The formula for Up Fractal is:

(If( HIGH > Ref( HIGH , -1 ), 1 ,0 ) AND If( HIGH > Ref( HIGH , -2 ),1 ,0 )

AND

If( HIGH > Ref( HIGH , +1 ), 1 ,0 ) AND If(HIGH>Ref( HIGH , +2 ), 1 ,0 ))

The formula for Down Fractal is:

(If( LOW < Ref( LOW , -1 ), 1 ,0 ) AND If( LOW < Ref( LOW , -2 ), 1 ,0) AND

If( LOW < Ref( LOW , +1 ), 1 ,0 )AND If( LOW < Ref( LOW , +2 ), 1 ,0 ))

Put the formulas in a new Expert with up arrows and down arrows in graphics with appropriate colors. Hope this will be of help.

Manoj P Abraham

Manoj Abraham  manopab@hotmail.com

That formula was for the MetaStock Expert. Create a new Expert and put the same in the symbols section and apply it. It will highlight the points where these occur. If you want to plot the same as lines, check this out. Use the Indicator Builder to create these two indicators.

Fractal Up

ValueWhen(1,(( HIGH > Ref( HIGH , -1 ) ) AND ( HIGH > Ref( HIGH , -2 ) ) AND ( HIGH > Ref( HIGH , +1 ) ) AND ( HIGH > Ref( HIGH , +2

))),C)

Fractal Down

ValueWhen(1,((( LOW < Ref( LOW , -1 )) AND ( LOW < Ref( LOW , -2 )) AND ( LOW < Ref( LOW , +1 ))AND ( LOW < Ref( LOW , +2 ) ))),C)

I use the fractals (we call them minor tops and minor bottoms) to add to my existing positions. Hope this helps

Manoj P. Abraham

The formula for Up Fractal is:

If( HIGH > Ref( HIGH, -1 ), 1 ,0 ) AND

If( HIGH > Ref( HIGH, -2 ), 1 ,0 ) AND

If( HIGH > Ref( HIGH, +1 ), 1 ,0 ) AND

If( HIGH > Ref( HIGH, +2 ), 1 ,0 )

The formula for Down Fractal is:

If( LOW < Ref( LOW , -1 ), 1 ,0 ) AND

If( LOW < Ref( LOW , -2 ), 1 ,0) AND

If( LOW < Ref( LOW , +1 ), 1 ,0 ) AND

If( LOW < Ref( LOW , +2 ), 1 ,0 )

Put the formulas in a new Expert, in the Trends section, with up arrows and down arrows in graphics with appropriate colours.

Hope this will be of help.

Manoj P Abraham

Here's a system that works. Its no Holy Grail but with a little common sense you'd be hard pressed losing money with it. Steve posted it a while back (his "lumber.gif") so I can hardly take credit for the idea, but I think the system is so profitable that I felt I really ought to champion it a bit. I would characterise it as being a fairly aggressive short term system, so it's not everyone's cup of tea.

I have added a stochastic crossover to its exit which gets it out just that little bit earlier sometimes. I find that to get the best signals there is no point in optimising over too long a time frame (yea, I know I'm going to get flamed -- heretic, unbeliever) so I pick a period back where the security doesn't change character too much and re-optimise if something dramatic happens.

Another trick is to initially optimise coarsely over a very wide range and then select intermediate results that appear to be heading for the sort of trades that you'd like to see (not always the most profitable). Often there are many profit peaks and if you initially optimise over too small a range you won't see the best version for that particular security.

I also attach the optimised formula as a MetaStock Expert to securities that I follow. The Buy signal is uncanny and the first few times you really wonder about your sanity.

{Enter Long}

Cross(opt2,ForecastOsc(O,opt1))

{Close Long}

Cross(ForecastOsc(O,opt1),opt3) OR

Cross(Mov(Stoch(opt4,3),opt5,S),Stoch(opt4,3))

Jeff Ledermann   j.ledermann@uq.net.au

For ADX > 25 and rising, you could do something like this in MS Explorer:

Column A: ADX(21)

Filter: ADX(21)>25 AND

ADX(21)>Ref(ADX(21),-1) AND

Ref(ADX(21),-1)>Ref(ADX(21),-2) AND

Ref(ADX(21),-2)>Ref(ADX(21),-3)

For ADX starting to move higher, you could try:

Column A: ADX(21)

Column B: Ref(ADX(21),-1)

Filter: ADX(21)>ADXR(21) AND Ref(ADX(21),-1)<=Ref(ADXR(21),-1

Inside(), outside(), rally(), reaction(), reactionwithvol() and rallywithvol() are all FUNCTIONS and described as such in the manual. These are not indicators, but can be used in writing an indicator. If you want to see rallywithvol() as an indicator, hit your formula button and call your new indicator rallywithvol. Then in the formula window, click on FUNCTIONS, highlight rallywithvol() and paste it in. Voila, you now have an indicator that reflects the rallywithvol() function. If you want to create a short term swing type trading system with these functions getting insights to their use which can be had by reading the description of these functions in the manual, create an expert and type the following:

(RallyWithVol() OR Rally()) AND Ref(Inside() OR Outside(),-1)

This is for the long side. Looking for a fast point or two in the next few trading sessions. Entry is just above the signal bar. Use a tight stop. If entry point was not hit, there is no trade. This is for "Hit and Run" style trading.

from Steve Denk

I can help with explanations of the Reaction() function and other associated functions in the formula language. The functionality exist in the formula language ONLY and are not implemented as standard, built-in indicators. In order to access their capabilities, you must write a custom indicator or other formula-based calculation that calls the appropriate function. These functions are used mainly for a type of pattern similar to the functions used for candlestick patterns. The candlestick pattern functionality can also only be accessed through formula functions and not as standard, built-in indicators. Specifically, the following functions are related to the Reaction() function:

Reaction()

ReactionWithVol()

Rally()

RallyWithVol()

Inside()

Outside()

The user's manual attempts to describe the functionality of these functions, but we recently identified the fact that the user's manual did not correctly define how they work. A correct explanation for these functions follows:

Reaction() : Identifies a "reaction day". A reaction day occurs if the current bar's high is less than or equal to the previous rally or reaction day's high AND the current bar's low is less than the previous rally or reaction day's low.

ReactionWithVol() : Identifies a "reaction with volume day". This occurs if the current bar is identified as a reaction day AND the volume for the current bar is greater than the volume for the previous rally or reaction day.

Rally() : Identifies a "rally day". A rally day occurs if the current bar's high is greater than the previous rally or reaction day's high AND the current bar's low is greater than or equal to the previous rally or reaction day's low.

RallyWithVol() : Identifies a "rally with volume day". This occurs if the current bar is identified as a rally day AND the volume for the current bar is greater than the volume for the previous rally or reaction day.

Inside() : Identifies an "inside day". This occurs if the current bar's high is less than or equal to the high for the previous rally or reaction day AND the current bar's low is greater than or equal to the previous rally or reaction day's low.

Outside() : Identifies an "outside day". This occurs if the current bar's high is greater than the high for the previous rally or reaction day AND the current bar's low is less than the previous rally or reaction day's low.

Ken Hunt

{Place in MetaStock Explorer filter section. Recommended to predict sustained swings, contributed by from Rajat K. Bose.}

(ADX(14) < LLV(PDI(14),25) ) AND (ADX(14) < LLV(MDI(14), 25))

{CCT LinRegOsc:}

(LinearReg(C,13)/Ref(LinearReg(C,13),-13))-1

I want to signal when a Doji occurs following a four-day consecutive increasing CLOSE. I would like this to be an ALERT, signalling if this completed pattern has occurred within the last five days.

from Barry Kales

ANSWER

Doji() AND

Alert((Ref(C,-1) > Ref(C,-2) > Ref(C,-3) > Ref(C,-4)),5)

QUESTION

I want to do a MetaStock Exploration with the Directional Movement Index. I want to scan for the crossing of the two, i.e., yesterday +DX is less than -DX; today +DX is greater than -DX; and visa versa.

from Dan

ANSWER

Although the names in the MetaStock quicklist drop down box are + or - DI, you will need to use PDI or MDI in your formulas. That seems to be causing your problem. PDI=Plus Directional Movement Index and MDI=Minus Directional Movement Index. Instead, use the following:

DIRECT:=PDI(14)>MDI(14);

DIRECT AND Ref(DIRECT,-1)=0;

from Dave Nadeau

QUESTION:

I want to do an exploration with Directional Movement Index. I want to scan for the crossing of the two, i.e., yesterday +DX is less than -DX, today +DX is greater than -DX and visa versa.

from Dan

ANSWER:

+DX(14) > -DX(14)

AND Ref(+DX(14),-1) < Ref(-DX(14),-1)

from Peter Gialames

EXCEL CONFIDENCE % INDICATOR

EXCEL CONFIDENCE % FOR METASTOCK

Simple Interpretation:

Excel Confidence % should oscillate between 0 and 100, usually at the extreme ends of the scale. A value of 0 indicates no confidence in the market going up, whilst 100 indicates perfect confidence in the market going up. Although this obviously isn't the holy grail of indicators, it does offer some insight into what the market is thinking and how one can measure investor sentiment. You might like to add a slower version of this (just increase the 3 day and 5 day calculations to something you believe to be appropriate - try 7 & 15) and trade the crossovers, as with stochastics. You can also just trade the values ie 90 or higher, buy, 10 or lower, sell.

Metastock code for Excel Confidence %:

(Sum(

Mov(C * (2.5/ Sqrt(50 * V)),10,S)-

LLV(Mov(C * (2.5/ Sqrt(50 * V)),10,S),5), 3 ) /

Sum(

HHV(Mov(C * (2.5/ Sqrt(50 * V)),10,S),5) -

LLV(Mov(C * (2.5/ Sqrt(50 * V)),10,S),5), 3) ) * 100

Simple Interpretation:

Front Weighted 36 Day Moving Average is similar to all other moving averages. The interpretation is just as with all others, the trend is up when prices are above the moving average and the trend is down when prices are below the moving averages. This particular variation attempts to weight the data at the front more than that at the back, with a sliding scale for each trading days value.

Metastock code for Front Weighted 36 Day Moving Average:

Fml( "1FrontWeighted36BarMA1" ) +

Fml( "2FrontWeighted36BarMA2" ) +

Fml( "3FrontWeighted36BarMA3" )

Where Fml( "1FrontWeighted36BarMA1" ) =

0.01 * Ref(P,-34) +

0.01 * Ref(P,-33) +

0.01 * Ref(P,-32) +

0.01 * Ref(P,-31) +

0.01 * Ref(P,-30) +

0.01 * Ref(P,-29) +

0.01 * Ref(P,-28) +

0.01 * Ref(P,-27) +

0.01 * Ref(P,-26) +

0.02 * Ref(P,-25) +

0.02 * Ref(P,-24) +

0.02 * Ref(P,-23) +

0.02 * Ref(P,-22) +

0.02 * Ref(P,-21) +

0.02 * Ref(P,-20) +

0.02 * Ref(P,-19) +

0.02 * Ref(P,-18)

Where Fml( "2FrontWeighted36BarMA2" ) =

0.03 * Ref(P,-17) +

0.031 * Ref(P,-16) +

0.031 * Ref(P,-15) +

0.031 * Ref(P,-14) +

0.031 * Ref(P,-13) +

0.031 * Ref(P,-12) +

0.031 * Ref(P,-11) +

0.031 * Ref(P,-10) +

0.031 * Ref(P,-9) +

0.031 * Ref(P,-8) +

0.006 * Ref(P,-7) +

0.006 * Ref(P,-6) +

0.07 * Ref(P,-5) +

0.07 * Ref(P,-4) +

0.07 * Ref(P,-3) +

0.07 * Ref(P,-2)

Where Fml( "3FrontWeighted36BarMA3" ) =

0.07 * Ref(P,-1) +

0.079 * P

SWING CHART

SWING CHART FOR METASTOCK

Among the single-handful of tech analysis indicators I've come to value in seeking out potentially profitable trades is the good old swing chart. This is not present in the standard MetaStock 6.5 armoury (at least my edition of it)but Equis derived the following formula to me some time ago for the daily swing -

If( High > Ref(High,-1) AND Low > Ref(Low,-1), High, If( High <

Ref(High,-1) AND Low < Ref(Low,-1), Low, PREV))

Simple really! It certainly doesn't show up as a nice rectangular pattern, but you get used to reading it just as fluently for just as correct interpretation. This formula is easily adapted for any other time period by using Highest High Value and such-like functions instead of the Ref function. Though with a little more tooling, it is also readily adaptable to price swing charting rather than time swings.

How to filter out dead stocks

Here is how I do it (in the MetaStock Explorer filter):

y1:=2000;

m1:=7;

dt:=25;

test:=If(Year()<>y1,1,If(Month()<>m1,1,If(DayOfMonth()<>dt,1,0)));

Test=1

Since the Explorer does not allow the Input Function, you will need to enter the Year, Month, and Day as the variables y1,m1,and dt, respectively.