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From "Lyn Maine"
Here is the formula from this months TASC called Candle code
this is only using 1 formula not like the one in TASC which is
broken up into several smaller ones.
CandleCode
Bdy:=Abs(O-C);
Lshd:=If(C>=O,O-L,C-L);
Ushd:=If(C>=O,H-C,H-O);
ThBotB:=BBandBot(Bdy,55,E,0.5);
ThTopB:=BBandTop(Bdy,55,E,0.5);
ThBotL:=BBandBot(Lshd,55,E,0.5);
ThTopL:=BBandTop(Lshd,55,E,0.5);
ThBotU:=BBandBot(Ushd,55,E,0.5);
ThTopU:=BBandTop(Ushd,55,E,0.5);
CCode:=If(C=O,1,0)*If(Ushd>=Lshd,64,48)+If(C=O,0,1)*(If(C>O,1,0)*(If(Bdy<=ThBotB,80,0)+If(Bdy>ThBotB
AND Bdy<=ThTopB,96,0)+ If(Bdy>ThTopB,112,0))+
If(C<O,1,0)*(If(Bdy<=ThBotB,32,0)+ If(Bdy>ThBotB AND
Bdy<=ThTopB,16,0)))+(If(Lshd=0,3,0)+ If(Lshd<ThBotL AND
Lshd>0,2,0)+ If(Lshd>ThBotL AND Lshd<=ThTopL AND
Lshd>0,1,0))+(If(Ushd>0 AND Ushd<=ThBotU,4,0)+ If(Ushd>ThbotU
AND Ushd<=ThTopU,8,0)+ If(Ushd>ThTopU,12,0));
CCode;
CSI{Candle strength index}
Periods:=Input("Enter Periods",2,13,2);
Mov(Mov(Mov(Fml("Candlecode"),Periods,S),Periods,S),Periods,S)
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enter long:
(Fml("Candle - Hammer")=1) AND
(CCI(11)<-50)
close long:
((CCI(11)<80) AND
(Ref(CCI(11),-1)>80)) OR
((CCI(11)<-80) AND
Ref(CCI(11)>-80,-1))
enter short:
(Fml("Candle - Hanging Man'")=-1) AND
(CCI(11)>50)
close short:
((CCI(11)>-80) AND
(Ref(CCI(11),-1)<-80)) OR
((CCI(11)<80) AND
Ref(CCI(11)>80,-1))
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This is a custom - made Formula based on Candlesticks called
CANDLE SHADOW SUPPORT - RESISTANCE (by John D.
Kontessis) Based on extensive study of the following books
"Japanese Candlestick Charting Techniques", S.Nison, 1991
"Beyond Candlesticks" S.Nison, 1994 "Tehcical Analysis" X.E.
Kourouklis, METAPUBLICATIONS (in greek language only) As we all
know, one of the most important components of a candlestick is
its shadow. A candle's shadow tends to get longer as prices get
closer to support-resistance levels, as well as when they reach
points of change in Trend (e.g. pullbacks or entry in ranging
periods). As prices reach a Support level (or when building a
support) the candles' lower shadows get longer. Consequently, as
prices reach a Resistance Level (or when building a resistance)
the candles' upper shadows get longer. The obvious problem that
an analyst faces is that such subtle changes are difficult to
discern and evaluate by naked eye only.
This problem can be easily solved by using the following two
Formulas in Metastock's Indicator Builder. After Opening the
"Indicator Builder", choose "New" and name the Formula :
"CandleShadow Resistance ", enter the following :
ShadowResistance:=If(OPEN<CLOSE,(HIGH-CLOSE),(HIGH-OPEN));
Mov(ShadowResistance,3,S); {for not so short-term results, use:
Mov(ShadowResistance,10,w)}
and press "ok".
Now let's build the second Formula: After Opening the
"Indicator Builder", choose "New" and name the Formula :
"CandleShadow Support", enter the following :
ShadowSupport:=If(CLOSE>OPEN,(OPEN-LOW),(CLOSE-LOW));
Mov(ShadowSupport,3,S); {for not so short-term results, use:
Mov(ShadowSupport,10,w)} and press "ok".
So far we have built two Formulas, who, after measuring the
shadows of the candles in our chart, they "draw" a 3-Day
Mov.Average of the size of the shadows (or alternatively a 10day
weighted Mov.Average). The first Formula "CandleShadow
Resistance" measures the upper shadow and the second Formula
"CandleShadow Support" measures the lower shadow. You can always
experiment with the type of Mov.Averages (simple, weighted,
exponential etc) and the periods used so as to achieve the best
"optical" results. Now let's see these Formulas at work. In an
UPTREND : Higher Tops in "CandleShadow Resistance " and
simultaneously lower tops in "CandleShadow Support" , state a
weakness of the uptrend.(bearish signal). Lower Tops in
"CandleShadow Resistance " and simultaneously higher tops in
"CandleShadow Support" , state a strength of the uptrend.
(bullish signal). In a DOWNTREND : Higher Tops in "CandleShadow
Resistance " and simultaneously lower tops in "CandleShadow
Support" , state a strength of the downtrend. (bearish signal).
Lower Tops in "CandleShadow Resistance " and simultaneously
higher tops in "CandleShadow Support" , state a weakness of the
downtrend. (bullish signal). At your disposal for any questions
or comments. John D.
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{This system uses the momentum Commodity Channel Index (CCI)
indicator to
find short-term bottoms in the market. The CCI indicator is
extremely
volatile and is generally difficult to use when trading the S&P
500 Index.
We, however, have turned this volatility into a trading
advantage by using
the spread or gap between the CCI index and its moving average
as a reversal
signal. Specifically if the gap is larger then a certain
percentage and CCI
indicator crosses above its moving average we buy the market.
The system
remains in the market for a short period of time, exiting the
trade as the
indicators cross to the downside. As designed, this system only
trades long
the market; it can however be altered to short the market. It is
best used
in choppy bullish markets similar to the 1995 bull market.}
{Trading Tactics: This short-term bullish trading system
exploits over
extended markets. Futures, options, and mutual fund traders
should take full
advantage of this high probability trading system, either by
taking outright
positions or avoiding declining markets. The code for this
system can be
reversed to trade short positions. This system should be used in
place of
longer-term momentum systems in strong bullish choppy type
markets. This
system rarely exits at the market intermediate peak, so other
exiting
signals may be used in place of our indicator crossover
technique.}
{Enter long:}
Ref(CCI(13)/(Mov(CCI(13),3,S)),-1)>1.5 AND
Cross(CCI(13),(Mov(CCI(13),3,S))) AND
Ref(CCI(13),-1)<-25
{Exit long:}
Cross((Mov(CCI(13),3,S)),CCI(13)) AND
Ref(CCI(13),-1)>200
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rev. 01/06/97
In their book "The New Technical Trader," Chande & Kroll
introduce the r2
indicator. They state that
"the primary use of r2 is as a confirming indicator" and that
"it is a
lagging indicator that shows
the strength of the trend."
In MetaStock the r2 formula is:
Pwr(Corr(Cum( 1 ),C,14,0),2)
They also present a smoothed r2 which would be:
Mov(Pwr(Corr(Cum( 1 ),C,14,0),2)*100,14,S)
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rev. 01/06/97
In their book "The New Technical Trader," Chande & Kroll
introduce the r2
indicator. They state that
"the primary use of r2 is as a confirming indicator" and that
"it is a
lagging indicator that shows
the strength of the trend."
In MetaStock the r2 formula is:
Pwr(Corr(Cum( 1 ),C,14,0),2)
They also present a smoothed r2 which would be:
Mov(Pwr(Corr(Cum( 1 ),C,14,0),2)*100,14,S)
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Here is the Fast Chandelier Exit in full as supplied to me.
It is part of an exit strategy which you can adjust to your own
trading style and comfort levels. from Ian Burgoyne
HHVDays:=Input("Days Since Trade Opened",1,300,1);
ATRDays:=Input("ATR Days",1,30,10);
ATRHighMult:=Input("ATR Multiplier From High",1,5,3.0);
ATRCloseMult:=Input("ATR Multiplier From Close",1,5,2.5);
HHVStop:= HHV(H,HHVDays) - ATRHighMult*ATR(ATRDays);
HighStop:= H - ATRHighMult*ATR(ATRDays);
CloseStop:= C - ATRCloseMult*ATR(ATRDays);
TodaysCalc:= If(HighStop > CloseStop, HighStop, CloseStop);
TodaysStop:= If(L <= PREV, TodaysCalc, If(HHVStop < PREV, PREV,
If(HHVStop >
C,PREV,HHVStop)));
HHVDays:=Input("Days Since Trade Opened",1,300,1);
ATRDays:=Input("ATR Days",1,30,10);
ATRHighMult:=Input("ATR Multiplier From High",1,5,3.0);
ATRCloseMult:=Input("ATR Multiplier From Close",1,5,2.5);
HHVStop:= HHV(H,HHVDays) - ATRHighMult*ATR(ATRDays);
HighStop:= H - ATRHighMult*ATR(ATRDays);
CloseStop:= C - ATRCloseMult*ATR(ATRDays);
TodaysCalc:= If(HighStop > CloseStop, HighStop, CloseStop);
TodaysStop:= If(L <= PREV, TodaysCalc, If(HHVStop < PREV, PREV,
If(HHVStop >C,PREV,HHVStop)));
TodaysStop
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Below is the MetaStock code I posted for the Chandelier exit
back in October, 1999. The trick is to define the entry
date/price as the point at which your system triggered the
entry, not by using the date functions. A side benefit is that
you can also use it to implement a fixed dollar, or money
management, stop.
The more time I spend with the Chandelier exit, the more I
admire its strength as an exit and its simplicity. Because exits
tend to be the weakest part of a system, I would urge everyone
to spend some time with it.
And Chuck LeBeau gets credit for the MetaStock code, not me. I
just took his framework and applied it to his exit.
{LONG EXIT}
LongEntry:= {this your entry system, eg. Cross(CLOSE,
Mov(C,20,E))};
MoneyMgmtStop:= {this is your maximum loss, in points};
{DEFINE ENTRY PRICE, WITH EXIT BEING -- ENTRY PRICE AND NO TRADE
BEING 0}
EntryPrice:= If(PREV <= 0,
{Trade entered today?}
If(LongEntry, CLOSE, 0),
{Trade entered before today. Stopped today?}
If(LOW <= PREV - MoneyMgmtStop, -PREV,
If(LOW <= HighestSince(1,PREV=0, HIGH) - 3 * ATR(10), -PREV,
If(LOW <= HighestSince(1,PREV=0, CLOSE) - 2.5 * ATR(10), -PREV,
PREV))));
{EXIT IF ENTRY PRICE < 0 (MEANING EXIT)}
EntryPrice < 0
{SHORT EXIT}
ShortEntry:= {this your entry system, eg. Cross(Mov(C,20,E),
CLOSE)};
MoneyMgmtStop:= {this is your maximum loss, in points};
{DEFINE ENTRY PRICE, WITH EXIT BEING -ENTRY PRICE AND NO TRADE
BEING 0}
EntryPrice:= If(PREV <= 0,
{Trade entered today?}
If(ShortEntry, CLOSE, 0),
{Trade entered before today. Stopped today?}
If(HIGH >= PREV + MoneyMgmtStop, -PREV,
If(HIGH >= LowestSince(1,PREV=0, LOW) + 3 * ATR(10), -PREV,
If(HIGH >= LowestSince(1,PREV=0, CLOSE) + 2.5 * ATR(10), -PREV,
PREV))));
{EXIT IF ENTRY PRICE < 0 (MEANING EXIT)}
EntryPrice < 0
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This is the calculation for the first formula (Todays
Change):
Todays close - yesterdays close
This is the main formula, incorporating the first calculation:
If todays change (1st formula) is greater than a 7 day
exponential moving average of todays change and todays close is
greater than yesterdays close, write down todays close + todays
volume, otherwise,
If todays change is less than a 7 day exponential moving average
of todays change and todays close is less than yesterdays close,
write down the negative value of todays close + todays volume,
otherwise write down 0.
Then add up all the days values and keep a cumulative running
total for each new trading day.
Simple Interpretation:
Changing Ways Accumulation/Distribution can show divergences
against the instrument.
When compared against volume activity, it can show what impact a
day of high turnover had on the share price for the coming
periods. This is to say that if a day had high volume and there
was little movement in the indicator alongside this, then you
can suggest that all the volume for that day was absorbed into
the price and there is less likelihood of buying/selling
pressure in that day taking hold in the market in future trading
days.
Metastock code for Changing Ways Accumulation/Distribution:
Cum(If(Fml( "Todays Change" ) > Mov(Fml( "Todays Change" ),7,E)
AND C > Ref(C,-1),
C + V,
If(Fml( "Todays Change" ) < Mov(Fml( "Todays Change" ),7,E) AND
C < Ref(C,-1),
Neg(C + V) ,0)))
Where Fml( "Todays Change" ) = c - ref(c,-1)
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As people have mentioned before, it is difficult to design
exits in MetaStock because of the awkwardness of defining your
trade entry price. One exit system that requires your trade
entry price is the channel exit.
For those not familiar with it, the channel exit is quite a
straight forward trailing stop. Once you're in a trade (let's
say, long), you maintain your stops at the lowest low of the
past number of days (optimized, in the code below) until you are
taken out of the market. This method attempts to let profits run
in the direction of the trend, but takes you out when price
makes a significant reversal and you risk giving back profits on
a retracement or the end of the trend.
Below is the code for a channel exit. It also includes a money
management stop to limit losses to an acceptable level until the
channel exit exceeds it. Work on variations of this basic theme,
such as moving the stop up faster where the market makes rapid
gains and your lowest low in, say, 10 or 20 days is just too far
away to adequately protect profits.
Glen Wallace
{LONG EXIT}
LongEntry:= {this your entry system, eg. Cross(CLOSE,
Mov(C,20,E))};
MoneyMgmtStop:= {this is your maximum loss, in points};
{DEFINE ENTRY PRICE, WITH EXIT BEING -ENTRY PRICE AND NO TRADE
BEING 0}
EntryPrice:= If(PREV <= 0,
{Trade entered today?}
If(LongEntry, CLOSE, 0),
{Trade entered before today. Stopped today?}
If(LOW <= Max(PREV - MoneyMgmtStop, Ref(LLV(LOW,opt1),-1)),
-PREV,
PREV));
{EXIT IF ENTRY PRICE < 0 (MEANING EXIT)}
EntryPrice < 0
{SHORT EXIT}
ShortEntry:= {this your entry system, eg. Cross(Mov(C,20,E),
CLOSE)};
MoneyMgmtStop:= {this is your maximum loss, in points};
{DEFINE ENTRY PRICE, WITH EXIT BEING -ENTRY PRICE AND NO TRADE
BEING 0}
EntryPrice:= If(PREV <= 0,
{Trade entered today?}
If(ShortEntry, CLOSE, 0),
{Trade entered before today.Stopped today?}
If(HIGH >= Min(PREV + MoneyMgmtStop, Ref(HHV(HIGH,opt1),-1)),
-PREV,
PREV));
{EXIT IF ENTRY PRICE < 0 (MEANING EXIT)}
EntryPrice < 0
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A fast method to clean out unwanted stocks from Metastock and
also save them for future viewing.
On your hard drive, create a series of folders and sub folders
like your present Metastock data system. In my case
OLD_META_DATA/ALL01/A01,B01,C01 etc to Z01. (Be sure no more
than 450 stocks go in each folder when you do copy/deletions)
Open METASTOCK/Tools/DOWNLOADER and once in DOWNLOADER open
Tools/Copy .
Browse to the folder you wish to make deletions from.
In the "Copy Securities" window make sure you can read the Last
Date column with the Name column showing. If not,do not use the
scroll bar but place the cursor in the Name box at its RH end
almost in the Symbol box and when your cursor turns into a cross
hold down the LH button on the mouse and drag it left thereby
narrowing the Name column till the Last Date column is visible.(
This is also a good tip when printing out Metastock reports that
do not fit on the width of an A4 page, just reduce the width of
a column or eliminate it completely if it is not wanted on the
print out.)
Hold down the Control key and highlight each Name you wish to
delete. I go on the Last Date column to find useless stocks. If
you use the scroll bar to go down the list be sure not to let go
of the control key as you will lose all your previous
selections.
When finished highlighting let go of control key and press copy.
Browse to the new folder you created, tick the "Delete Source
Security" box and press OK. Old securities gone out of current
data base and saved for future reference. You can do hundreds in
a matter of minutes. If you want to ever see the old securities
just alter the lead folders names in explorer.
From Basil Holloway
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This exploration is designed to find those stocks where the
close is above the median price over the past five days. It
matches the steps in Dels bvook The Strategic Electronic Day
Trader.
col a = CLOSE - MP()
col b = (Ref(CLOSE,-1))-(Ref( MP() ,-1))
Col c = (Ref(CLOSE,-2))-(Ref( MP() ,-2))
col d = (Ref(CLOSE,-3))-(Ref( MP() ,-3))
col e = (Ref(CLOSE,-4))-(Ref( MP() ,-4))
filter = colA>=0 AND colB>=0 AND colC>=0 AND colD>=0 AND colE>=0
The filter in the exploration only shows those stiocks that
have the strongest bullish bias over all 5 days. By removing the
filter all stocks will be shown. Ranking the first colum will
then allow you to estaboish the overall score for each stock.
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"1) Sell the opening (long or short) X-number of days(?)
after the indicator above moves from below 100 to
above 100. (Is this on a close-to-close basis?)"
Specifically, sell the opening the day after the BB Histo closes
above 100.
"2) Buy or cover when the indicator goes from above 100 to below
100 or from above 0 to below 0 X-number
of days after that occurs."
Buy, when the BB Histo dips below zero (the following morning).
"a) how many days after the signal does one act;"
The following morning.
" b) Is this close-to-close or intra-day?"
close to close
"c) Is this to initiate or to go short or add to a position?"
Add to positions if the indicator "repenetrates" these levels
... otherwise, reverse when it triggers
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If yesterdays high is greater than the high of 2 days ago//
and the low 5 days ago is less than or equal to the high 4 days
ago// and it is Wednesday
Try this:
Ref(H,-1)>Ref(H,-2) AND
Ref(L,-5)<=Ref(H,-4) AND
Dayofweek() = 3
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They are contributed by Patrick who notes "my limited Spanish
suggests that they are simply a random collection made by the
web owner, who points out that there is as yet 'no Holy Grail'
in technical analysis! For the past few days I have been using
them by substituting the for 'number' given to each formula, the
complete formula that particular number represents. In this way,
each becomes independent." We have included all 80 of them,
complete with the orginal Spanish cover note.
A continuaciуn se ofrecen una serie de fуrmulas que puede
utilizar con el programa Metastock recogidas de la red y cuya
utilidad Vd. debe valorar. Se ruega encarecidamente a todos
aquellos que tengan fуrmulas que puedan resultar ъtiles las
envнen a jomaba@interbook.net para su publicaciуn en esta
pбgina. Muchos dicen que el Santo Grial no existe.їY si es
mentira?
1 DAILY CLOSE VS HIGH AND LOW WAVE if((C-L)/(H-L),>,.66 ,1,
if((C-L)/(H-L),<,.38,-1,0))
2 PRICE OSCILLATOR WAVE if(ref(oscp(3,15,S,%),-1),<,0,1,0)
3 VOLUME OSCILLATOR WAVE if(oscv(1,50,S,%),>,50,1,0)
4 WEEKLY PRICE OSCILLATOR WAVE if(fml(#17),>,ref(fml(#17),-1),1,
if(fml(#17),<,ref(fml(#17),-1),-1,0))
5 VOLATILITY WAVE if(ref(fml(#27),-1),<,90,1,0)
6 LONG BINARY WAVE fml(#1) + fml(#2) + fml(#3) + fml(#9)
7 STOCHASTIC WAVE - LONG
if(ref(stoch(14,3),-1),=,llv(stoch(14,3),3),2,
if(stoch(14,3),=,llv(stoch(14,3),3),1,0))
8 STOCHASTIC WAVE - SHORT
if(ref(stoch(14,3),-1),=,hhv(stoch(14,3),3),2,
if(stoch(14,3),=,hhv(stoch(14,3),3),1,0))
9 VOLATILITY DIFFERENCE WAVE if(fml(#11),>=,1.00,1,0)
10 LONG BINARY II fml(#1) + fml(#3) + fml(#9) + fml(#24)
11 VOLATILITY DIFFERENCE mov(H-L,1,S)/mov(H-L,20,S)
12 HI LOW WAVE - DAILY
if(H,>,ref(hhv(H,100),-1),1,if(L,<,ref(llv(L,100),-1),-1,0))
13 WEEKLY HIGH LOW WAVE if(H,>,ref(hhv(H,40),-1),1,
if(L,<,ref(llv(L,40),-1), -1,0))
14 PERCENT ABOVE\BELOW MOVING AVG (oscp(1,30,E,%))
15 WEEKLY PRICE OSCILLATOR mov(oscp(10,20,S,%),10,S)
16 MACD WAVE MACD/trigger Binary Wave if(macd(), >,
mov(macd(),9,E), {bullish} +1, {bearish} -1)
17 WEEKLY OSC SEGMENT mov(oscp(43,86,S,%),43,S)
18 HISTORICAL VOLATILITY (std(log(C / ref(C,-1)),10)*sqr(365))
/(std(log(C / ref(C,-1)),50)*sqr(365))
19 RELATIVE STRENGTH C/P
20 CLOSE REL TO HIGH LOW (C-L)/(H-L)
21 GAP IDENTIFICATION if(L,>,ref(H,-1),1,
if(H,<,ref(L,-1),-1,0))
22 AVG VOLUME mov(V,50,S)
23 MOVE WAVE 20-unit m.a. Binary Wave if(C, >, mov(C,20,E),
{then bullish} +1, {else bearish} -1)
24 STOCHASTIC VALUE WAVE if(ref(stoch(14,3),-1),<,65,1,
if(stoch(14,3),<,65,1,0))
25 ROC WAVE 12-ROC price Binary Wave if(roc(C,12,%), >, 0, {then
bullish} +1, {else bearish} -1)
26 STOCH WAVE 5- Stochastic Binary Wave if(stoch(5,3), >, 50,
{then bullish} +1, {else bearish} -1)
27 ATR RATIO atr(10)/atr(50)/100
28 BINARY WAVE Composite Wave of above fml("MACD Wave") +
fml("MOVE Wave") + fml("ROC Wave")+ fml("STOCH Wave")
29 WEEKLY OPEN CLOSE WAVE if(C,>,O,1,if(C,<,O,-1,0))
30 SHORT BINARY WAVE fml(#31) + fml(#32) + fml(#33)
31 SHORT OPEN CLOSE WAVE if((C-L)/(H-L),<,.38,1,0)
32 SHORT PRICE OSCILLATOR WAVE
if(ref(oscp(3,15,S,%),-1),>,0,1,0)
33 SHORT VOLUME WAVE if(oscv(1,50,S,%),>,0,
if(V,>,ref(V,-1),1,0),0)
34 O.B.V. Good example of if() func cum( if( C, >, ref(C,-1),
+V, if( C, <, ref(C,-1), -V, 0) ))
35 SINE WAVE 5-unit standing sine wave sin( cum(5) )
36 STOCHASTIC Example of hhv() function ( sum( C - llv(L,5), 3 )
/ sum( hhv(H,5) - llv(L,5), 3) ) * 100
37 Median price
(hhv(H,10)-C)-(C-llv(L,10))/(hhv(H,10)-llv(L,10))
38 Future MACD---Dr. Trieber (C-((
11.607*(mov(C,26,E)))-(10.607*(mov(C,12,E)))
-(12.536*(mov(macd(),9,E)))))
39 Fraction (32nd's) int(C)+((frac(C)/0.03125)/100)
40 Summation Noise Indicator (Adam White)
(sum(abs(C-ref(C,-1)),14)-sum(abs(mov(C,10,S)-ref(mov(C,10,S),-1)),14))/
sum(abs(C-ref(C,-1)),14)
41 Chaikin Money Flow
sum(((((C-L)-(H-C))/(H-L))*V),21)/sum(V,21)
42 Linear Regression
((15*(sum(cum(1)*C,10))-(sum(cum(1),10)*(sum(C,10))))
/((10*sum(pwr(cum(1),2 ),10))-pwr(sum(cum(1),2),10))
-pwr(sum(cum(1),10),2))
43 Smoothed Tick Momemtum Line-TASC
mov(roc(cum(if(C,>,ref(mov(C,10,E),-1),+1,
if(C,<,ref(mov(C,10,E),-1),-1,0))),5,$),5,E)
44 Bull Power (for Elderray) H-mov(C,13,E)
45 Bear Power (for Elderray) L-mov(C,13,E)
46 13-Period Moving Average (for Elderray) mov(C,13,E)
47 RSI Binary Wave (using 30/70 xover)
if(rsi(10),>,30,if(ref(rsi(10),-1),<,30,+1,if(rsi(10),<,70,if(ref(rsi(10),-
1),>,70,-1,0),0)),0)
48 Trendscore...Tushar Chande (TASC)
if(C,>=,ref(C,-11),1,-1)+if(C,>=,ref(C,-12),1,-1)+if(C,>=,ref(C,-13),1,-1)+
if(C,>=,ref(C,-14),1,-1)+if(C,>=,ref(C,-15),1,-1)+if(C,>=,ref(C,-16),1,-1)+
if(C,>=,ref(C,-17),1,-1)+if(C,>=,ref(C,-18),1,-1)+if(C,>=,ref(C,-19),1,-1)+
if(C,>=,ref(C,-20),1,-1)
49 KST-Martin Pring (One formula)
(mov(roc(C,10,%),10,S))+(2*(mov(roc(C,15,%),10,S)))+
(3*(mov(roc(C,20,%),10,S)))+(4*(mov(roc(C,30,%),15,S)))/10
50 Dual Oscillator B-Wave +1 buy, -1 sell if(fml("dual osc
1"),>,fml("dual osc 2"),if(ref(fml("dual osc 1"),-1),<,
ref(fml("dual osc 2"),-1),+1,if((fml("dual osc 1")),<,fml("dual
osc 2"),
if(ref(fml("dual osc 1"),-1),>,ref(fml("dual osc
2"),-1),-1,0),0)),0)
51 Dual Osc 1 mov(C,2,S)-mov(C,10,S)
52 Dual Osc 2 mov((H+L+C)/3,5,S)-mov((H+L+C)/3,20,S)
53 R Squared pwr(corr(cum(1),C,5,0),2)
54 Slope of Linear Regression Line
((5*(sum(cum(1)*C,5)))-(sum(cum(1),5)*(sum(C,5))))/
((5*sum(pwr(cum(1),2),5))-pwr(sum(cum(1),5),2))
55 RWI for today's high (H-ref(L,-16))/(mov((H-L),16,S)*sqr(16))
56 RWI for today's low (ref(H,-16)-L)/(mov((H-L),16,S)*sqr(16))
57 Momemtum roc(mov(C,10,E),10,%)
58 Volume Binary Wave
if(V,>,ref(mov(V,20,E),1),1,if(V,<,ref(mov(V,10,E),1),-1,0))
59 MACD w/SAR if(macd(),>,mov(macd(),9,E),{macd is above
trigger}if(sar(.02,.2),
<,C,{buy long}+2,{stop shorts}+1),{macd <
trigger}if(sar(.02,.2),>,
C,{sell short}-2, {stop longs}-1))
60 Oscillating OBV mov(obv(),20,E)-obv()
61 Overreaction Index
if(ref(std(C,3),-3),>,4,+1,0)+if(C,<,(sar(.015,.15)),-1,+1)
62 Modified MACD tsf(C,12)-tsf(C,26)
63 RVI w/simple moving average (TASC)
100*mov(if(C,>,ref(C,-1),std(C,10),0),14,S)/(mov(if(C,>,ref(C,-1),
std(C,10),0),14,S)+mov(if(C,<,ref(C,-1),std(C,10),0),14,S))
64 Upper Bollinger Band mov(C,20,S)+(2*(std(C,20)))
65 Lower Bollinger Band mov(C,20,S)-(2*(std(C,20)))
66 Middle Band mov(C,20,S)
67 %B (TASC)
(C-(mov(C,20,S)-(2*(std(C,20)))))/(mov(C,20,S)+(2*(std(C,20)))-
mov(C,20,S)-(2*(std(C,20))))
68 Band Width (TASC)
(mov(C,20,S)+(2*(std(C,20))))-(mov(C,20,S)-(2*(std(C,20))))/mov(C,20,S)
69 Volume % above/below 10 day MA (V-mov(V,10,S))/mov(V,10,S)
70 # of STD's of volume (V-mov(V,20,S))/std(V,20)
71 Morris' RSI w/volume (TASC)
100-(100/(1+(mov(if(roc(C,1,$),>,0,roc(C,1,$)*V,0),14,S)/
mov(if(roc(C,1,$), <,0,-roc(C,1,$)*V,0),14,S))))
72 Custom A/D Oscillator
cum(if(C,>,ref(C,-2),1,if(C,<,ref(C,-2),-1,0)))
73 Empty Candlestick if(C,>,o{then empty},+1,0)
74 Filled Candlestick if(C,<,o{then filled},+1,0)
75 Doji if(C,=,o{then doji},+1,0)
76 Bearish engulfing lines
if(fml(#28),=,+1,if(ref(fml(#27),-1),=,+1,if(C,<=,ref(O,-1),if(O,>=,
ref(C,-1),-1,0),0),0),0)
77 Bullish engulfing lines
if(fml(#27),=,+1,if(ref(fml(#28),-1),=,+1,if(C,>=,ref(O,-1),if(O,<=,
ref(C,-1),+1,0),0),0),0)
78 Engulfing Line Binary wave fml(#30)+fml(#31)
79 Largest negative change in close llv(roc(C,1,$),40)
80 Choppiness Index (TASC)
((log(sum(atr(1),14)/(hhv(if(H,>=,ref(C,-1),H,ref(C,-1)),14)-llv(if(L,<=,
ref(C,-1),L,ref(C,-1)),14)))/log(10))/(log(14)/log(10)))*100
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BAR - 3 Higher Highs
H>Ref(H,-1) AND Ref(H,-1)>Ref(H,-2) AND Ref(H,-2)>Ref(H,-3)
BAR - 3 Lower Lows & Reversal H
L>Ref(L,-1) AND Ref(L,-1)<Ref(L,-2) AND Ref(L,-2)<Ref(L,-3) AND
Ref(L,-3)<Ref(L,-4)
BAR - 3 Lower Lows
L<Ref(L,-1) AND Ref(L,-1)<Ref(L,-2) AND Ref(L,-2)<Ref(L,-3)
BAR - 5 Lower Lows
L<Ref(L,-1) AND Ref(L,-1)<Ref(L,-2) AND Ref(L,-2)<Ref(L,-3) AND
Ref(L,-3)<Ref(L,-4) AND Ref(L,-4)<Ref(L,-5)
BAR - Expansion Buy
If(C > Ref(HHV(C,42),-1) AND H-L >= Ref(HHV((H-L),9),-1),1,0)
BAR - Expansion Sell
If(C < Ref(LLV(C,42),-1) AND (H-L) >= Ref(HHV((H-L),9),-1),1,0)
BAR - Fractal-down
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)
BAR - Fractal-up
(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))
BAR - Gap Down
GapDown()
BAR - Gap Up
GapUp()
BAR - H > Yesterday's H
H>Ref(H,-1)
BAR - Highest Bars Ago
HighestBars(CLOSE)
BAR - Highest High Value Bars Ago
HHVBars(CLOSE,50)
BAR - Inside Day + Day 3
Ref(Fml("BAR - Inside Day"),-3)
BAR - Inside Day
HIGH < Ref(HIGH,-1) AND LOW > Ref(LOW,-1)
BAR - Lizard Buy
If(O >= L + ((H-L) * .75) AND C >= L + ((H-L) * .75) AND L <
Ref(LLV(L,9),-1),1,0)
BAR - Lizard Sell
If(O <= L + ((H-L) * .25) AND C <= L + ((H-L) * .25) AND H >
Ref(HHV(H,9),-1),1,0)
BAR - Narrow Range 4
HIGH - LOW < Ref(LLV(H-L,3),-1)
BAR - Narrow Range 7
HIGH - LOW < Ref(LLV(H-L,6),-1)
BAR - O > Yesterday's C
O>Ref(C,-1)
BAR - Outside Day & > C
Outside() AND C>Ref(C,-1)
BAR - Outside Day
HIGH > Ref(HIGH,-1) AND LOW < Ref(LOW,-1)
BAR - Pivot Buy
If(H-L > Ref(HHV((H-L),9),-1) AND ((L <= Mov(C,50,S)) OR
Ref(L,-1) <=
Ref(Mov(C,50,S),-1))
AND C > Mov(C,50,S),1,0)
BAR - Pivot Sell
If(H-L > Ref(HHV((H-L),9),-1) AND ((H >= Mov(C,50,S)) OR
Ref(H,-1) >=
Ref(Mov(C,50,S),-1))
AND C < Mov(C,50,S),1,0)
BAR - Reaction Day with Volume
ReactionWithVol()
BAR - Reaction Day
Reaction()
BAR - Surprise Day Down
O<Ref(C,-1) AND C>O AND C<Ref(C,-1)
BAR - Surprise Day Up
O>Ref(C,-1) AND C<O AND C>Ref(C,-1)
BAR - Trough Value - 5
Trough(1,CLOSE,5)
BAR - Typical Price
Typical()
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((HHV(C,80)-LLV(C,80))/LLV(C,80))*100
Consolidation breakout (upside)
If(Ref(Fml("congestion index"),-5),<,10, {and}
If(Fml("congestion index"),>=,10, {and}
If(CLOSE,>,Ref(HHV(C,80),-5), {and}
If(Mov(V,5,S),>=,1.5*(Ref(Mov(V,60,S),-5)), +1,0),0),0),0)
Consolidation breakout (downside)
If(Ref(Fml("congestion index"),-5),<,10{%},{and}
If(Fml("congestion index"),>=,10{%},
{and} If(CLOSE,<,Ref(LLV(C,80),-5),{and}
If(Mov(V,5,S),>=,1.5*(Ref(Mov(V,60,S),-5)),+1,0),0),0),0)
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Here is the Connors and Raschke's historical volatility
system exploration in August 1996 TASC Trader's Tips translated
for MetaStock.
COLUMN FORMULAS
Column A : Vol ratio
std(log(C/ref(C,-1)),5)/std(log(C/ref(C,-1)),99)
Column B : NR4 day
if(HIGH-LOW,<,ref(llv(H-L,3),-1),1,0)
Column C : Inside
if(HIGH,<,ref(HIGH,-1),if(LOW,>,ref(LOW,-1),1,0),0)
Column D : High
HIGH
Column E : Low
LOW
FILTER FORMULA
Formula:
when(colA,<,0.5) AND (when(colB,=,1) OR when(colC,=,1))
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If(Ref(Fml("congestion index"),-5),<,10,
{and} If(Fml("congestion index"),>=,10,
{and} If(CLOSE,>,Ref(HHV(C,80),-5),
{and} If(Mov(V,5,S),>=,1.5*(Ref(Mov(V,60,S),-5)),
+1,0),0),0),0)
Stocks breaking out of consolidation (downside)
Col A: CLOSE
Filter: Fml("Consolidation breakout (downside)") = 1
Filter enabled: Yes
Here is the "consolidation breakout(downside)" formula:
If(Ref(Fml("congestion index"),-5),<,10{%},
{and} If(Fml("congestion index"),>=,10{%},
{and} If(CLOSE,<,Ref(LLV(C,80),-5),
{and} If(Mov(V,5,S),>=,1.5*(Ref(Mov(V,60,S),-5)),
+1,0),0),0),0)
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Col A: CLOSE
Filter: Fml("Consolidation breakout (upside)") = 1
Filter enabled: Yes
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Col A: CLOSE
Filter Fml("congestion index") <= 10 AND
BarsSince(Fml("congestion index")>10) > 0
Filter enabled Yes
Here is the "congestion index" formula:
((HHV(C,80)-LLV(C,80))/LLV(C,80))*100
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(Note. This is very good, but the limitation
is the lookback period. The
calculation point for the CBL line might be 5, 10, 15, 30
days away from
todays date.Also watch for the way 'gap' days are treated.
Daryl Guppy)
Copied from StockCentral - Thanks Ken D
Well .... last weekend I replied to a post requesting a
MetaStock solution for calculating the Countback Line discussed
in Daryl Guppy's book "Share Trading: An Approach to Buying and
Selling". Subequently, about 30 requests for the formulas I use
were received. Not unexpectedly, a few defects were found with
the original offerings. This helped forge a somewhat more robust
solution, which is here given to the wider audience of this
Forum, so that further improvements may be forthcoming.
Alternatives of presentation style are many, according to taste,
but we are here requesting improvements in substance,
identification of possible flaws, or have real simplification
benefits - please provide solutions where possible.
ACKNOWLEDGEMENTS .... With thanks to the several people who have
commented, all constructively it is pleasing to say, particular
credit is warranted by the significant contributions from Bryan
Stanton and Siobhan Channon.
LIMITATIONS .... With MetaStock, there seems to be a need for
two different formulas to handle the issue: - one for the CBL
from a LOW (CBLlo), - the other for the CBL from a HIGH (CBLhi).
The formulas given below were generated using v.6.52. Because of
the use of PREV they won't work in some earlier MetaStock
versions it seems, though a bit of thought should overcome this
limitation - anyone able to comment? As written they are based
upon relative prices over a DEFAULT cover of 13 days (but
adjustable from 3 to 55 days) - this is one of the potential
weaknesses which commands individual interpretation for a
particular equity or contract, which may cycle more or less
frequently and require different timeframes. Other indicators
and assessments are, of course, needed to gauge the probability
of a CBL-indicated counter-trend holding. Also, for particularly
choppy or indecisive circumstances there may be a need to extend
the Ref(H or L, -5) to a greater number of comparison days by
appropriate copying and adjustments to the basically simple
pattern in these formulas - but if it came to this perhaps the
trade should be left alone anyway! Owing to price vagaries it is
not unusual for a CBLhi to be less than a CBLlo calculation, or
the converse, especially with low-gradient trends or sideways
price movements.
NOTE: With each formula below, copy exactly from "HighDays" or
"LowDays" down to "PREV )))))" into the Indicator Builder.
CBLhi:
HighDays := Input("Enter # days to cover last HIGH for CBL
calc'n:", 3, 55, 13);
If(HIGH < HHV(HIGH, HighDays), {then ...} PREV, {previous CBLhi,
else...} If(Ref(L,-2) < Ref(L,-1) AND Ref(L,-2) < L AND
Ref(L,-1) < L, {then ...} Ref(L,-2), {2nd day back low, else...}
If((Ref(L,-3)< Ref(L,-2) AND Ref(L,-3) < Ref(L,-1) AND Ref(L,-3)
< L) AND (Ref(L,-2)< L OR Ref(L,-1) < L), {then ... } Ref(L,-3),
{3rd day back low, else...} If((Ref(L,-4)< Ref(L,-3) AND
Ref(L,-4) < Ref(L,-2) AND Ref(L,-4) < Ref(L,-1) AND Ref(L,-4) <
L) AND (Ref(L,-3)< L OR Ref(L,-2) < L OR Ref(L,-1) < L),
{then... } Ref(L,-4), {4th day back low, else...} If((Ref(L,-5)<
Ref(L,-4) AND Ref(L,-5) < Ref(L,-3) AND Ref(L,-5) < Ref(L,-2)
AND Ref(L,-5) < Ref(L,-1) AND Ref(L,-5) < L) AND (Ref(L,-4)< L
OR Ref(L,-3) < L OR Ref(L,-2) < L OR Ref(L,-1) < L), {then ...}
Ref(L,-5), {5th day back low, else...} PREV )))))
and for the CBL from a LOW
CBLlo:
LowDays := Input("Enter # days to cover last LOW for CBL
calc'n:", 3, 55, 13);
If(LOW > LLV(LOW, LowDays), {then ...} PREV, {previous CBLlo,
else...} If(Ref(H,-2) > Ref(H,-1) AND Ref(H,-2) > H AND
Ref(H,-1) > H, {then ...} Ref(H,-2), {2nd day back high,else...}
If((Ref(H,-3)> Ref(H,-2) AND Ref(H,-3) > Ref(H,-1) AND Ref(H,-3)
> H) AND (Ref(H,-2)> H OR Ref(H,-1) > H), {then ... } Ref(H,-3),
{3rd day back high,else...} If((Ref(H,-4)> Ref(H,-3) AND
Ref(H,-4) > Ref(H,-2) AND Ref(H,-4) > Ref(H,-1) AND Ref(H,-4) >
H) AND (Ref(H,-3)> H OR Ref(H,-2) > H OR Ref(H,-1) > H),
{then... } Ref(H,-4), {4th day back high,else...} If((Ref(H,-5)>
Ref(H,-4) AND Ref(H,-5) > Ref(H,-3) AND Ref(H,-5) > Ref(H,-2)
AND Ref(H,-5) > Ref(H,-1) AND Ref(H,-5) > H) AND (Ref(H,-4)> H
OR Ref(H,-3) > H OR Ref(H,-2) > H OR Ref(H,-1) > H), {then ...}
Ref(H,-5), {5th day back high,else...} PREV )))))
Please advise of any problems or suggested improvements in
calculating the CBL. It is again emphasized that this is by no
means proposed as the best solution, but as ONE solution which
seems to work. Regards.
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Instructions
1. First create a new expert and name it whatever you want.
2a. under "trends" tab put this code for bullish:
ut:=FmlVar("GANN-Trend","TDV");
uplot:=If(BarsSince(Ut=1)<
BarsSince(Ut=-1),1,0);
uplot=1;
2b. and this for bearish:
dt:=FmlVar("GANN-Trend","TDV");
dplot:=If(BarsSince(dt=1)>
BarsSince(dt=-1),1,0);
dplot=1;
Then click on the "ribbon" option and turn off "Display Vertical
Lines", I also turn off the corner option.
3a. Under highlights tab create a new and call it "HiLo Change",
choose color, and enter this code:
HLd:=If(CLOSE>Ref(Mov(H,3,S),-1),
{then}1,
{else}If(CLOSE<Ref(Mov(L,3,S),
-1),
{then}-1,
{else}0));
HLv:=ValueWhen(1,HLd<>0,HLd);
HLv<>Ref(HLv,-1);
3b. Create new and call it "Up-Trend", choose color, and enter
this code:
ut:=FmlVar("GANN-Trend","TDV");
uplot:=If(BarsSince(Ut=1)<
BarsSince(Ut=-1),1,0);
uplot=1;
3c. Create new and call it "Down-Trend", choose color, and enter
this code:
dt:=FmlVar("GANN-Trend","TDV");
dplot:=If(BarsSince(dt=1)>
BarsSince(dt=-1),1,0);
dplot=1;
4a. Under "Symbols" tab create new and call it " UpSwing", enter
this code:
FmlVar("GANN-Swing","SD2")=1;
then under graphic choose "Buy Arrow", choose color (Dark
Green), and small size, then pick "Above Price Plot".
4b. Create new and call it "DownSwing", enter this code:
FmlVar("GANN-Swing","SD2")=-1;
then under graphic choose "sell arrow", choose color (Dark Red),
and small size, then pick "Below Price Plot".
As for the HiLo ....just plot it as a regular indicator and
choose the last "style" option under "color/style" tab.
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from Ken
These are dynamic moving vertical lines. Each new bar causes the
line to move orward one bar.
How to Create a Vertical Line in MetaStock
{Plot in Stoch window}
{...you can change the 100 and 0 to 80/20 or ?}
n:=Input("Bars Before LastLoadedBar", 0,1000,89);
LastLoadedBarNum:=LastValue(Cum(1));
If(Cum(1)=(LastLoadedBarNum-n)+1,100,0)
....or
Create a new Expert.
Place the following in "Trends"/"Bullish".
n:=89;
LastLoadedBarNum:=LastValue(Cum(1));
Cum(1)=(LastLoadedBarNum-n)+1
In "Corner", UNcheck "Display symbol in Expert corner".
In "Ribbon", check Display Ribbon, Display Vertical Line, and
"Ribbon's inner window".
Delete or rename the "Neutral" label.
Choose Bullish color.
Plot Stochastic on chart, attach Expert, then drag Expert to
Stochastic inner window
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Filter (C>Mov(C,200,S) AND Ref(C,-5)<Ref(Mov(C,200,S),-5))
AND C>5 AND V>Mov(V,200,S)*2
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Filter (C<Mov(C,200,S) AND Ref(C,-5)>Ref(Mov(C,200,S),-5))
AND C>5 AND V>Mov(V,200,S)*2
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The formula I've adopted was put on the Silicon Investor web
site thread by
'bdog'. Basically, I just leave the Slowing Periods (mp3) to 1,
so it
really plays no part in things. However, if somebody presents a
good
argument for using other than 1 ... hey, I'm amenable.
Chande, the original inventor, didn't use a moving average on
the whole
thing. Chande's result was therefore sort of choppy. I guess
along the way
people decided to add the EMA Periods to smooth things out.
Here's the MSWin formula:
mp1:=Input("RSI Periods",1,377,13);
mp2:=Input("Stoch Periods",1,377,13);
mp3:=Input("Slowing Periods",1,377,1);
mp4:=Input("EMA Periods",1,377,5);
Mov(Sum((RSI(mp1)-LLV(RSI(mp1),mp2)),mp3)/Sum((.0000001+(HHV(RSI(mp1),mp2)-(
LLV(RSI(mp1),mp2)))),mp3),mp4,E)*100
Now, from various posts, etc., the following parameters (mp1,
mp2 and mp4)
*seem* to be the one's recommended. I'm trying to further find
consensus
among users of StochRSI on what really appears to work for them.
StochRSI Set
--------------------
5 -- 5 -- 3
8 -- 8 -- 5
13 -- 13 -- 13
21 -- 15 -- 13
21 -- 21 -- 13
34 -- 34 -- 13
55 -- 55 -- 21
89 -- 13 -- 34
89 -- 89 -- 21
233 -- 233 -- 34
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from Ton Maas ms-irb@wxs.nl
"Trading Stocks With A Cyclical System" by Jeffrey Owen Katz
(TASC-Feb1999).
(Translated for MetaStock 6.5 by Ton Maas -The Netherlands -
June1999).
----------------------------------------------------------------------------
(The system's original Easy Language formulas+system were
derived from
theabove mentioned TASC article). My guess is that Equis (Alan
McNichol) was
not in the possession of them when he wrote the Equis version of
the system,
back in the Feb99 Trader's Tips section of TASC).
-----------------------
MetaStock 6.5 Indicator
-----------------------
Name:
Cyclical System - J O Katz
Formula:
{TASC Feb99}
thresh:= {omit whipsaw} 4;
k:= {roc comparison period} 3;
m:= {cycle period} 63;
hld:= {maximum period holding position} 10;
Value1:= {volatility}
Stdev(Mov(C,m,S)-Mov(C,m+k,S),20);
Value2:= {roc, relative comparison ratio}
Mov(C,m,S)-Mov(C,m+k,S);
tv1:= thresh*Value1;
EL:={Enter Long} Value2>tv1;
CL:={Close Long} Ref(Cross(Value2,tv1),-hld);
ES:={Enter Short} Value2<tv1;
CS:={Close Short} Ref(Cross(tv1,Value2),-hld);
JKcycl:=If((EL>0)=1,+10,
If((ES>0)=1,-10,0));
JKcycl
---------------------------
MetaStock 6.5 System Tester
---------------------------
Name:
Jeffrey Owen Katz - Cyclical System
Notes:
{February 1999 - TASC-article (see also TRADERS' TIPS)}
Formulas:
{copy-repeat all that is printed below when applying for the
right rule}
thresh:= {omit whipsaw} 4;
k:= {roc comparison period} 3;
m:= {cycle period} 63;
hld:= {maximum period holding position} 10;
Value1:= {volatility}
Stdev(Mov(C,m,S)-Mov(C,m+k,S),20);
Value2:= {roc, relative comparison ratio}
Mov(C,m,S)-Mov(C,m+k,S);
tv1:= thresh*Value1;
Rules:
{Enter Long} Value2>tv1
{Close Long} Ref(Cross(Value2,tv1),-hld)
{Enter Short} Value2<tv1
{Close Short} Ref(Cross(tv1,Value2),-hld)
{After entering the formulas, click OK. Then click Options. On
the Testing
page, set the Trade Delay to zero, set Positions to "both", and
then set any
other desired options (apart from Optimizing, which is not
advisable; leave
the factory default settings). Click OK to save the changes, and
then open a
chart and run the system.}
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Periods:=Input("Enter Periods",2,13,2);
Mov(Mov(Mov(Fml("Candlecode"),Periods,S),Periods,S),Periods,S)
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(((CMO(C,5))+(CMO(C,10))+(CMO(C,20)))/3)
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S1:= Stdev( CMO(C,5),5);
S2:= Stdev(CMO(C,10),10);
S3:= Stdev(CMO(C,20),20);
CMOV:=(S1*CMO(C,5))+(S2*CMO(C,10))+(S3*CMO(C,20))/(S1+S2+S3);
CMOV;
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The following are MetaStock formulas for
Tuschar Chande's Momentum Oscillator. For interpretation refer
to the book The New Technical Trader, by Tuschar Chande
and Stanley Kroll.
CMO_1
Sum( If( C ,> ,Ref( C, -1 ) , ( C - Ref( C ,-1 ) ) ,0 ) ,14 )
CMO_2
Sum( If( C ,< ,Ref( C ,-1 ) , ( Ref( C ,-1 ) - C ) ) ,0 ) ,14 )
CMO_Final
100 * ( ( Fml( "CMO_1" ) - Fml( "CMO_2" ) ) / ( Fml( "CMO_1" ) +
Fml( "CMO_2" ) ) )
You could also combine the above three
formulas into one formula. The syntax would be:
100*((Sum(If(C,>,Ref(C,-1),(C-Ref(C,-1)),0),14))-(Sum(If(C,<,REF(C,-1),(REF(C,-1)-C),0),14)))
/((Sum(If(C,>,Ref(C,-1),(C-Ref(C,-1)),0),14)+(Sum(If(C,<,REF(C,-1),(REF(C,-1)-C),0),14))))
*** These formulas were constructed using 14
time periods, you can change this by replacing every occurrence
of 14 with your desired time period value.
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If(C>=Ref(C,-11),1,-1)+If(C>=Ref(C,-12),1,-1)+If(C>=Ref(C,-13),1,-1)+
If(C>=Ref(C,-14),1,-1)+If(C>=Ref(C,-15),1,-1)+If(C>=Ref(C,-16),1,-1)+
If(C>=Ref(C,-17),1,-1)+If(C>=Ref(C,-18),1,-1)+If(C>=Ref(C,-19),1,-1)+
If(C>=Ref(C,-20),1,-1)
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Comparative Relative Strength charts can be
useful in deciding which security to buy, by helping to pinpoint
the best performer. They can also be useful in developing
spreads, i.e., purchase of the best performer "long", and
selling the weaker issues "short." Comparative Relative Strength
can be applied in MetaStock for Windows as follows:
Creation of a Template for Comparative Relative Strength
(For this illustration, we assume an
equity/stock is compared to the S&P 500, both of which must
first have been collected from your vendor. Both data files
should be in the same periodicity.)
-
Load the S&P 500.
-
Load the equity, or whatever you wish to
find the relative strength for.
-
Drag the S&P 500 plot into a new inner
window of the equity. (You may need to click Stack first.)
-
Close the S&P 500 chart.
-
Create a custom indicator: Div(close, p)
-
Drag the custom indicator into the inner
window containing the S&P 500 plot, moving it over the plot
until the plot changes to a pink or lavender color, then
release your mouse button. (This is called dragging and
dropping an indicator on an indicator. The new indicator
will plot in the same window as the S&P 500 plot.) You have
two options here:
-
You can change the color of the S&P
500 plot to be the same as the chart background color,
so that it is effectively invisible. (Double-click the
S&P 500 plot to get to its "properties", then choose the
color you need from the Colors list.)
-
You can give both plots different
colors so you can tell which is which.
-
Save this chart as a Template. (File|Save
As, set "Save File As Type" to Template, and give it a name,
such as CMPRELST.MWT.)
Any time you want to see Comparative Relative
Strength of an equity against the S&P 500, apply this template
to the equity's chart. Note: if you should move the data file
against which you are comparing, such as the S&P 500, this
template will no longer work, and would have to be recreated.
To Run an Exploration Using Comparative
Relative Strength
-
Load the S&P 500 (or whatever you want to
compare against).
-
Create a custom indicator of the Close.
-
Drag and drop this indicator on the S&P
500 (or whatever...). (Note: the S&P 500 plot must change to
pink/lavender color before you drop it.) The indicator will
plot.
-
Select the indicator plot (by
single-clicking with the left mouse button on the line).
-
Do an Exploration with DIV(Close,p) in
column A, and specify which directory to explore.
-
The results are displayed in the
Exploration report.
(P is a special variable that points at the
last indicator plotted or selected.)
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(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
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The Coppock Curve was developed by Edwin
Sedgwick Coppock in 1962. It was featured in the November 94
issue of Technical Analysis of Stocks & Commodities, in
the article "The Coppock Curve", written by Elliot
Middleton.:
Taken from Stocks & Commodities, V. 12:11
(459-462): The Coppock Curve by Elliott Middleton
"We are creatures of habit. We judge the
world relative to what we have experienced. If we're shopping
for a mortgage and rates have been in the teens (as they were in
the early 1980s) and then drop to 10%, we are elated. If,
however, they've been at 8% and then rise to 10%, we are
disappointed. It all depends on your perspective.
The principle of adaptation-level applies to
how we judge our income levels, stock prices and virtually every
other variable in our lives. Psychologically, relativity
prevails..
SIMPLEST FORMS
The moving average is the simplest form of
adaptation-level. Moving average crossover rules accurately
signal the onset of periods of returns outside the norm, whether
positive or negative. This makes moving average crossovers
useful to traders who want to get a boost on entering or exiting
stocks or funds.
The oscillator is also based on
adaptation-level, although in a slightly different way.
Oscillators generally begin by calculating a percentage change
of current price from some previous price, where the previous
price is the adaptation-level or reference point. The mind is
attuned to percentage changes because they represent returns. If
you bought Microsoft Corp. stock (MSFT) at $50 and it goes to
$80, you make 60% before dividends. If you bought Berkshire
Hathaway (BRK) at $4,000 and it rises to $4,030, the same dollar
gain, you make 0.75% before dividends. It's the percentage
change that counts. Relativity again.
Coppock reasoned that the market's emotional
state could be determined by adding up the percentage changes
over the recent past to get a sense of the market's momentum
(and oscillators are generally momentum indicators ). So if we
compare prices relative to a year ago - which happens to be the
most common interval - and we see that this month the market is
up 15% over a year ago, last month it was up 12.5% over a year
ago, and 10%, 7.5% and 5%, respectively, the months before that,
then we may judge that the market is gaining momentum and, like
a trader watching for the upward crossover of the moving
average, we may jump into the market."
The MetaStock™ formula for the Coppock
Curve is:
(MOV(ROC(MOV(C,22,S),250,%),150,E))/100
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