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--- Gordon Sutherland <gosuth@xxxxxxxxxxxx> wrote:
Greetings Gordon,
I am so appreciative of your work and time in helping me. The Indicator, Ribbon, and Expert Advisor have turned out just as you describe. They are in place and working.
Related to the Ribbon, I am not sure what the different widths of color represent. When I look at the Volume Bars above the different sections of color, they are not all green or all red as indicated by the Ribbon. How should I interpret the Ribbon Sections? Would the Green Section represent above Average Volume and the Red Section represent below Average Volume?
I am sure you can tell I am new at this and your explicit instructions are very much needed and appreciated.
Thank you so very much.
Regards,
Debra
-----Original Message-----
From: Gordon Sutherland [mailto:gosuth@xxxxxxxxxxxx]
Sent: Tuesday, 7 October 2003 11:51 AM
To: Metastockusers@xxxxxxxxxxxxxxx
Subject: RE: [Metastockusers] Re: Volume Bars
Debra,
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.
Firstly, let's recap your three posted requests:
1. Is there a formula written to change the colors of the volume bars to
distinguish them as "up days" and "down days?"
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?
3. How do I set up MACD to show the histogram as the comparison of the
MACD MA with the Signal Line?
Construction:
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.
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:
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:
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:
Display Ribbon in Chart
Bullish Background change to green and Pattern to None and eliminate
any type in the Label box
Do the same for Bearsih but use red
Do the same for Neutral but use say yellow
Click OK
g. Click on the Corner tab and check:
Display Symbol in Expert Corner
Select your symbols and colors for Bullish; Bearish; and Neutral
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.
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!
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.
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;
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 Default 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: Dark Green (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
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.
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.
Good luck and Good Hunting -------------------->
Regards,
Gordon Sutherland
-----Original Message-----
From: Gordon Sutherland [mailto:gosuth@xxxxxxxxxxxx]
Sent: Monday, 6 October 2003 7:54 p.m.
To: Metastockusers@xxxxxxxxxxxxxxx
Subject: RE: [Metastockusers] Re: Volume Bars
Debra,
Glad the article from Equis was helpful. Will see if I can come up with
some suggestions for your points two and three tomorrow.
Regards,
Gordon Sutherland
-----Original Message-----
From: Debra Ann Petitan [mailto:DrDAP@xxxxxxxxxxxxxx]
Sent: Monday, 6 October 2003 2:31 p.m.
To: Metastockusers@xxxxxxxxxxxxxxx
Subject: Re: [Metastockusers] Re: Volume Bars
Gordon,
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 you
My 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 PM
Subject: [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@x...]
> > 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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