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Cheers
Gordon,
<FONT face=Arial color=#0000ff
size=2>
Ol'
dopey me - it finally clicked you were talking about volume on price action
rather than volume alone.
<FONT face=Arial color=#0000ff
size=2>
<FONT face=Arial color=#0000ff
size=2>Cheers,
<FONT face=Arial color=#0000ff
size=2>
<FONT face=Arial color=#0000ff
size=2>Jono
<FONT face=Tahoma
size=2>-----Original Message-----From: Gordon Sutherland
[mailto:gosuth@xxxxxxxxxxxx]Sent: Tuesday, 7 October 2003 4:32
PMTo: Metastockusers@xxxxxxxxxxxxxxxSubject: RE:
[Metastockusers] Re: Volume Bars
<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>
<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>
<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>
<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>
<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.
<FONT face=Arial color=#0000ff
size=2>b. Open the Expert Advisor window, the icon of a guy with a bowler
hat, and choose New.
<FONT face=Arial color=#0000ff
size=2>c. Type in a Name for the Expert and type any notes in the Notes
area.
<FONT face=Arial color=#0000ff
size=2>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}
<FONT face=Arial color=#0000ff
size=2>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.
<FONT face=Arial color=#0000ff
size=2>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
<FONT face=Arial color=#0000ff
size=2>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
<FONT face=Arial color=#0000ff
size=2>h. You should be back in the Expert Advisor Trends window and if so
Click OK
<FONT face=Arial color=#0000ff
size=2>i. In the Expert Advisor window choose the Attach
tab
<FONT face=Arial color=#0000ff
size=2>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)
<FONT face=Arial color=#0000ff
size=2>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>
<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:
<FONT face=Arial color=#0000ff
size=2>b. Click on Indicator Builder Icon and choose the New
tab
<FONT face=Arial color=#0000ff
size=2>c. Fill in a Name for the Indicator in the Name:
box
<FONT face=Arial color=#0000ff
size=2>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
<FONT face=Arial color=#0000ff
size=2>f. Click on the down arrow for the Indicator Quicklist back in the
main chart window
<FONT face=Arial color=#0000ff
size=2>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.
<FONT face=Arial color=#0000ff
size=2>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)
<FONT face=Arial color=#0000ff
size=2>i. On the Color/Style tab choose Color: Dark Green and choose
Style: histogram image and then click OK
<FONT face=Arial color=#0000ff
size=2>j. Right click on the red line for your new Macd Histogram which
will be in line form below zero
<FONT face=Arial color=#0000ff
size=2>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
<FONT face=Arial color=#0000ff
size=2>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.
<FONT face=Arial color=#0000ff
size=2>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).
<FONT face=Arial color=#0000ff
size=2>n. Click on the down arrow for the Indicator Quicklist back in the
main chart window and select MACD
<FONT face=Arial color=#0000ff
size=2>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.
<FONT face=Arial color=#0000ff
size=2>p. Click OK to accept the D<SPAN
class=262044523-06102003>efault
settings and then choose Merge with scale on the right and click
OK
<FONT face=Arial color=#0000ff
size=2>q. Right click on the solid red Macd Line just plotted and choose
MACD Properties
<FONT face=Arial color=#0000ff
size=2>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
<FONT face=Arial color=#0000ff
size=2>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>
<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>
<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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every day of the week -- absolutely FREE! Just go to> <A
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Metastockusers-unsubscribe@xxxxxxxxxxx> >>
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_____________________________________________________________Calling
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laughing over their morning corn flakes...now he's waddling into
cyberspace to spread his mirth (and girth)!You can now get the
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