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Preston,
Great timing! I had just read the article and was going to see if
anyone had coded this. Sure saved me a lot of time. Thanks!
May the trend be with you,
AW
--- In equismetastock@xxxxxxxxxxxxxxx, pumrysh <no_reply@xxxx> wrote:
> {Trend Strength Indicator}
> {for metastock, coded by P Umrysh}
> {from the August 2005 issue of Active Trader Magazine}
> PRD:= INPUT("ENTER PERIODS FOR SMA",1,100,10);
> STEP:= INPUT("ENTER SMA STEPS",1,50,10);
> A1:= IF(C > MOV(C,PRD,S),10,IF(C < MOV(C,PRD,S),-10,0));
> A2:= IF(C > MOV(C,PRD+STEP,S),10, IF(C < MOV(C,PRD+STEP,S),-10,0));
> A3:= IF(C > MOV(C,PRD+(STEP*2),S),10,IF(C < MOV(C,PRD+(STEP*2),S),-
> 10,0));
> A4:= IF(C > MOV(C,PRD+(STEP*3),S),10,IF(C < MOV(C,PRD+(STEP*3),S),-
> 10,0));
> A5:= IF(C > MOV(C,PRD+(STEP*4),S),10,IF(C < MOV(C,PRD+(STEP*4),S),-
> 10,0));
> A6:= IF(C > MOV(C,PRD+(STEP*5),S),10,IF(C < MOV(C,PRD+(STEP*5),S),-
> 10,0));
> A7:= IF(C > MOV(C,PRD+(STEP*6),S),10,IF(C < MOV(C,PRD+(STEP*6),S),-
> 10,0));
> A8:= IF(C > MOV(C,PRD+(STEP*7),S),10,IF(C < MOV(C,PRD+(STEP*7),S),-
> 10,0));
> A9:= IF(C > MOV(C,PRD+(STEP*8),S),10,IF(C < MOV(C,PRD+(STEP*8),S),-
> 10,0));
> A10:= IF(C > MOV(C,PRD+(STEP*9),S),10,IF(C < MOV(C,PRD+(STEP*9),S),-
> 10,0));
> A1+A2+A3+A4+A5+A6+A7+A8+A9+A10{end}
>
> Trend Strength Indicator
> from the August 2005 issue of Active Trader Magazine
>
> Description
> Looks how trendy a series is by comparing its price with various
> SMAs. All SMAs from PeriodStart to PeriodEnd (in steps of the Step
> parameter) are used for this indicator.
> The idea behind: The more SMAs are below (or above) the price the
> stronger is the trend of the price series. If some SMAs are above
and
> some are below the price no exact trend direction can be defined.
The
> indicator is normalized from -100 to +100, which serves as a value
of
> how many SMAs are above or below the price:
>
> + 100 Price is above all SMAs, i.e. all SMAs are below the price
> > 0 Price is above most SMAs
> 0 Price is above 50% and below the other 50% SMAs
> < 0 Price is below most SMAs
> - 100 Price is below all SMAs, i.e. all SMAs are above the price
>
>
> Usually, values above 60 (below -60) indicate a strong up- (down-)
> trend whereas values in-between indicate a sideways market. The
> results depend on the period-range used for the SMAs. The broader
the
> range (e.g. 20-200) the more significance does the indicator have.
> The longer the indicator remains at +/-100 the stronger the trend.
>
> Example
> This example uses 5 SMAs ranging from 30 to 110 in steps of 20:
>
> TrendStrengthASeries( #Close, 30, 110, 20 );
>
> So, the indicator can return one of these values:
>
> +100 Price above all 5 SMAs
> + 60 Price above 4 and below 1 SMA
> + 20 Price above 3 and below 2 SMAs
> - 20 Price above 2 and below 3 SMAs
> - 60 Price above 1 and below 4 SMAs
> - 100 Price below all 5 SMAs
>
> As you can see, the indicator value changes in steps of 40. The
more
> SMAs you use (i.e. the smaller the Step parameter) the more
continual
> (smoother) are the resulting values. Your step-value should be
small
> enough to get at least 10 different SMAs for indicative results.
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