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Hi, try this formula:
Coeff := Input("Coefficient:", 0.01, 0.1, 0.025);
Periods := Input("Periods EMA:",5,100,10);
Mov(C,Periods,E) + (Mov(C,Periods,E) * Coeff);
Mov(C,Periods,E) - (Mov(C,Periods,E) * Coeff)
You can adjust the coefficient & EMA to the appropriate value that
covers approx 95% of your price chart, as instructed by Older...errr
Elder.
Happy trading!!
--- In equismetastock@xxxxxxxxxxxxxxx, "pjrbutler" <Patrick@xxxx>
wrote:
>
>
> --- In equismetastock@xxxxxxxxxxxxxxx, Alwin Chuah <ctk188@xxxx>
> wrote:
> > Hi everyone
> > First of all, I would like to wish everyone "May you make a lot
of
> money in 2005".
> > OK now back to business
> >
> > In the book "Come into my trading room" by Dr Alexander Elder. He
> mentioned about channels.
> > He provide the formula
> > Upper channel line = EMA + EMA * Channel coefficient
> > Lower channel line = EMA - EMA * Channel coefficient
> >
> > So i was thinking whether anyone can help me in translating the
> above formula into a Metastock formula.
> >
> > Thanks
> > Alwin Chuah (KL , Malaysia)
> >
> > Hi Alwin,
> Regretably I can't help with your formula question, but Dr Elder
has
> his own website and sells a Metastock add-on of his theories. The
> cost of $199 USD is putting me off purchasing it , but you may have
> heard if it is of any use ??
> Glad to hear your comments
> >
> > ---------------------------------
> > Do you Yahoo!?
> > The all-new My Yahoo! – What will yours do?
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