moving average for more than 3 days?

A. For the GRIDIRON, I use EMA(5) for direction. You only need to look at the moment, not the past.

3. When SMAA_TREND 5,10,20,40 turns green and SMAA_GRIDIRON turns "TRADE" "Buyers" which is the best setting in BALL ON column, colors etc, simple readings, for enter trade?

A. By the time they have all turned green you have missed the entry. I explained how to trade the Gridiron in that post. I really don't have anything to add.

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SM_TREND

Definition: "UP" MEANS THE PRICE IS ABOVE ALL THE MOVING AVERAGES AND THE MA(5) > 10 > 20

"DOWN" MEANS THE PRICE IS BELOW ALL THE MOVING AVERAGES AND THE MA(5) < 10 < 20

RSI(2) is used to SELECT stocks: When < 1, time to get ready to LOAD THE BOAT and when >99 time to SHORT.

dark blue = RSI(2) < 1

cyan (light blue) = RSI(2) < 2

I use the 60 min and daily - when they both agree, it's a pretty safe trade.

TREND is used to enter a trade:

An all green horizontal row means go long when it turns all green

An all red horizontal row means go short when it turns all red

First, if you wait for "UP" then you missed most of the run! Think about watching "waves": The tide comes in (green) and the tide goes out (red). When there is a change in tide (yellow) that's when you want to establish your position! So the MA(5) will go red, yellow, and then green. As that is happening the MA(10) will go red, yellow, green, followed by the MA(20) and perhaps the MA(40).

But you also have to look at the MA codes "+", "=", "-" to see which direction the MA’s are heading. Again the tide comes in "+" or goes out "-" and "=" indicates a change in tide! Does that make it clearer?

The TREND INDICATOR V2 counts the trend over the last 5 bars - using them both together may make it easier.

In summation, you buy/sell when the tide changes.

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Q: What is the difference between COMPASS & SMA_TREND?

A: The difference is that the SLOT MACHINE COMPASS indicator was designed for stock SELECTION and the SLOT MACHINE TREND indicator was designed for stock TRADING.

The SLOT MACHINE COMPASS is a dual purpose RadarScreen indicator. It's original intent was to be used to SELECT stocks based on moving average crosses and/or low/high RSI(2) on 60 minute and daily interval. It tells you which way the trade should go. But it can also be used to "find" entries during market hours when the swing or scalp columns display a crossing or when RSI(2) is < 1 or > 99.

The TREND indicator is used during market hours to determine which way a stock is trending at the moment. It was designed to be used on multiple intervals so the trader could process screen data faster. Try looking at 4 or more screens filled with 4 MA lines vs. the SLOT MACHINE TREND INDICATOR and you tell me which one you can process faster and with higher accuracy.

DOCUMENTATION:

COLUMN 4 - TREND

UP : CLOSE > MA(5) > MA(10) > MA(20) and all heading north, background GREEN

+ + + + : MA(5), MA(10), MA(20), MA(40) all heading north, background DARKGREEN

+ - + + : MA(5) heading north(+), MA(10) heading south(-), MA(20) and MA(40) heading north, background BLACK

- - - - : MA(5), MA(10), MA(20), MA(40) all heading south, background DARK RED

= = = = : MA(5), MA(10), MA(20), MA(40) all heading sideways, background BLACK

You can figure out the rest of the combinations for the +, =, and -

DOWN = CLOSE < MA(5) < MA(10) < MA(20) and all heading south, background RED

Another way to explain it is:

TREND = “abcd” where:

a is the ma(5) direction up(+), down(-) or sideways(=)

b is the ma(10) direction up(+), down(-) or sideways(=)

c is the ma(20) direction up(+), down(-) or sideways(=)

d is the ma(40) direction up(+), down(-) or sideways(=)

If you get the 60 minute and the Daily in agreement, that stock is a candidate to trade. You can use the TREND indicator from the first post in this thread on a multi frequency RadarScreen to pinpoint your entry. So you are using multiple timeframes. If you are going long, you should see more green and yellow than red in the TREND INDICATOR before you enter. Remember, ANYTHING CAN HAPPEN so be prepared to exit at any time after you enter a trade.

SM_TREND V2

I thought that some traders might prefer to know how long a trend has been trending up, down or sideways. So Version 2 tells you how long then trend for the moving average (default is MA(5)) has been trending. The color tells you the direction of the trend and so does the DIR (direction) column. Green is UP, Red is DOWN and Yellow is FLAT.

In the above screenshot, you can see that RIMM's 5 minute MA(5) has been trending for 1 bar. The maximum number of bars the indicator checks is 5 (current and previous 4).

Perhaps, if I find a better way, I will check back further but I have been told that using arrays is NOT desirable for RadarScreen indicators. Perhaps I was told wrong. Going back 4 bars seems to be far enough for my purposes.

As you can see, you can use both versions of the trend indicator together. I guess I will have to include the length as PLOT 3, just in case you want to load more than one version 2 to track different MAs.

[DATA/20050719032112SLOTMACHINE_TREND_ver2a.JPG ]

The above example shows 4 copies of version 2 loaded. The first is the MA(5), second MA(10), third MA(20) and fourth MA(40). You can see how many bars each ma has been trending. PLOT 2 is hidden in this example. What version 2 gives up is where the price is in relation to the MA.

Once again, the number represent how long the trend has been heading in the direction indicated by the color:

GREEN - UP

YELLOW - FLAT

RED - DOWN

It will count up to 5 bars of trend. In the example above, GOOG's MA(5), MA(10), and MA(40) trending UP for 4 bars, MA(20) trending up 5 bars.

Version 2 of the TREND indicator gives a slightly different look: trend direction and duration. It counts the direction of the trend up to 5 bars. One day, I or someone else will improve this and it will count higher!

SM_COMPASS

A compass tells you which way you are headed. My compass indicator tells which way a stock is headed - big picture. When the 60 minute and daily compass "agree" on which way a stock is headed, it usually pays off like a slot machine. The safest trade is to enter long on a +Cx5 and short on a -Cx5. Just check the TREND to make sure it's flat or up for long, down for short. It's that simple.

Definition:

COLUMN 1 SWING TRADE:

LONG/SHORT: DIRECTION OF TRADE

+13X26: EMA(13) CROSSING ABOVE EMA(26) - GO LONG

-13X26: EMA(13) CROSSING BELOW EMA(26) - GO SHORT

COLUMN 2

SCALP TRADE: LONG/SHORT: DIRECTION OF SCALP

+CX5: CLOSE CROSSING ABOVE EMA(5) - GO LONG

-CX5: CLOSE CROSSING BELOW EMA(5) - GO SHORT

COLUMN 3

RSI(2): When rsi(2) < 1 (background blue), time to LOAD THE BOAT!

If you use the SLOT MACHINE COMPASS INDICATOR on a 60 minute interval, you can make trades based on the SWING and SCALP crossovers. You can also buy the bottoms and short the tops based on RSI(2). It's very simple yet highly profitable. If you add the SLOT MACHINE DIVERGENCE INDICATOR, you can find very profitable entries.

The SLOT MACHINE COMPASS indicator is can be used for:

1) stock SELECTION

2) stock TRADING.

I use it as a compass to tell me which way I should be trading a stock, hence the name compass. Before the market opens, I look to see which way the SLOT MACHINE COMPASS indicator tells me to trade a particular stock. I use the daily and 60 minute intervals. If they match, then I trade in that direction. If they don't match, then I usually find another stock to trade. I like to "bottom fish" and that means I look for RSI(2) to be less than 1. That's one way I pick the day's trades.

You can use the SLOT MACHINE COMPASS during trading hours to trade. The best trades are when you get a crossover to the upside after the stock reverses off an RSI(2) bottom or a downside crossover after a stock has had RSI(2) > 99. Just keep in mind that I use more than one indicator to make a trade. All it takes is ONE INDICATOR to prevent an entry.

Look at RIMM on a daily and 60 minute chart with the EMA(5), EMA(13), EMA(26) and RSI(2) indicators. I think you will see which way you should have been trading the past 2 weeks and when to make the switch.

The SHORT is under SCALP which means the price of the stock is below the EMA(5).

The RSI(2) is dark blue which means the RSI(2) is less than one.

For completeness, SHORT under SWING would mean the EMA(13) is below the EMA(26).

Another way to look at it is this:

The SCALP part of the compass is saying take the SHORT road and the RSI(2) part is saying the road ends soon! See how they work together?

Q: Is there an explanation anywhere as to what to look for on the COMPASS, i.e." posDiv & Green+ on the L/R & Green + on the AccDist" as a the most likely candidate to trade the next day?

A: CLASS IS IN SESSION:

1) If RSI(2) is below 1 and SWING IS LONG - OK TO BUY

If RSI(2) is above and SWING IS SHORT - OK TO SHORT

2) If SWING is 13x16 green - trend is turning up

If SWING is 13x16 red - trend is turning down.

3) If RSI(2) is showing POSITIVE DIVERGENCE and SWING is LONG - LOAD THE BOAT!

If RSI(2) is showing NEGATIVE DIVERGENCE and SWING is SHORT ...GET YOUR SHORTS ON!

4) If SCALP is showing Cx5 green and SWING is LONG... go LONG.

If SCALP is showing Cx5 red and SWING is SHORT... go SHORT.

Q: I had chosen VPHM using my Center of Gravity chart indicators on Weekly, Daily, 60, 15 & 5 Min charts. However, when I plugged them into your COMPASS it gave me a COMPASS LONG - swing and trade, but all the other signals were indicating "red". I watched VPHM on your "GRIDIRON Charts" as it ran up nicely and it was amazing to watch. I, did, however wish I knew what I was looking for at the time? For instance - when it hit "50YL", what would be your expectation for the stock at that time? And what would you look for on the indicators to help you decide what to do at that time, re: Sell, hold?

A: 50 yd line is MID FIELD. It's a coin toss which way it goes - look at the SCALP a.k.a. EMA(5) for direction most likely to go. I am still trying to figure out how to compute the angle of the EMA(5) to MY SATISFACTION. Until then, use the EMA TREND indicator for direction.

Remember, if you have a profit, you can always sell part of your position to lock in some profit and set a breakeven stop. May I suggest you KEEP IT SIMPLE. How many indicators do you really need? Focus on trading not indicators.

Q: I also used your SM COMPASS last night - again what are the interpretations of each readout on the SM RS screen as well?

A: The COMPASS tells you what direction to trade in according to the trend. The SWING trend is for swing trades usually 1 or more days. The SCALP trend is for intraday daytrading.

COMPASS INDICATOR Version 2 displays how long since the closed crossed above/below the fast EMA line (user input default = 5) and how long since the medium EMA line (user input default = 13). crossed above/below the slow EMA line (user input default = 26).

This should enhancement help the swing traders make better trading decisions. May even help fellow scalpers. This version allows you to use your favorite EMA’s instead of mine. Also the iPeriod user input (default = 200) tells the MRO function how many bars back to look. This version is FOREX friendly because it allows you to determine the number of decimals to use in computations (user input decimals default = 2).

There is an "Auto" mode and a "Manual" mode. Default is "Auto". When in Auto mode, the RSI period is 2 for 15 minute or higher intervals. For 1 - 14 minute intervals, the RSI period is 10. RSI(2) whips around too fast in lower intervals. When in Manual mode, the user specifies the period to be used and the frequency (interval) to which it applies. This version has a different name just in case some of you prefer the original.

SLOT MACHINE NORMALIZER

This will allow you to compare up to 4 indicators. Some indicators like, RSI(2), range from 0 - 100, some indicators, like CCI, range from -100 to +100, others, like MACD, from - to + whatever! This indicator will "normalize" the range of each indicator from 0 to 1 based on the HIGH and LOW of the range you give it. This allows you to quickly compare your indicators to one another. This indicator is perhaps the most powerful SLOT MACHINE INDICATOR I have written!

The SLOT MACHINE NORMALIZE Indicator gives the trader the ability to load an indicator and have its values normalized between 0% - 100%. This means you can compare MACD to CCI or MACD(12,26,9) to MACD(8,29,16)! So you can load your radar with 2 or more copies of the SLOT MACHINE NORMALIZE Indicator and see if the indicators are peaking or bottoming on the same scale.

Just enter the indicator you want normalized in the iIND input. Make sure you enter all of the indicator's parameters properly or it will not work!

iPeriod is the number of periods to look for the high/low, which is the basis of the normalized value. Default is 250.. 250 trading days in a year.

Hi Bar is number of bars ago the highest value occurred during the period.

Lo Bar is number of bars ago the lowest value occurred during the period.

Ind% is the current position of the indicator in the range as a percentage. 100% means at the top of the range. 0% means at the bottom of the range.

In the example, the SMAA Normalize:2 is MACD and SMAA Normalize:1 is CCI. You can see AMZN's MACD is at 47.59% of the MACD range for the last 250 periods and AMZN's CCI is at 65.10 % of its range. This gives you the flexibility to know when a "real" bottom or top is happening as compared to previous tops/bottoms for the period. Of course, the real power comes when you use multi frequency radar: Now you can see how the indicators are positioned across multiple intervals. Once again, the normalized values show bottoms/tops based on the entire period analyzed.

I also wrote a normalize function so my fellow programmers can use it in their easy language coding. Included is a version of the SLOT MACHINE NORMALIZE indicator that calls the normalize function. You can load up to 4 indicators (functions) to be displayed normalized. Remember to turn the swithces on if you want to see them displayed.

The 8.1 version of the NORMALIZER can have more plots, colors, indicators, etc. But I am still using 8.0. I choose the defaults based on the work done by Mike Parker with his MP ANALYZER. You can find Mike's work at .

SMAA_DIVERGENCE

It shows if there is a divergence between price and RSI(2). This setup is for STOCK SELECTION.

When you find stocks with POSITIVE DIVERGENCE, you will want to load the boat when they start the move up - usually when you get a +CX5 under Scalp.

If you get the following three events happening with a few days of each other, it's pretty much money in the bank:

1) RSI(2) < 1

2) DOJI candlestick

3) Positive divergence.

When you find stocks with NEGATIVE DIVERGENCE, you will want to sell short when they start to drop - usually ASAP or when you get a -CX5 under Scalp. Especially if the stock hit the upper Bollinger Band and/or Upper Linear Regression channel (Yes, I have those coded too for the SLOT MACHINE).

DIVERGENCE column:

The 2PD - 11PD mean that a stock was showing positive divergence over 2 - 11 periods.

The 2ND - 11ND mean that a stock was showing negative divergence over 2 - 11 periods.

NEGATIVE DIVERGANCE: When a higher price is making a lower RSI(2) value. It signals the stock is just about done making new highs.

When I am scalping, I use a 1 minute RSI(10). I usually wait for the 3rd time Negative Divergance rears its head and then I go short.

This was NOT designed for trading, only for selection. RUN THIS WHEN THE MARKET IS CLOSED! It works in real time but was designed for SELECTION, which should occur when the market is closed, IMO.

SLOT MACHINE CROSSOVER INDICATORS.

Someone was kind enough to thank me and said that the TREND INDICATOR was just what they needed because they were working with moving averages. So I am providing these indicators to help you. You can change the inputs for the fast and slow lines. They default to 3 and 6.

The FxS column tells you if the FAST line is OVER/UNDER the SLOW line.

The FAST and SLOW column work like the TREND indicator..

+ : average going up

= : average flat

- : average going down

If background is:

green : close above average

red : close below average

yellow: close crossing above average + is black

yellow: close crossing below average + is red

The MAs/EMAs column just tell you what your inputs are in case you use more than one crossover. Once you get the hang of it - it is so much faster than reading multiple charts, you'll wonder why you never thought of it yourself!

The SLOTMACHINE WFG (Wait For Green) INDICATOR tells me when a stock is green. It sounds simple, but trading, when done properly, is simple. It also has a couple of VOLUME THRESHOLD inputs so when they are exceeded the background color changes.

The indicator tells you if the stock price is above or below the previous price and if it is within 2% of the previous close. It is to be used for trading the Muddy Method Wait For Green. It also has volume threshold inputs to shade the volume when the threshold is surpassed.

The LAST column also changes color to indicate when a Bollinger Band has been touched or a new daily HIGH/LOW.

In the screenshot, RIMM is at the Lower Bollinger Band on the 5 minute chart.

SLOT MACHINE INDICATOR - LAST

The SLOT MACHINE LAST INDICATOR is used to indicate where the price is on the chart using color codes. A brown background indicates a Bollinger Band was touched (foreground green for upper BB and foreground red for lower BB).

The SM_LAST indicator displays many different conditions such as HIGH/LOW of day, MA crossover, Bollinger Band touch, Linear Regression touch, etc.

Last is color-coded so you don't have to look at a chart to know where the price is.

BACKGROUND (foreground) COLORS:

WHITE - at new high (green) or new low (red) for the day

BROWN - at/above upper (green) or lower (red) bollinger band

GRAY - at/above upper linear regression (hint: gray = clouds)

DARKBLUE - at/below lower linear regression (hint: blue = ocean)

RED - between open - 0.10 and open - 0.20 SHORT ENTRY ZONE (white, first time in zone, yellow 2nd time or more)

GREEN - between open + 0.10 and open + 0.20 LONG ENTRY ZONE (white, first time in zone, yellow 2nd time or more)

BLACK - nowhere in particular

The inputs:

iColor("ON"),

iMALength1(5),

iBuyZoneMin (.10);

If the colors drive you crazy (left radarscreen), you can turn them OFF(right radarscreen)!

I included a close crossing moving average test. Default is MA(5).

I included close crossing pivot lines from S4 to R4.

SLOT MACHINE CCI INDICATOR

XZ UP - CCI crossing above the zero line

XZ DOWN - CCI crossing below the zero line

XA UP - CCI crossing above the CCI AVERAGE

XA DOWN - CCI crossing below the CCI AVERAGE

UP - CCI heading up

DOWN - CCI heading down

N/T - CCI = CCI AVERAGE

Remember, the SLOT MACHINE is just another way of looking at chart data. It is NOT a trading system, per se. It was designed to help you interpret chart data faster and make more accurate trading decisions.

Higher prices making lower CCI means negative divergence.

Lower prices making higher CCI means positive divergence.

SLOTMACHINE INDICATOR - PIVOTPOINTS

The PIVOT column is GREEN when the close crossed ABOVE a support/resistance line.

The PIVOT column is RED when the close crossed BELOW a support/resistance line.

The value of the column is the line that was crossed:

R1 = Resistance 1, PP = Pivot Point, S2 = Support 2.

The PA column is the "distance" the price is above the last pivot line crossed above.

The PB column is the "distance" the price is below the last pivot line crossed below.

There is a THRESHOLD input. When the price is within the THRESHOLD difference from a pivot line, the background turns DARK GRAY. Default is 0.05, so when the price is five cents or less away from a pivot line, the column has a dark gray background.

Yellow background, as always, means the price is crossing over/under that line THIS BAR.

NOTE: One thing I can't figure out is the reason a different pivot line is displayed in the multi frequency radar. In the example, for the QQQQ it shows S1 in the 15 min frequency and PP in the 60 min frequency - a head scratcher!!

SLOT MACHINE INDICATOR - BATTLE LINES

A new trader happened to stop by my chatroom (2% club) today. He traded futures. I don't really know much about futures but am willing to learn. I was stuck in RIMM at the time and he told me that he doesn't use indicators. He looks at the chart and sees the support/resistance areas and places his trades accordingly.

I kept asking how he knew a certain price was a S/R level. He explained it to me a few times (sometimes I don't "get it" the first time). I looked and looked at the chart as he spoke. We watched RIMM go up and down and breakthrough only to fall back.

I thanked him for his time and studied the chart. I tried playing with Fib numbers, dividing the area by 3 or 4 and then finally it hit me! THE 80/20 RULE: If you look you will see where most of the activity took place throughout the day. Between the 80 and the 20 lines. Those were close to the support/resistance lines he had drawn.

Now, I just learned this, so I don't know how well it will work tomorrow and the next day, but it seems to make sense. Hopefully it will make me and you DOLLARS AND CENTS...LOL!

The SLOT MACHINE indicator is color coded to let you know where in the range the price is: BLUE IS FOR BOTTOM and GRAY is for top. (Think deep blue sea, gray skies)

I programmed it to use the FLOOR PIVOTS from S4 - R4. I guess I could go higher/lower but I think this will do for now. Some of you old pros may laugh cause you have known this forever. All the SLOT MACHINE and chart indicators are included. I included the workspace too. Now, I coded this so you can use numbers other than 0.20, 0.50 and 0.80 as inputs. You may prefer Fib numbers, or something else.

The iTHRESHOLD input variable default is 0.05. If the price is within +/- 0.05 of a "BATTLELINE", the background will be YELLOW. I may change this to 0.01, we'll see.

Use my latest SLOT MACHINE INDICATOR, BATTLELINES, to make sure you are NOT entering when you should be waiting. You want to buy just above support rather than just below resistance.

Realize that once a stocks gets above the 0.80 line, it's like the offense of a football team trying to score a touchdown, the defense stiffens in the red zone (that last 20% of the field) and it's tough getting across the goal (resistance) line. (That gives me an idea.. I wonder if should change the color to red.)

You have to decide if you are daytrading or swing trading BEFORE you enter the trade. Don't do like I do and hold on too long!

Battle lines are points between support and resistance lines where buyers and sellers put up a "battle" - they struggle as to which way the price is going to go. Think of the distance between a support line and a resistance line as a football field. The 50 yard line is midfield. The 20 yard line on either end is the RED ZONE. Defense gets tough in the RED ZONE and it's hard to move the ball (price) over the goal (support/resistance) line.

• Buying in the bottom RED ZONE should be a safe entry as your defense will resist the price dropping below the goal (support) line.

• Having a STOP LOSS in the upper RED ZONE will allow you to keep most of the profit if your team can't get the ball (price) across the goal (resistance) line.

At the kickoff(the open), you determine who's ball it is by the candle color green/white(buyers have the ball), red/black(sellers have the ball). Use 15 minute candles.

Since one of the questions traders ask is "WHEN DO I SELL?" I now have another answer - when the defense stiffens! If you bought, and the buyers are driving down the field (price going up), expect the defense to get tough at the 50 yard line, tougher at the 20 yard line and really tough at the goal line (resistance). That's when you can sell.

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I have been trading RIMM. Use a 15 minute candle chart (15 minutes in a quarter right? LOL!) and you will see just how much money you can make scalping between the buyer's goal and their 20, their 20 and midfield, midfield to the seller's 20 and from the seller's 20 to the goal line (resistance). It is amazing (to me) how easy it is to buy at one line, place you sell order at the next line, sit back and watch as the sell order triggers.

Now, if you want, you can switch teams every quarter (that's what I do) and make money as a seller by going short. This takes all the guess work of out the scalp and I don't really need any indicators to do it, just buying and selling at predetermined lines.

The EMA(5) line has been added to indicate whether or not I should switch teams at the end of a quarter.

If the buyers have the ball and the price is above the EMA(5) then you stay in the trade.

If the sellers have the ball and the price is below the EMA(5) then you stay in the trade.

Of course, you can feel free to take profit whenever you want. REMEMBER, you can always close out half your position to lock in profit!

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I use the 15 minute to determine the team and the 5 minute to see who is winning the line of scrimmage. The top radar is 15 minutes and controls the entries. The 1 minute radar is to check the trend and the 60 minute is used to keep an eye out for extreme conditions. I have Tick/Trin to watch the market. Time/Sales and the Trading Matrix are missing from the shot.

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The GRIDIRON DAY TRADING STRATEGY was presented to show how you can trade using the previous 15 minute candle's close. The GRIDIRON is the combination of the concept of support/resistance with the concept of overbought/oversold.

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I wrote the GRIDIRON TRADE INDICATOR to tell the trader which way they should trade, alert them to the trade and when to consider the exit. You also use the CANDLE indicator in this strategy. Of course, you need to use the GRIDIRON chart indicator too so you have the lines on your 15 minute chart.

T.O.P. is TIME OF POSSESSION how long the team has had the ball though it is NOT working exactly the way I want it to... should be in minutes:seconds just like a football scoreboard.

BALL ON is the distance from the closest support/resistance line. Green indicates buyer's side of the field, red indicates seller's side of the field.

You know once the ball gets between the 20 yd line (overbought/oversold) and the goal line (support/resistance) there will be a battle. So that's where you either buy/cover or sell/short depending which on team has the ball.

Once you get the hang of it, trading looks just like a football game and remember you always want to be trading with the team that has the ball at the time!

How to use the SLOTMACHINE GRIDIRON workspace:

1) load in the ticker for the stock you want to trade, in the RadarScreens and the charts.

2) The color of the CURRENT 15 minute candle determines "who has the ball"...

GREEN = buyers have the ball

RED = Sellers have the ball

Remember a football "quarter" is 15 minutes.

In the upper right, you will see a TRADE column. When it says WAIT, just sit there and wait... trust it. When it says trade, you trade with the team that DID NOT HAVE THE BALL LAST QUARTER.

So if the previous 15 minute candle was RED (sellers), you trade with the buyers (long). You place your trade when the TRADE column says TRADE... DO NOT HESITATE!

Now here comes the hard part - you must really trust the system to reap maximum profit. Place a sell limit order (if long) or a buy to cover limit order (if short) at the next gridiron line. It's that simple. You will be tempted to exit early (voice of experience here) but if you do, you will miss out on gains (happens to me more than not).

Another trading option is to place an order to sell 1/2 your position. That way, if your team keeps marching down the field, you make more money.

If you look closely at the chart, you will see how much I left on the table. Had I only waited for the buyers to get to their 20 yard line.

The reason I have a 5 and 15 minute charts is just to watch the plays. A 1 minute chart causes overreaction on my part. But a 5 minute chart clearly shows if my team is moving the ball or losing ground.

If you think this FOOTBALL stuff is nonsense that's ok. It works for me and that's what's important to my portfolio.

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Q: Thanks for the Slot Machines you have shared with us. I am new to TS and am just learning my way around. Have been using your "Slot Machine as of 2005Aug25.tsw" today and am impressed with your GRIDIRON chart indicators and Slot Machine RS readout. However, I am not familiar with the terminology that you use for your Chart and RS readouts. Is there an explanation of what each term, i.g.,"BuyZone Short" , "Buyer 20$20.20", "50YL $20.36", etc.? and how we should interpret them?

The BUYZONE can be considered the "trade zone" or "entry zone" ( I misnamed it..lol).. That is where you should enter the trade. So BUYZONE SHORT means, enter the trade SHORT.

The Buyer 20 is the 20 yard line of the buyers or the oversold line. The 50YL is midfield or halfway between support and resistance. I use football terminalogy to describe the chart.

A few people have been inquiring about what I am looking at while trading. Believe it or not the main thing I look at is the BALL ON column of the GRIDIRON TRADE INDICATOR. This tells me how close I am to support/resistance.

When BALL ON is counting down and gets close to 20, I check to see if the buyers or sellers have the ball (Possession column) and then I check the 5 min chart to see who is controlling the line of scrimmage. A quick look at the trend confirms whether or not to take the trade. I also check the Divergence and ROC Divergence to see if a SHORT (ND) is coming up.

If the ball is near the 50-yard line, I usually pass on the trade. Why enter halfway between support/resistance?

The following is posted on my monitor:

WHO HAS THE BALL?

WHO IS CONTROLLING THE LINE OF SCRIMMAGE?

That reminds me not to short if the candles are green and not to go long on a red candle. Really simple and basic stuff here.

SWISS ARMY KNIFE

I created the "Swiss Army Knife" for the SLOT MACHINE. Since some of you are NOT programmers and are intimidated even thinking of editing ELD code, I figured out a way to give you a flexible "indicator" that you can "program" via input parameters. Others have done this with code, so I didn't invent it; I just adapted it to the SLOT MACHINE.

In the example, the SLOT_MACHINE_MULTI_IND on the left has 4 different indicators (ROC, TSI, CCI and TRIX) as inputs. The SLOT_MACHINE_MULTI_IND on the right has 4 RSI indicators as input each with a different period.

The charts below reflect the 1 min line of the MULTI FREQUENCY RadarScreen.

I got this idea when I was thinking about overbought/oversold conditions. Some people like to use more than 1 oscillator, others think one is enough. The SLOT MACHINE MULTI INDICATOR allows both camps to use radar to their advantage.

After watching RIMM tank on Friday, only to bounce back, I was thinking the 15min and 60 min RSI(2) must have been 0.0x something, but when would I have entered? Had I had a 1 min RSI(10), I would have known when to enter. The SLOT MACHINE MULTI INDICATOR would allow me to do that.

The idea behind this is to show when the indicators are overbought/oversold. I am sure watching RIMM with this would have been fun as one indicator after another turned cyan. After they had all bottomed, there was no place left to go but up! Having MultiFrequencies AND MultiPeriods almost makes this SLOT MACHINE unfair.

The i1Ind... i4Ind inputs are the indicators you want to use. Just enter the indicator with all of its inputs in the box. The overbought/oversold inputs are the levels where you want the colors to indicate those conditions.

The iCrossOver inputs are for the crossover point you want indicated (usually 0 (for ROC, CCI) or 50 (for RSI)). The default color scheme is black on yellow for crossover and red on yellow for crossunder. I am sure if you play with this indicator you may find something else of value. If you do, please share.

The SLOT MACHINE SWISS ARMY KNIFE Indicator displays the direction of the indicator's trend, the value, number of bars of the trend and a crossover message. Once again, you can use this to display just about any indicator.

I was working on the NORMALIZER this morning and the first divergence test didn't do exactly what I wanted it to do. It was a divergence selection routine rather that a divergence trade routine. So you get them both! The only difference is the TRADE indicator only looks for a divergence using the current bar as the starting bar. The SELECTION indicator loops and looks for 2 period divergence over the last iDivPeriods and if it doesn't find one, looks for 3, 4, 5, ... iDivperiods divergence. So it starts with bar 0, then bar 1, etc.

When I am selecting stocks to trade (when the market is closed), I want to know if there has been a divergence over the last 10 periods.

When I am trading, I want to know if the instrument is currently exhibiting a divergence.

This is a SWISS ARMY KNIFE INDICATOR so the indicator to be tested is an input.

I made these stand alone indicators so you can build your own SLOT MACHINES. Remember, I coded the SLOT MACHINE SWISS ARMY KNIFE so you can use whatever indicator you want in the SLOT MACHINE. The "trick" is you have to call the function instead of the indicator.

The ModHA paintbar calls the HA function:

Dir = HA(CompBars,haOpen,haClose);

color = IFF(Dir = 1,UpColor,DnColor);

The HA function has OUTPUTS and that's not allowed. So I created the fHA function and copy/pasted:

{fHA Function WAV 9/05 returns haOpen and haClose and direction 1 (up), -1 (down), or 0}

inputs: CompBars(NumericSimple);

vars: haClose(0),haOpen(0),Dir(0);

haClose = (Open+High+Low+Close)/4;

if BarNumber = 1 then

haOpen = Open

else

begin

haOpen = (haOpen[1] + haClose[1])/2 ;

Dir = IFF(haClose > haOpen,1,0);

Dir = IFF(haClose < haOpen,-1,Dir);

for value1 = 1 to CompBars

begin

if haOpen = MinList(haOpen[value1],haClose[value1]) and

haClose = MinList(haOpen[value1],haClose[value1]) then

Dir = Dir[value1];

end;

end;

{haOpen = haOpen; haClose = haClose;}

fHA = Dir;

I just "removed" the outputs so now the function returns a number and can be used as input to the SWISS ARMY KNIFE. So, once again, I really don't have to code SLOT MACHINE indicators anymore and neither do you! Just use the SWISS ARMY KNIFE indicator. I have made a few updates to indicators and they are included in the ELD.

I added a "blade" to the SLOT MACHINE SWISS ARMY KNIFE - DIVERGENCE. The Multi-Tool already had it so I just added it to the SAK to make it complete. So if you just need 1 indicator displayed you can use the SAK. If you want more than one, you can either load up multiple SAKs or use the Multi_Tool. Either way, you don't have to code indicators.

The NORMALIZER, SAK(Swiss Army Knife), TRENDENDER and MULTITOOL are all interval sensitive. So I wrote a function to check what interval is being used and to set the normalization period accordingly. If you change iMode to anything other than "auto" then the indicators work the same as before. With auto mode turned on, they are all synchronized with each other, that is, the charts will match the radar.

SLOT MACHINE MULTI INDICATOR may or may not be of benefit to my fellow programmers. Perhaps it will give you an idea. But I truly believe this makes the MULTI FREQUENCY SLOT MACHINE more accessible to all.

Remember, I just mentioned creating a "SWISS ARMY KNIFE" indicator for overbought/oversold. The lightblub went off again and I created a " SWISS ARMY KNIFE " trend indicator! The indicator is an input so you can use this code to check the trend of any indicator!

iInd input is the indicator you want "trended".

iMROPeriods input is how many periods you want to look back.

iMROoccur is what occurrence you want to use... IMPORTANT, SHOULD BE SET TO 1 to get the correct trend count. I softcoded it for flexibility in case someone wanted to play with it.

In the example, RSI(2) is the first SLOT MACHINE indicator and EMA(5) is the second SLOT MACHINE indicator.

What I have done is:

1) Allowed for the indicators to be inputs so you don't have to recode;

2) The sender screens have the SLOT MACHINE color codes and logic;

3) All the names are inputs;

4) The code detects what interval it came from and allows for MULTI FREQUENCIES.

In the example, you can see A, B, C on the 1 min interval. D is on the 1 and 5 min intervals.

Sender screen 1 is RSI(2).

Sender screen 2 is MACD(12,26)

Sender screen 3 is CCI(14).

Receiver screen displays the results.

You can make custom versions of the Receiver screen to process the data from the sender screens.

Here's what the input for sender screen 1 looks like:

[pic]

Here's what the input for receiver screen looks like:

[pic]

I think this will allow NON-Programmers to build a more complex RadarScreen with ease. This should allow programmers to take this to the next level.

I added tests for POSITIVE and NEGATIVE divergence to the MultiTool. It tests for divigence from the current bar and looks back iDivPeriods. Dark gray on white means POSITIVE divergence. Dark blue on white means NEGATIVE divergence. Of course, you can turn it ON or OFF via input.

I added 2 more functions so I had rename the indicator. The iExtreme inputs are for when all of the specified indicators are oversold / overbought. Separate color settings so they stick out like a sore thumb. And if you want to code an alert, you would insert the code in that section of code.

The iDefault setting allows programmers to code default settings so you won't have to keep typing in the same indicators over and over. Guess who got tired of typing!

The example shows my "ws" default which I use for pure scalping.

When all the lines peak: GO SHORT.

When all the lines bottom: LOAD THE BOAT... GO LONG.

I uploaded the radar (_SMAA_MULTI_TOOL) and chart (_NORMALIZER_D) indicators in the ELD.

ENHANCED SLOT MACHINE INDICATOR - MULTI TOOL

Q: Avery, I’m dying here trying to figure why you want 3 columns when one will do (I love the default color scheme of the Multi Tool). One column with a numeric value from “0” to “300” will do just fine. If the value is “0” then I know the thing is at bottom of all three indicators. Likewise, if the value is “300” then I know it’s way overbought.

Therefore the scale is 0 to 300 (not “0” or “300” but a numeric value of all three columns combined). Having three columns and a chart with three indicators (superimposed) is redundant.

The only problem is that if I try adding the Ind’s the numbers don’t add up (I’m clueless). Still can you humor me, please, and either provide the code or build the thing with one combination column. I’ll insert it next to the old one to make sure the numbers are adding correctly.

A: I added a "ALL IN ONE" Input switch just for you Tim!

[pic]

Now you have the option of having 1 - 4 separate columns or having them added up and divided by the number of columns to keep the scale 0 - 100.

The ALL IN ONE mode allows you to sort on the column and have the stocks ranked. Makes it easy to find your next target. But there is a valid reason to have 4 columns and the chart with the lines in the same plot... IT IS A SCALPING MACHINE!

ALL IN ONE = true is for SELECTION.

ALL IN ONE = false is for TRADING. When I see the blue line cross above the yellow line and the yellow line is trending higher, that's a long entry for a scalp. Same when the blue line touches bottom and reverses. When the red line crosses over 50 that's a long entry/scalp too. This is one heck of an indicator if I do say so myself. I bet there are ways to use it that I haven't even thought of yet. Comments and ideas welcome.

EXAMPLE OF USING MULTI TOOL:

I wrote the CANDLE BREAK indicator because I was thinking about a strategy and wanted to test it. Then I realized I should have just written a SAK BREAK indicator and used the inputs. The candle break inputs I used are yesterday's open and close. Then I realized the MULTI TOOL just might work.

Here's what I did with the Multi Tool. I turned off everything by setting the inputs to FALSE:

I used CLOSE as the input.

I used minlist(closed(1),opend(1)) as the oversold condition.

I used maxlist(closed(1),opend(1)) as the overbought condition

I used opend(0) as the midpoint crossover.

So I "faked" out the MultiTool into giving me what I wanted.

What I am doing is looking to go long when the close crosses above the top of yesterday's candle body and go short when the close crosses below the bottom of yesterday's candle body. With the Multi Tool, I can also trade the open cross – a very simple strategy. So once again, the SLOT MACHINE MULTI TOOL Indicator just about eliminates the need to do programming.

SLOT MACHINE INDICATOR - TREND ENDER

This looks like a breakthrough! The TREND ENDER normalizes the input (close) and tells you when it stops rising or falling. As the price rises and hits 100, the 100 stays pinned until the price backs off. When it does, that run of the trend is over. As the price rises and hits 0, the 0 stays pinned until the price rises. When it does, that run of the trend is over.

See the blue line hit the top, and start to crawl? IT IS PINNED. If you own the stock you stay in until the line drops, then you sell. Or, if you are not in the trade, you short it when it drops. Use this along with your other indicators to help you time your entries/exits.

The Alert column tells you when an extreme condition has been hit or that the last trend has ended. The Last Trend column tells you the direction of the last trend. This only indicates trends off the top or bottom. Simple.

The NORMALIZER, SAK (Swiss Army Knife), TRENDENDER and MULTITOOL are all interval sensitive. So I wrote a function to check what interval is being used and to set the normalization period accordingly. If you change iMode to anything other than "auto" then the indicators work the same as before. With auto mode turned on, they are all synchronized with each other, that is, the charts will match the radar.

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