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Can anyone shed light on how I could initialize a Variable Moving
Average in the same way that Metastock's built-in VMA indicator is
initialized? This indicator is based on Chande's VIDYA, which uses
Chande's CMO as a volatility index to control the rate of change of
the variable moving average. The built-in VMA is based on a 9-period
CMO, and if the selected length of the moving average is 10, it
appears that MetaStock waits 9 bars to calculate the starting CMO
value, then begins calculating the moving average, so it's about 20
bars before the first value of the MA is plotted. And, that first
value appears to be the close of the initial bar.
When I attempt to duplicate this in the indicator builder, using
formulas from the Guppytraders site as a starting point, my indicator
starts at the 10th bar for a 10-period moving average, so I'm
obviously starting the calculation of both the CMO-based volatility
index and the MA itself, together on the first bar. In addition,
depending on how I use the IF() and Cum() functions to initialize it,
the initial values of the VMA are either at or near zero, or using
the close for the first several bars, which means it takes quite a
while for the weight of those incorrect initial values to drop enough
that my VMA stabilizes and matches the MetaStock version.
Seems to me that it would be helpful if I had a MetaStock equivalent
of the Excel =N/A function - the indicator simply wouldn't exist to
be plotted until a specified bar, and the first calculated value
would simply be based on the close of the previous bar. Using the IF
and CUM functions, the best I can do is have two alternative
calculations for before and after the desired bar, rather than simply
starting the calculation at the desired bar and having NO value for
the indicator prior to that point. Any suggestions, anyone?
Thank you.
Gary
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