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<FONT face=Arial color=#0000ff
size=2>Jono,
<FONT face=Arial color=#0000ff
size=2>
The
Volume bars are Green when it is an "Up Day" ie the Close is higher than the
previous Close. The Volume bars are Red when it is a "Down Day" ie the Close is
lower than the previous Close. A bit like a 1 day cumulative OBV I guess. The
wording is a little confusing but if you check the code lines you will see what
I mean.
<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: Jonathan King
[mailto:jking@xxxxxxxxxxxxxxx] Sent: Tuesday, 7 October 2003 6:25
p.m.To: Metastockusers@xxxxxxxxxxxxxxxSubject: RE:
[Metastockusers] Re: Volume Bars
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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