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RE: [Metastockusers] Re: Volume Bars



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Hi 
Gordon,
<FONT color=#0000ff 
size=2> 
Thanks for 
the post - I'm not exactly sure what this indicator is trying to achieve green 
on days when volume expands upon the previous day, red went it contracts.  
If this is the case then it doesn't compare with the diagram you supplied or 
what I generate on my use of the indicator - perhaps I have 
misunderstood?
<FONT color=#0000ff 
size=2> 
<FONT color=#0000ff 
size=2>Cheers,
<FONT color=#0000ff 
size=2> 
<FONT color=#0000ff 
size=2>Jono
<FONT face=Tahoma color=#0000ff 
size=2> 
<FONT face=Tahoma color=#0000ff 
size=2> 
<FONT 
size=2><FONT face=Arial 
color=#0000ff> -----Original Message-----From: 
Gordon Sutherland [mailto:gosuth@xxxxxxxxxxxx]Sent: Tuesday, 7 
October 2003 11:51 AMTo: 
Metastockusers@xxxxxxxxxxxxxxxSubject: RE: [Metastockusers] Re: 
Volume Bars

    
  <FONT face=Arial color=#0000ff 
  size=2>Debra,
  <FONT face=Arial color=#0000ff 
  size=2> 
  I 
  attach a "png"  image file with a Metastock template that may be the sort 
  of thing you are looking for (at least such that you can modify to suit). If 
  this is of interest then read on and I will provide detailed instructions of 
  how to construct.
  <FONT face=Arial color=#0000ff 
  size=2> 
  <FONT face=Arial color=#0000ff 
  size=2>Firstly, let's recap your three posted requests:
  <FONT face=Arial color=#0000ff 
  size=2> 
  1. 
  Is there a formula written to 
  change the colors of the volume bars to distinguish them as "up days" and 
  "down days?"
  <FONT face=Arial color=#0000ff 
  size=2> 
  2. 
  I want to put a MA over the 
  Volume Bars to show Above Average and Below Average at a glance.  When I 
  choose a 14 SMA or any other low period, the line is useless.  If I 
  choose 200 period MA is will rest on the bars in some cases.  How can I 
  set this up to be meaningful?
  <FONT face=Arial color=#0000ff 
  size=2> 
  <FONT face=Arial 
  size=2>3. How do I set up MACD to show the 
  histogram as the comparison of the MACD MA with the Signal 
  Line?
  <FONT face=Arial color=#0000ff 
  size=2> 
  <FONT face=Arial color=#ff0000 
  size=2>Construction:
  <FONT face=Arial color=#0000ff 
  size=2> 
  <FONT face=Arial color=#0000ff 
  size=2>1. My previous posts supplied the formula 
  and methodology for your first request above (see the previous posts below). I 
  would add that in the second line of code there was an error which you must 
  have astutely adjusted for. The correct code for the Down Volume should be: 
  If(C<Ref(C,-1),V,0) - I omitted the "If" at the 
  start of the formula - my apologies to the Group.
  <FONT face=Arial color=#0000ff 
  size=2> 
  <FONT face=Arial color=#0000ff 
  size=2>2. Given that we have a Volume Color Study 
  in (1) above for Up days and Down Days we may wish to not have two inner 
  windows for Volume but rather use a Trend Ribbon Bar to achieve your request 
  (2) above (make above and below average Volume days visually very clear). To 
  create an Expert Ribbon do the following:
  <FONT face=Arial color=#0000ff 
  size=2> 
  a. 
  Open your Metastock template for (1) above and showing at the bottom of the 
  screen the Color Study for Up and Down days. I have displayed the 
  DJIA in the graphic file posted herewith, but use whatever ticker you 
  wish.
  b. 
  Open the Expert Advisor window, the icon of a guy with a bowler hat, and 
  choose New.
  c. 
  Type in a Name for the Expert and type any notes in the Notes 
  area.
  d. 
  Click on the Trends tab and type the following into the Bullish and Bearish 
  boxes respectively:
      <FONT face=Arial 
  color=#ff0000 size=2>V > Mov(V,21,S)*1.2 {bullish}
      
  V < Mov(V,21,S)*1.2 
  {bearish}
  e. 
  Change the default factor of "1.2" to "1.0" or any other weighting you choose 
  in the formulae in (d) to emphasize the size of the variance of Volume from 
  the 21SMA. Again, I like to use a 21SMA for comparison but use 
  whatever suits your trading style.
  f. 
  Click the Ribbon tab and check:
      <FONT face=Arial 
  color=#0000ff size=2>Display Ribbon in Chart
      <FONT face=Arial 
  color=#0000ff size=2>Bullish Background change to green and Pattern to None 
  and eliminate any type in the Label box
      <FONT face=Arial 
  color=#0000ff size=2>Do the same for Bearsih but use red
      <FONT face=Arial 
  color=#0000ff size=2>Do the same for Neutral but use say 
  yellow
      <FONT face=Arial 
  color=#0000ff size=2>Click OK
  g. 
  Click on the Corner tab and check:
      <FONT face=Arial 
  color=#0000ff size=2>Display Symbol in Expert Corner
      <FONT face=Arial 
  color=#0000ff size=2>Select your symbols and colors for Bullish; Bearish; and 
  Neutral
      <FONT face=Arial 
  color=#0000ff size=2>Click OK
  h. 
  You should be back in the Expert Advisor Trends window and if so Click 
  OK
  i. 
  In the Expert Advisor window choose the Attach tab
  j. 
  You should be back in the chart window with your Expert Ribbon now showing. If 
  so, click and hold the left mouse button and drag the Ribbon just above the 
  Volume Histogram Study window (You can leave at the bottom if you prefer of 
  course)
  k. 
  You have now created your inner window (Trend Ribbon) to show your requested 
  Study (2) above. For safety reasons, I suggest you save your Metastock 
  template at this stage in case of crashes etc. Go to File Command menu and 
  choose Save As... then use the drop down box arrow in the "Save as type:" 
  field to choose Template (*.mwt) and then select your Template for the 
  original Volume Up and Down Days Study (use a new name if you wish to 
  separate) and then click on Save.
  <FONT face=Arial color=#0000ff 
  size=2> 
  <FONT face=Arial color=#ff0000 
  size=2> I apologize if these instructions are too detailed but I 
  figure you can skim the obvious stuff but you can't if no notes are 
  provided!
  <FONT face=Arial color=#ff0000 
  size=2> 
  <FONT face=Arial color=#0000ff 
  size=2>3. Let's now construct your third request ie 
  the MACD v the Signal Line as a Histogram. I have also included an overlay of 
  the MACD in Line format and also to 'color up our lives a little' I have coded 
  the Histogram to be green above zero and red below zero! If I have interpreted 
  your instructions wrongly as to what you wish to display then please get back 
  to me.
  <FONT face=Arial color=#0000ff 
  size=2> 
  a. 
  Display your Metastock template showing your Volume Up/Down Days Color Study 
  and your Above and Below Average Volume Trend Ribbon Study (each in separate 
  inner windows) and then:
  b. 
  Click on Indicator Builder Icon and choose the New tab
  c. 
  Fill in a Name for the Indicator in the Name: box
  d. 
  In the formula box select, copy and paste the following (Ctrl + C) and (Ctrl + 
  V):
      
  X:= 
  MACD()-Mov(MACD(),9,E);    
  Green:=If(X>0,X,0);    
  Red:=If(X<=0,X,0);    Green; Red;
  <FONT face=Arial color=#ff0000 
  size=2>e. Make sure the box 
  "Display in Quicklist" is checked and then click OK and then click 
  Close
  f. 
  Click on the down arrow for the Indicator Quicklist back in the main chart 
  window
  g. 
  Select the Indicator you just created in c - e and click and hold down the 
  left mouse button whilst you drag the left-hand side icon for this Indicator 
  (marked with an "f") and when the mouse pointer turns to the image of a blank 
  chart just above the bottom of the Price Data inner window but above the two 
  other Volume Study inner windows then release the mouse 
  button.
  h. 
  Right click on the line chart that has just been plotted in this new inner 
  window and choose the Properties box for the name of the Indicator (the first 
  choice on the menu)
  i. 
  On the Color/Style tab choose Color: Dark Green and choose Style: 
  histogram image and then click OK
  j. 
  Right click on the red line for your new Macd Histogram which will be in line 
  form below zero
  k. 
  Choose the Properties box again for the name of the Indicator (the first 
  choice on the menu) and then on the Color/Style tab screen leave the Color as 
  Red and choose histogram image again for the Style: and then click 
  OK
  l. 
  You should now have the Macd Histogram plotted showing the difference between 
  the Signal Line and the difference between the two MA's (default ca 12 and 
  26). I find the Color makes the visual scan that much easier to 
  discern.
  m. 
  Let's now overlay the Macd and the Signal Lines in the same inner window for 
  the Macd Histogram (this is a format I picked up from TradeStation/SuperCharts 
  and helps you pick up on the strength and phase of the market a little easier, 
  but the histogram will be a little flatter due to 
scaling).
  n. 
  Click on the down arrow for the Indicator Quicklist back in the main chart 
  window and select MACD
  o. 
  Hold down the left mouse button whilst you drag the left-hand side icon for 
  this Indicator (marked with an "f") and when the mouse pointer turns to the 
  image of a sloping "W" inside the inner window for the Macd 
  Histogram, then release the mouse button.
  p. 
  Click OK to accept the D<FONT 
  face=Arial color=#0000ff size=2>efault settings and then choose Merge with 
  scale on the right and click OK
  q. 
  Right click on the solid red Macd Line just plotted and choose MACD 
  Properties
  r. 
  Select the Color/Style tab and choose Color: <SPAN 
  class=644504803-07102003>Dark Green (<SPAN 
  class=644504803-07102003>Blue if you prefer) and click 
  OK
  s. 
  You should now have the Macd and Signal Line Indicators overlayed on your Macd 
  Historgram. There should be an horizontal line at 0 which plots with the 
  Macd/Signal Indicators, if not, go back into the Properties box for the MACD 
  Line Indicator and select the Horizontal Lines tab and type in 0 in the top 
  left hand box and push Add and select Color: Blue and then click 
  OK
  <FONT face=Arial color=#0000ff 
  size=2> 
  If 
  you have not given up by this time, you should now have your template with all 
  three Studies showing as you requested! Don't forget to go the the 
  File>Save As>Save as type: Template (*.mwt)>template File name: (from 
  the list)>Save. Voila.
  <FONT face=Arial color=#0000ff 
  size=2> 
  I 
  hope the above provides what you were looking for (and any other Group 
  member that has gotten this far) and if it helps just a little to enhance 
  your trading returns then I shall be pleased for you.
  <FONT face=Arial color=#0000ff 
  size=2> 
  <FONT face=Arial color=#008080 
  size=2>Good luck and Good Hunting 
  -------------------->
   
  <FONT face="Kunstler Script" color=#008000 
  size=5>Regards,
  <FONT face="Kunstler Script" color=#008000 
  size=5> 
  Gordon 
  Sutherland
  
    
    <FONT 
    face=Tahoma size=2>-----Original Message-----From: Gordon 
    Sutherland [mailto:gosuth@xxxxxxxxxxxx] Sent: Monday, 6 October 
    2003 7:54 p.m.To: 
    Metastockusers@xxxxxxxxxxxxxxxSubject: RE: [Metastockusers] Re: 
    Volume Bars
    <FONT face=Arial color=#0000ff 
    size=2>Debra,
    <FONT face=Arial color=#0000ff 
    size=2> 
    <FONT face=Arial color=#0000ff 
    size=2>Glad the article from Equis was helpful. Will see if I can come up 
    with some suggestions for your points two and three 
    tomorrow.
     
    <FONT face="Kunstler Script" color=#008000 
    size=5>Regards,
    <FONT face="Kunstler Script" color=#008000 
    size=5> 
    Gordon 
    Sutherland
    
      
      <FONT 
      face=Tahoma size=2>-----Original Message-----From: Debra Ann 
      Petitan [mailto:DrDAP@xxxxxxxxxxxxxx] Sent: Monday, 6 October 
      2003 2:31 p.m.To: 
      Metastockusers@xxxxxxxxxxxxxxxSubject: Re: [Metastockusers] Re: 
      Volume BarsGordon, Thank you for your 
      fomula and going into such detail.  This is just the type of 
      instruction I need. It set up just fine.I had a 3 part 
      post, can you help me with parts 2 and 3?Thank you 
      again.Debra--- "Martin Blain" <martin@xxxxxxxxxxxxxxx> 
      wrote:Thank youMy problem was in changing to histogram. I see now 
      it is under style.Regards Martin----- Original Message 
      ----- From: "tobtrade2001" <tobtrade2001@xxxxxxxxx>To: 
      <Metastockusers@xxxxxxxxxxxxxxx>Sent: October 05, 2003 7:23 
      PMSubject: [Metastockusers] Re: Volume Bars> Try this 
      code>> clr:=input("change type to histogram color 
      black",0,0,0);> red:=if(c<ref(c,-1),v,0);> 
      gre:=if(c>ref(c,-1),v,0);> gre;red>> Paste the 
      above into a new indicator & drop the indicator into a new> 
      window. Cclick on a bar on this indicator where the price bar has 
      a> higher close than the previous (i.e. an up bar) & change its 
      color> to green. Then click on any remaining black bar on this 
      indicator &> change the color to red.>> --- In 
      Metastockusers@xxxxxxxxxxxxxxx, "Martin Blain" <martin@xxxx>> 
      wrote:> > MessageI am the only one that cant get this to 
      work?> >> > Regards Martin> >> 
      >> >   ----- Original Message ----- > 
      >   From: Gordon Sutherland> >   To: 
      Metastockusers@xxxxxxxxxxxxxxx> >   Sent: October 04, 
      2003 11:49 PM> >   Subject: RE: [Metastockusers] 
      Volume Bars> >> >> >   
      Debra,> >> >   The EquisMonitor (just 
      released) covers coloring volume bars> for "up" or "down" days. 
      Here is an extract:> >> >   "How can I make 
      my volume green for up bars and red for down> bars?> 
      >> >   To accomplish this, two custom indicators 
      will be needed. The> following formulas will display the volume 
      green when the close> price is greater than the prior closing price 
      and display the volume> red when the close price is less than the 
      prior closing price. To> create the indicator simply:> 
      >> >   Open the Tools menu and select Indicator 
      Builder> >   Click on New. Name your indicator (for 
      example, Volume Up)> >> >   Enter the 
      following syntax into the Formula field:> >   
      If(C>=ref(C,-1),V,0). Click OK.> >> >   
      Open the Tools menu and select Indicator Builder. Click on New.> 
      >   Name your indicator (for example Volume Down).> 
      >> >   Enter the following syntax into the Formula 
      field:> >   (C<ref(C,-1),V,0). Click OK.> 
      >> >   You should now have 2 new indicators in your 
      QuickList.> >> >   Apply the Volume Up 
      indicator to a new inner window in your chart> >   
      Right click on the indicator and select properties.> 
      >   Change the color to green and style histogram, and then 
      click on> OK.> >   Apply the Volume Down 
      indicator to same inner window as the> Volume Up.> 
      >   Right click on the indicator and select 
      properties.> >   Change the color to red and style 
      histogram, and then click on> OK.> >> 
      >   It is recommended to save this as a template, perhaps 
      your> default template, so that you do not have to do this every 
      time you> want it applied to a chart."> >> 
      >   Hope this helps.> >> >   
      Regards,> >> >> >   Gordon 
      Sutherland> >     -----Original 
      Message-----> >     From: Debra Ann Petitan 
      [mailto:DrDAP@xxxx]> >     Sent: Sunday, 5 
      October 2003 2:44 p.m.> >     To: 
      Metastockusers@xxxxxxxxxxxxxxx> >     
      Subject: [Metastockusers] Volume Bars> >> >> 
      >     Greetings,> >> 
      >     Is there a formula written to change the 
      colors of the volume> bars to distinguish them as "up days" and 
      "down days?"> >> >     I want to 
      put a MA over the Volume Bars to show Above Average> and Below 
      Average at a glance.  When I choose a 14 SMA or any other> low 
      period, the line is useless.  If I choose 200 period MA is 
      will> rest on the bars in some cases.  How can I set this up 
      to be> meaningful?> >> 
      >     How do I set up MACD to show the histogram as 
      the comparison> of the MACD MA with the Signal Line?> 
      >> >     Thank you for your help,> 
      >     Debra Ann> >> >> 
      >> >     
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