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Tuesday, April 20, 2010

FW_MMG code is broken by KumoBob

I don't like proprietary TOS code. First it provides little insight to the indicator and how it works which to me makes it worth less. Second it does not promote or benefit others with knowledge that could be used to write even better indicators. Williams, Chaikin, Ehler, Dormeier, Elliott and many other great traders freely shared their work. It strikes me as conceited to prioritize a script.

Yesterday one of my readers wanted help with David Elliott's system (no relation to RN Elliott). I briefly answered his questions but FW_MMG is a proprietary TOS study, and that just annoys me. While I was on the FW_Dev team, even I was not allowed to see the super secret code. Now I'm glad I didn't because it would be unethical to reveal the code if I had seen it.

So this morning I set my mind around deciphering the code. It uses two very simple and common indicators. The trick was getting them on the same chart and figuring out what makes the arrow appear when they do and what criteria changes the color of the plot.

It took a few hours and I'll admit I have not quite figured out the cloud, but I'll leave that for one of you to figure out.

My clouds are not exactly the same, but the FW people do not use them anyhow so it must not be a big deal.

The code can be copied and pasted into your scripts if you like.
I've renamed it to WmR_CMF

There have been problems posting scripts on
So get it from my DropBox  CLICK HERE

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