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1997 December TASC Trader's Tip - Volatility % Indicator In "High volatility and market turns" in this issue, William Brower uses a historical market lookbackto show how volatility readings can help predict turns in the market. The indicator he presents, volatility%, is used to analyze the true range of the Dow Jones Industrial Average (DJIA), and thus compare the historical market with today's market. You can easily create the Volatility% Indicator from William Brower's article in MetaStock for Windows. First choose Indicator Builder from the Tools menu in MetaStock.Next choose New and enter one of the following formulas: Formula for MetaStock 6.5 |
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Volatility % Indicator Lookback := Input("Time Periods",1,1000,50); HighVolatility := Input("High Volatility %",.01,100,3); 100 * Sum(100 * ATR(1)/CLOSE > HighVolatility,Lookback)/Lookback |
Now drag the Volatility% from the Indicator QuickList and drop it onthe desired chart. Allan McNichol Equis International | |
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