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Hi all,
I'm having fun 'n games trying to combine time periods in
calculations in a single indicator. If its not possible to do in
standard MS Pro v8 are there any DLL addins available out there which
can be called to provide functionality as envisaged? Alternatively
will a more recent version of MS allow me to do this. I'm actually
doing more complex calcs, but the logic would be the same, so in
Metastock formula language:
How can I make an indicator automatically use a different lookback
period (or keep the effective lookback time constant) when an
indicator is applied to different time frame charts?
e.g. take the weekly (Friday) CLOSE PRICE of a commodity / LOWEST LOW
PRICE of the previous 3 years
I plot on a weekly chart: Close / LLV(Low,156) {where
52 weeks * 3 = 156}
Now apply this indicator to a daily chart and I'd expect that 156 is
now 156 DAYS when I'd actually like to use something more like 750
days (ca. 3 years) in this case. How can I make the indicator detect
which data period is being used and apply 156 (for weekly plot) or
750 (on a daily plot) automatically in the indicator? I know I can
ask for user input each time but I'd like to avoid that.
Also I realise that doing Close / LLV(Low,156) means the close is
actually today's close when plotted on daily data. Is there some way
I could force it to use the weekly close value in an inner-window
while still displaying the daily price chart in the upper window?
Alternatively can anyone suggest a generic dynamic normalising calc
that works to scale pretty much any calculated indicator data between
0 - 100% using a rolling lets say 3 year time period across all data
time frames (i.e. D, W, M)
Thanks
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