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Hello to all.
I am a relatively new user of metastock and its indicator builder
interface. I'm trying to create 2 new indicators, but I'm having
some difficulty. Here are my indicators:
#1: I want to build * one * indicator to code for a bearish and
bullish engulfing candle form. I can code for both but I would like
to combine both formulae into 1 indicator. Here are the formulae:
Bullish: (O)<Ref(C,-1) AND
(L)<Ref(L,-1) AND
(H)>Ref(H,-1) AND
(C)>Ref(H,-1)
Bearish: (O)>Ref(C,-1) AND
(L)<Ref(L,-1) AND
(H)>Ref(H,-1) AND
(C)<Ref(L,-1)
Now my indicators will work seperately (both giving a positive 1
spike when the condition exists), but I would like to combine the
two formulae so that the bullish condition creates a +1 spike, and
the bearish condition creates a -1 spike. It seems like the
indicator builder only permits a true (+1) and false (0) reading.
Sorry if this is too rudimentary for you guys.
#2 My second problem is a bit more esoteric. Basically, I have
noticed that the MACD histogram can have predictive value under
certain circumstances. Specifically, suppose a market is trending
down in waves and the histogram is following suite. I have noticed
that (and this is hard to explain) when the MACD histogram crosses
the 0 line and exceeds the prior histogram peek, a low is probably
in place. How would one generally go about coding for that
scenario? Has anyone seen any "canned" codes that wmight help with
this project?
Thanks in advance.
Jim
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