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- 23 Eki 2020
.. I have a Metastock Formula of my own creation that I would like to share:
I call this formula "Buy/Sell and Dir. Mov. Equalized". This formula comes from the components of two other Indicators in found in Metastock - The Demand Index and the Directional Movement Indicator, or ADX. Fortunately, Metastock offers isolated components of each of these two so they can be plotted individually or combined with others. The basic formula is this:
Buy/Sell and Dir. Mov. Equalized
p1:=Input("Buy Pressure and Sell Pressure %",0,100,50);
p2:=Input("Positive/Negative Price Movement %",0,100,50);
(BuyP()/(BuyP()+SellP())-0.5)*100*(p1/100) + (PDI(21)/(PDI(21)+MDI(21))-0.5)*100*(p2/100)
I do not trade off the signal generated by this indicator alone. It crosses the Zero line too often for my liking. Rather, I plot a seperate Price Osc. on top of it and use the signal generated by that Osc.:
Fennick Price Oscillator
I use this indicator and also the Demand Index together to give me a good Price/Volume picture of what I'm trading. Plotting the Buy/Sell Pressure by itself is very erratic. Plotting the ADX by itself omits the volume picture. Just change the percentages of each in the Input window to 0 and 100 for each half for comparison purposes. The 21 Day PDI/MDI balances out the daily BuyP/SellP factor.
I also use this formula in an Exploration to find securities making solid turning points:
Formula name: "Cum. Buy/Sell and Dir. Mov. Equalized"
Fml("Buy/Sell and Dir. Mov. Equalized")
ROC(Fml("Cum. Buy/Sell and Dir. Mov. Equalized"),5,$)
I hope this is a useful addition to your website's collection!!!
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