Re: Psychological Index

["A.J. Maas" <anthmaas@xxxxxxxxx>]

MSK 6.5 Man.p.272 - Function Input() used as a stand-alone plot command
                         p.271 - Each plot will have the same colour
                         p.271 - Each statement must be separated with a semi-colon
                                      {typo made in manual, it wants to end each expression
                                       with a semi-colon, this should be each STATEMENT should
                                       end with a semi-colon and added to it should be EXCEPT
                                       for any last statement(no reason to continue separating)}   

MSK7.0  Man.p.292 - Function Input() used as a stand-alone plot command
                         p.290 - Multi plots can have different colours, just right-click for Properties
                         p.290 - Each statement must be separated with a semi-colon
                                      {typo made in manual, it wants to end each expression
                                       with a semi-colon, this should be each STATEMENT should
                                       end with a semi-colon and added to it should be EXCEPT
                                       for any last statement(no reason to continue separating)}

Regards,
Ton Maas
ms-irb@xxxxxxxxxxxxxxxx
Dismiss the ".nospam" bit (including the dot) when replying.
Homepage  http://home.planet.nl/~anthmaas


----- Original Message ----- 
From: "HHP" <hhp@xxxxxxxx>
To: <metastock@xxxxxxxxxxxxx>
Sent: maandag 7 augustus 2000 19:40
Subject: Re: Psychological Index


> Your UThreshold and LThreshold are the first time I've seen the Input()
> function used for this purpose.  Good thinking.  I'll steal that idea.
> 
> HHP
> ==================
> 
> Glen Wallace wrote:
> > 
> > There was an overbought/oversold indicator described in the June 2000 Futures
> > Magazine called the Psychological Index.  It looked sort of interesting, so I
> > wrote the MetaStock code for it:
> > 
> > {Futures Magazine, Vol.29 No.6, June 2000, P.48}
> > LookBack:= Input("Number of lookback periods", 2, 100, 12);
> > UThreshold:= Input("Upper threshold (%)", 0, 100, 75);
> > LThreshold:= Input("Lower threshold (%)", 0, 100, 25);
> > UpDay:= If(CLOSE > Ref(CLOSE,-1), 1, 0);
> > PsychIndex:= Sum(UpDay,LookBack) / LookBack * 100;
> > PsychIndex; UThreshold; LThreshold
> > 
> > The article described the standard lookback period as 12 bars with a level of
> > 75% or higher being an indication of an overbought market and 25% or lower
> > being an oversold market.  Like most overbought/oversold indicators, it will
> > give poor results in a strongly trending market, but perhaps using an ADX and
> > trend direction filter, it might prove useful.
> > 
> > On 5-minute bars in the bonds, you have to constantly adjust the thresholds
> > for an upward or downward bias, but if you increase the lookback period and
> > widen the signal levels for less frequent signals, the results were
> > interesting.
> > 
> > Regards.
> > _______________________________________________
> > 
> > System Tester code:
> > 
> > Enter Long / Close Short
> > -------------------------
> > LookBack:=   opt1;
> > UThreshold:= opt2;
> > LThreshold:= opt3;
> > UpDay:= If(CLOSE > Ref(CLOSE,-1), 1, 0);
> > PsychIndex:= Sum(UpDay,LookBack) / LookBack * 100;
> > PsychIndex <= LThreshold
> > 
> > Enter Short / Close Long
> > -------------------------
> > LookBack:=   opt1;
> > UThreshold:= opt2;
> > LThreshold:= opt3;
> > UpDay:= If(CLOSE > Ref(CLOSE,-1), 1, 0);
> > PsychIndex:= Sum(UpDay,LookBack) / LookBack * 100;
> > PsychIndex >= UThreshold
>