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I'm attempting to recreate a formula at Market Gauge. I've come pretty
close to recreating it as an indicator but can't get it to run as a
system test or Exploration. No Buys Generate and that is my issue.
Here is their explanation of the formula....
New High/New Low Ratio: The daily number of new highs divided by the
sum of new highs and new lows. The indicator is the 10-day moving
average of this ratio.
I've created the formula
Mov(Security("C:\MetaStock Data\BM
Data\X.NASD-H",C)/(Security("C:\MetaStock Data\BM Data\X.NASD-H",C)
+Security("C:\MetaStock Data\BM Data\X.NASD-L",C)),10,S)
and it appears to work as an indicator. I get a plot of the average
and the indicator is very close to what they get.
This looks very close to their indicator at this web site.
http://tal.marketgauge.com/dvMGPro/Charts/charts.asp?chart=OCHILO
But if I set it as a buy signal in the Metastock Enhanced system
tester....the indicator never generates a buy. Below I simply set it
up as >30 to create a buy. Obviously you can see that I'm referencing
the location of the Highs and Lows data on my hard drive in the
formula. I'm guessing it's how I'm accessing the highs and lows
that's messing me up???
I have tried using the formula, tired using the indicator...no buy
generates when running it against the Nasdaq Composite in the Enhanced
System tester. But looking at the indicator output...buys should
generate.
Mov(Security("C:\MetaStock Data\BM
Data\X.NASD-H",C)/(Security("C:\MetaStock Data\BM Data\X.NASD-H",C)
+Security("C:\MetaStock Data\BM Data\X.NASD-L",C)),10,S) > 30
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