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AW,
Glad you found it useful!
Preston
--- In equismetastock@xxxxxxxxxxxxxxx, awcalhouncrew <no_reply@xxxx>
wrote:
> 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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