Metastock trading range

Official MetaStock Blog: MestaStock - Trading Range Market Conditions S&P Index chart

Shows those stocks where an MACD crossover has been signalled. The search returns 1 for Ok and 0 for not ok. Cross Mov C,13,E ,Mov C,5,E Now you can play with these combinations on both the enter long and close long side.

You may want to enter when the 5 crosses above the 13 and not wait for the 40 OR, you may just want to use the 5 cross above the 40 and forget about the The Input Function MSK-man. It is reserved to be used in a custom indicator. However, the custom indicator's default value can be used in an exploration. By referencing the Input Function using the fml CALL Function MSK-man. MACD crosses my Trigger Columns: FML "MACDcustom , MACD" Colc: FML "MACDcustom , YourTrig" Filter: This explorer looks for stocks exhibiting extreme divergence from the MACD Histogram.

In his book "Trading for a Living", Alexander Elder argues that divergence from the MACD Histogram gives the strongest signals in the whole of technical analysis.

The above formula can also be combined with a volatility buy signal and a volume signal. The following addition is then made. The volatility buy signal. Initial tests with this system have been encouraging. As you know, MACD is always bottoming or topping before crossing its trigger line. However, the MACD signal comes always a bit late compared to price movement. One way to do what you want would be using the 'Rate of Change' function.

If that is to noisy, you could smooth it a bit with: Another way to do what you want would be to look for peaks and troughs using the 'Peak' and 'Trough' functions. I'm working on code to identify divergences using this method. This is the basic calculation: Plot this grand total in your chart for each new trading day.

Market Pressure - Ultimate can show divergences with the instrument it is plotted against. Metastock code for Market Pressure - Ultimate: The McClellan Oscillator, developed by Sherman and Marian McClellan, is a market breadth indicator that is based on the smoothed difference between the number of advancing and declining issues on the New York Stock Exchange.

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The McClellan Oscillator is one of the most popular breadth indicators. Buy signals are typically generated when the McClellan Oscillator falls into the oversold area of to and turns up. Extensive coverage of the McClellan Oscillator is provided in their book Patterns for Profit.

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The McClellan Summation Index is a market breadth indicator developed by Sherman and Marian McClellan. It is a long-term version of the McClellan Oscillator and its interpretation is similar to that of the McClellan Oscillator except that it is more suited to major trend reversals.

For more extensive coverage of the index refer to the book Patterns for Profit, by Sherman and Marian McClellan. McClellan suggests the following rules for use with the summation Index: Look for major bottoms when the Summation Index falls below The summation index is plotted by adding the Cum function to the McCllellan Oscillator.

The formula is Cum Mov C,19,E - Mov C,39,E.

As a result, when using other than default parameters, the coloured dots appear in inappropriate places. If the coloured dots are considered unnecessary the Expert can simply be detached.

Alternatively, below is a hard-coded version. There is no screen to enter optional parameters. Or make the change in the Formula Editor. For regular use, get the display to your liking, then create a template. Dot, Small, Green, Above price plot Symbols tab. Dot, Small, Magenta, Below price plot. Using the default values used in the formulas, I have found that these upper and lower bands provide effective risk control while trading. The upper band can be used as the extreme point to get rid of shorts and vice versa.

In fact, prices tend to remain above both the bands while the market is in a strong uptrend, and prices remain below the bands in a downtrend. During short-term range-bound markets, they tend move between the bands. I have found this idea in Tushar Chande's "New Technical Trader". Since you have studied ATR so thoroughly, it would be be very nice if you could comment on them.

Can be made into a template for easier usage. Trough 1,L,10 -Trough 2,L, TroughBars 2,L,10 -TroughBars 1,L, This formula will draw a trendline from the most recent bottom. The L low can be changed to C close and the 10 can be changed to a different percent value. You will also need to change the line style to the last one in the drop down list. Those who know me have found out I vacillate between the VERY complicated and the very simple.

I wanted to track those that did best and those that were not as effective. I also tracked those formulas that were late in showing turns in momentum vs those that caught the turn close on. In this regard, I was looking for finding stocks at intermediate term lows and highs, NOT for indicators that identified stocks that had begun their run in any direction and were destined to continue. As a result, I came up with a very simple indicator that showed a HIGH degree of accuracy in "turn-calling", but it did NOT give me indication of the strength or duration of the new move, only that it probably would occur.

I believe that I have finally discovered that any signal of a change in momentum will NEVER give you a sense of strength or duration BY ITS VERY NATURE, and that only signals that identify stocks WITHIN a momentum trend ie.. My momentum trend change indicator is derived from an intermediate trend indicator I've used for some time in MSWIN 6. PDI 34 - MDI My new formula is I think you'll like it BW Chan I have posted an update to the RMTA and TOSC formula's, the first formulas had an "Absolute Value" that wasn't called for in the article I had mistaken the "[" "]" to mean " " " ".

The new formulas seem to plot exactly as the old Thanks go out to William Golson for the help. Input "horizontal line 1",,50,5 ;. Input "horizontal line 2",,50,-5 ;. WRITEVAL BBandTop C,21,E,2 , WRITEVAL MOV C,21,E , WRITEVAL BBandBOT C,21,E,2 , To find the securities that have closed above their high today the last trading day in the database for the first time, I have written this MetaStock Explorer.

Official MetaStock Blog: MestaStock - Trading Range Market Conditions S&P Index chart

This is a MetaStock formula that I have had good success with. Copy and paste this into the Explorer filter. The reason that I specified that the first 3 days close was the same as or less than the previous days close was that it would pick up all stock in an up trend if it was just the 4th day closing higher than the 3 previous you would get hundreds of returns on the search.

It will pick up stock that was in a trading range or consolidating, then breaking out of the range. The reason that I had the 4th day higher than the 3 previous was because it would otherwise pick stock in a downtrend with no significant increase in the close on day 4. If the stock breaches the previous day's close on the open, I will enter the trade and put a trailing stop loss into play.

It's not worth using for long term investors. Some have also suggested using periods of 25 or 50 days, though I use only 10 days. Others have suggested it's very useful when used in conjunction with Welles Wilder's RSI.

I have updated some of the code since my last post concerning the TASC articles written by Robert Krausz. The code now plots on the proper days instead of 1 day ahead and they should also be more efficient to calculate. These are named different so you should delete the old code after you have installed the new. I will also post a follow up with a graphic to show how these plot. I have tested it on various time periods for Bollinger Bands using 2 standard deviations.

Divergences have also been somewhat better. The MFI Money Flow Index can be used in place of the OBV On Balance Volume and Chaikin Oscillator to confirm Bollinger Bands. The Money Flow Index "The money flow index MFI is a volume-weighted form of the relative strength index RSI. Instead of using up closes versus down closes, the MFI compares today's average price to yesterday's average price and then weighs the average price by volume to calculate money flow MF.

The ratio of the summed positive and negative money flows are then normalized to be on a scale of zero to BuySignal1 OR BuySignal2 OR BuySignal3 OR BuySignal4. SellSignal1 OR SellSignal2 OR SellSignal3.

Same process to exit the market. This is a10 and 30 day moving average crossover search. Results close to 0 pinpoint the crossover. What follows is a simple example using a moving average crossover system for MetaStock, employing 10 and 30 day exponential averages. These are just examples and profitability is dubious. Custom indicator which gives 1 for longs and -1 for shorts-- Indicator Name: I've got a specific question.

I use WOW and MetaStock. Suppose I've got some indicator that ranges from 0 to and I have a system that says "buy when the indicator goes above 90 and hold until it goes below 10 and then sell" or something.

Notice that if the indicator is between 10 and 90 that you don't know whether that's a hold or a don't hold unless you know whether it last crossed 90 or So far so good. This seems like a general problem that must come up often but it is not obvious to me how to code it. I'll bet other people could benefit from the answer as well.

Thanks to all of you for the great help and input to the question of how to deal with combining the indicators in a system when one of them gives a signal by crossing.

There were two responses, one can be seen in from Larry on the Yahoo! MetaStock board thanks Mike which is answering a slightly different question. That solution seems like what one would use if one wanted to look for system 2 signalling a buy the same day as system 1 signalling a buy by crossing a value. What I actually wanted to do was have a way of looking for system 2 signalling a buy during anytime that system 1 was saying hold because its last signal had been a buy. This was addressed very nicely by Paul in message I took his idea to make the following indicator: Imagine that this is a really long term indicator.

This is a big step forward for me. Mutated Variables, Volatility and a New Market Paradigm by Walter T. In MetaStock for Windows 6. First, choose Expert Advisor from the tools menu in MetaStock. Create a new Expert with the following highlights: Click OK to save the changes to the Expert. Open a chart and then click your right-mouse button while pointing at the chart heading.

Choose Expert Advisor and then choose Attach from the chart shortcut menu. Choose the New Market Paradigm Expert and then click the OK button. The price bars in the chart will be highlighted blue during a contraction phase and red in an expansion phase. The Market Facilitation Index by Gary Hoover. The Market Facilitation Index MFI is one indicator that synthesizes both price and volume analysis.

The MFI is the ratio of the current bar's range high-low to the bar's volume. The MFI is designed to gauge the efficiency of price movement. The efficiency is measured by comparing the current bar's MFI value to the previous bar's MFI value. If the MFI increased, then the market is facilitating trade and is more efficient, implying that the market is trending. If the MFI decreased, then the market is becoming less efficient, which may indicate a trading range is developing that may be a trend reversal….

Here is how to do this in MetaStock 6. The first step is to create a new expert by choosing Expert Advisor from MetaStock's Tool menu, and then choose New from the Expert Advisor. Name the expert "Market Facilitation Index", enter any notes you like and then click on the Highlights tab.

Enter the following Highlights by choosing New, the color and then entering the following formulas: After you have entered the four highlights click OK to finish editing the expert's properties. You can now right-click on the heading or background of any chart.

Next select Expert Advisor and then Attach from the Chart shortcut menu. Attach the market facilitation index expert, and it will highlight the four market facilitation patterns that were discussed in Hartle's article. You can save a chart as a template with this expert attached, and then any time you apply the template to a chart the market facilitation index expert will automatically attach to the chart.

The Cumulative Market Thrust Line by Tushar S. Since then, variations have been suggested on the theme and here, Chande offers the variation of a cumulative market thrust line, in which market thrust is cumulated to calculate a volumetric advance-decline line by including the effect of up and down volume. Composite securities are created from 4 separate files. Advances, Declines, Upvolume, Downvolume. The article side bar presupposes the user has these four files.

Reuters Trend Data RTD supplies this data in two files. The tickers are X. NYSE-A Advances, number and volume and X. NYSE-D Declines, number and volume. CompuServe supplies this data in 4 files. The tickers are NYSEI Advances ; NYSEJ declines ; NYUP Advance volume and NYDN decline volume. Advances, number and volume and Declines, number and volume.

For the Windows versions of MetaStock: For RTD and Dial Data: Load advances, plot formula 1. Drag the plotted formula 1 from the advances in to the declines chart. Plot the thrust indicator formula 2 directly on top of the plotted formula 1 in the declines chart. Load advances composite , plot formula 1.

You now have the thrust indicator plotted exactly as the article discusses. The KST indicator was developed by Martin J.

The name KST comes from "Know Sure Thing". The KST is constructed by summing four smoothed rates of change. For more interpretation refer to Martin Pring's article "Summed Rate of Change KST " in the September 92 issue of TASC.

The following formulas are MetaStock formulas for the KST. Daily KST Simple Moving Average. Long-Term Monthly KST Simple Moving Average. Intermediate KST Simple Moving Average. Intermediate KST Exponential Moving Average.

Long-Term KST Exponential Moving Average. Short-Term KST Weekly Exponential Moving Average. The Mass Index was designed to identify trend reversals by measuring the narrowing and widening of the range between the high and low prices.

As the range widens the Mass Index increases; as the range narrows the Mass Index decreases. The Mass Index by Donald Dorsey. Examining this pattern, Donald Dorsey explains, allows the technician to forecast market reversals that other indicators may miss.

Dorsey proposes the use of range oscillators in his mass index. The following is the MetaStock formula for. The interpretation for the Modified Volatility Index was taken from the article Modifying The Volatility Index , by S. Jack Karczewski, in the April issue of TASC.

It is updated by the CBOE. This formula assumes you can get the VIX information downloaded from some data vendor, such as Dial Data, Telescan, or DBC Signal. The custom formula you should create is the Modified VIX: The steps to get the actual charts are: You now have a plot of the Modified VIX. Frequently we get requests for a formula that would take only one day of the week and average them for several weeks. For example construct a moving average of only the Fridays. The following MetaStock formula is for a moving average of the Friday of every week, if you want it calculated on any other day you would substitute a 1 for Monday, 2 for Tuesday, 3 for Wednesday, and 4 for Thursday.

How 3 Indicators Improve the Accuracy of Any Trading System

The number of day you wanted would replace the two 5's already in the formula. This moving average is currently a 6 week or 6 Friday moving average. If you wanted to change it to another periodicity you would change the 30 to the number of weeks or specific days multiplied by 5. Now choose new and enter the following system test rules and options: Now you can play with these combinations on both the enter long and close long side.

For example, keep the same Enter Long but change the Close Long to: Cross Mov C,40,E ,Mov C,5,E. This will keep you in the trade longer. Home MetaStock Secrets Free MS Newsletter Free MS Formula Buy MS Formulas FREE Videos MS Back Testing Trading Systems Nicolas Darvas MetaStock Links Rave Reviews About Us Contact Us SiteMap. These formulas aren't my complete collection. For my complete collection of instantly usable , profitable and powerful MetaStock formulas Click Here.

Signal Formulas Enter Long: Cross Mov C,13,E ,Mov C,5,E. Metastock Formulas - M Click here to go back to Metastock Formula Index IMPORTANT: MACD Crossover Buy Signal Shows those stocks where an MACD crossover has been signalled. MACD Crossover System test in MetaStock, an example of how to create Enter Long: MACD Custom The Input Function MSK-man.

MACD Histogram Divergence This explorer looks for stocks exhibiting extreme divergence from the MACD Histogram. MACD Tops and Bottoms QUESTION: Market Pressure - Ultimate This is the basic calculation: McClellan Oscillator The McClellan Oscillator, developed by Sherman and Marian McClellan, is a market breadth indicator that is based on the smoothed difference between the number of advancing and declining issues on the New York Stock Exchange.

McClellan Summation Index The McClellan Summation Index is a market breadth indicator developed by Sherman and Marian McClellan. Dot, Small, Magenta, Below price plot Go Top.

Metastock Adjustable Trading Bands Using the default values used in the formulas, I have found that these upper and lower bands provide effective risk control while trading.

PDI 34 - MDI 34 My new formula is Metastock Custom Indicator Moving Averages periods1: Metastock Expert Commentary by Michael Arnoldi Review of: Metastock-Stocks Closing Above 60 Day High To find the securities that have closed above their high today the last trading day in the database for the first time, I have written this MetaStock Explorer. Mick's Breakout Exploration This is a MetaStock formula that I have had good success with.

Miesal Indicator "It's a short term timing tool. Mixed Balance Point Krause Update I have updated some of the code since my last post concerning the TASC articles written by Robert Krausz. Modified 50 Day Moving Average N: Money Flow Index The MFI Money Flow Index can be used in place of the OBV On Balance Volume and Chaikin Oscillator to confirm Bollinger Bands. MovAvg Asymmetric Volatility Price Bands SIGNAL FORMULAS Enter Long: Moving Average Channel "The MetaStock moving average function has an option for displacing the mov both vertically and horizontally.

Issen "I use moving average, instead of Bollinger Bands, creating three indicators in the following way, and saving them in a template: Moving Average CrossoverBullish This is a10 and 30 day moving average crossover search.

Moving Average Crossovers What follows is a simple example using a moving average crossover system for MetaStock, employing 10 and 30 day exponential averages. MTF-Fixed Balance Point name: Mutated Variables, Volatility and a New Market Paradigm Mutated Variables, Volatility and a New Market Paradigm by Walter T.

Red Click OK to save the changes to the Expert. The Market Facilitation Index by Gary Hoover "Applying technical analysis to developing trading signals begins with the investigation of price movement and often incorporates volume studies to improve trading accuracy. McNichol, Equis International Go Top.

Martin Pring's KST Formulas The KST indicator was developed by Martin J. Mass Index The Mass Index was designed to identify trend reversals by measuring the narrowing and widening of the range between the high and low prices.

The Mass Index by Donald Dorsey "Range oscillation, not often covered by students of technical analysis, delves into repetitive market patterns during which the daily trading range narrows and widens. Modified VIX Indicator The interpretation for the Modified Volatility Index was taken from the article Modifying The Volatility Index , by S. Morris Double Momentum Indicator Mov ROC C, Moving Average of Only One Day of the Week Frequently we get requests for a formula that would take only one day of the week and average them for several weeks.