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If you support Dr. Elder's methods and what he has tught us, buy AE's Elder-Disk for Metastock off of his website, it has what you need. The cost is a relatively inexpensive $199 based on the value of what you get.
Eddieedems3000 <edems3000@xxxxxxxxx> wrote:
I am trying to create an indicator, which I'll call an "Auto Envelope," like the one Dr. Elder describes, on page 95 of Come Into My Trading Room, as follows: A...channel contain[ing] the bulk of prices, with only a few extremes poking out...[such that it] contains approximately 95% of the prices for the past several months [this on a daily chart].Thus, the AutoEnvelope is like Bollinger Bands, except that it does not adjust continuously, but every so often.If you go to http://www.elder.com/MetaStock/AutoEnvelope.htm or view the "AutoEnvelope" PDF I've posted in the Files section of this group, you'll see the description of Auto Envelope contained within the User's Manual of a MetaStock Add-on. Here it is stated that the channels are automatically sized using a
100-bar standard deviation and that the channels change "at most once a week."Does anyone have an indicator like this on file? If not, can you offersuggestions as to how to build it? Creating a 2 standard deviation channel isn't the issue, it is how to cause it to only update at (user selected) time intervals.Thanks.Ed E.Do you Yahoo!?
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