SMT Divergences

SMT Divergences Indicator for NinjaTrader 8

The SMT Divergences indicator is a powerful tool designed to highlight SMT (Smart Money Technique) divergences between the chart symbol and two user-selected tickers (default: ES and YM). This indicator provides valuable insights into market dynamics by identifying diverging swing points between different securities.

Key Features:

• SMT Divergence Detection: Automatically detects SMT divergences by comparing swing points on the chart symbol with those on selected external tickers.
• User-Configurable Tickers: Select any two tickers for comparison to tailor the indicator to your specific trading strategy.
• Swing Lookback Setting: Customize the calculation window used to detect swing points, enhancing the accuracy and relevance of the detected divergences.
• Statistics Dashboard: A comprehensive dashboard displays SMT divergence statistics directly on the chart, providing a quick overview of market conditions.

Dashboard Features:

• Show Dashboard: Enable or disable the display of the statistics dashboard on your chart.
• Location: Adjust the position of the dashboard for optimal visibility and convenience.
• Size: Customize the size of the dashboard to fit your chart layout and preferences.

Usage Instructions:

1. Swing Lookback Configuration: Set the swing lookback period to define the calculation window for detecting swing points.
2. Comparison Tickers: Enable the comparison feature and select the external tickers (default: ES and YM) to detect SMT divergences.
3. Dashboard Customization: Choose to display the dashboard and configure its location and size to suit your needs.

How It Works:

• SMT Divergences are identified by detecting swing points on the user’s chart and comparing them with the selected external tickers.
• If a swing point on the chart ticker coincides with a swing point on the external tickers, a comparison is performed to detect divergences.
• The detection process requires swing point confirmation (default: 3 candles), making this indicator ideal for studying price behavior during SMT divergences.

Dashboard Insights:

• The dashboard shows the number of SMT divergences that occurred at swing highs and swing lows between the chart ticker and the external tickers.
• The returned percentage indicates the proportion of swing highs or lows that led to an SMT divergence, providing a clear metric for evaluating market conditions.

Snapshots:

• The indicator provides visual snapshots of detected divergences, illustrating how swing points diverge between the selected securities.

The SMT Divergences indicator for NinjaTrader 8 is an essential tool for traders looking to gain deeper insights into market movements and capitalize on SMT divergence patterns. Enhance your trading strategy with this advanced indicator and its comprehensive dashboard.