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When I told MetaStock that I was willing to pay their usual rate for
custom programming to have the formulas converted to Excel, they
didn't mention any problems with copyrighted materials. They did
want a high fee because of the "work" involved. Since I was told by
MetaStock customer service that a translation should be "easy"
because of their great help menus and other documentation. I find
that MetaStock is not always consistent in its help menus and will
sometimes fall back to using MetaStock language in its explanations.
It may also reference books where the math for its formulas can be
found but those books may have many variations. It makes me wonder
whether MetaStock itself really knows exactly which versions of its
formulas are programmed into their system. I see this as a broader
problem with technical analysis, and why it suffers from a poor
reputation among the vast majority of buy-side quant firms that
require scientific documentation of methodology. As a former
institutional broker and marketer of investment management firms, I
can tell you that most would never admit to using technical analysis
even if they did. Still looking for a solution....
Re: <<I need the actual math translation of about 20 indicators.
Since I am not a programmer myself, I was (naively?) hoping the math
was easily documented somewhere or there was a way to extract the
code from MetaStock itself. MetaStock customer support doesn't even
have many of the translations! >>
--- In equismetastock@xxxxxxxxxxxxxxx, JayTownsend@xxxx wrote:
It's back to the old bugaboo that many of these are proprietary even
though they are published in works written by the original authors.
Wilder's Parabolic SAR and several other's of his are in his book,
Chakin's are in a book he wrote (if I remember right), Bollinger
Bands are in the writings of Bollinger. All of these sources and
many more are copyrighted and I'm sure that Eqis/MetaStock has to pay
a royalty in order to provide them in the software and part of their
agreement has to be that they will not reveal the formulas. When you
can determine the original author, you can go to their books. The
King County Library system (Seattle) had many of them and I'm sure
that other libraries do as well.
>
> Jay
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