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Sunil,
Please reread my original post.
Before we get into an exploration you need to determine if the
high-low is really what you want.
The other day we got into a discussion about normalized
indicators. I introduced a normalizing/indexing formula which is:
{Normalized Indicator}
Ind:= {your indicator here};
Npds:=Input("periods to normalize",
1,500,48);
Norm:=(Ind-LLV(Ind,Npds))
/(HHV(Ind,Npds)
-LLV(Ind,Npds)
+.0000001)*100;
Norm{end}
If I use IND:= high-low; for the indicator what I get is a chart
that really has little value. During an uptrend for instance the
range between the high and low will decrease. Thus if I were
looking for signals I wouldn't get them.
Therefore your indicator would be:
{Sunil's Normalized Indicator}
Ind:= high-low;
Npds:=Input("periods to normalize",
1,500,4);
Norm:=(Ind-LLV(Ind,Npds))
/(HHV(Ind,Npds)
-LLV(Ind,Npds)
+.0000001)*100;
Norm{end}
If you plot as an indicator in its own window on a chart I believe
you will see what you are looking for. Zones will be the values that
you determine...0 to 30, 30 to 70, and 70 to 90.
If this is not what you want please give me some more guidance. Maybe
an internet example.
Preston
--- In equismetastock@xxxxxxxxxxxxxxx, "SUNIL gupta"
<sunilgupta72@xxx> wrote:
>
> DEar SIr,
>
> I am not bieng able to put the formula in MEtastock Explorer. Maybe
i am not
> bieng able to explain properly. Let me explain with example:-
>
> Supposing on Monday share x was :- High=100 low= 80
> Tuesday High=102 low=89
> Wednesday High=95 Low 75
> Thursday High = 90 low=85
>
> Now if u look carefully thursday has been lowest trading range for
the Share
> X i.e HIGH MINUS LOW. so I want to explore such shares which on a
particular
> day has been in lowest zone or lets say in very tight range than the
> previous three days.
>
> I hope it is clear now. Thanks for your help.
>
> Sunil
>
>
> On 5/28/07, pumrysh <no_reply@xxxxxxxxxxxxxxx> wrote:
> >
> > Sunil,
> >
> > Here is the trading range formula:
> >
> > {TRUE RANGE FORMULA}
> > TR:= (H-L+Abs(H-Ref(C,-1))+Abs(L-Ref(C,-1)))/2;
> >
> > To find the lowest value in four days use:
> >
> > LLV(TR,4);
> >
> > Good luck,
> >
> > Preston
> >
> > --- In equismetastock@xxxxxxxxxxxxxxx <equismetastock%
40yahoogroups.com>,
> > "SUNIL gupta"
> > <sunilgupta72@> wrote:
> > >
> > > Dear Preston,
> > >
> > > Thanks for the Help but what i really need is to find out the
> > lowest trading
> > > range in last four trading sessions i.e. Three sessions and the
> > fourth day.
> > > What i belive is that after the lowest range in 3+1 day stocks
> > tend to give
> > > a explosive ,move upside or downside and hence i need to find a
> > explorer for
> > > such kind of stocks.
> > >
> > > Sunil Gupta
> > >
> > >
> > > On 5/27/07, pumrysh <no_reply@xxxxxxxxxxxxxxx<no_reply%
40yahoogroups.com>>
> > wrote:
> > > >
> > > > Sunil,
> > > >
> > > > Before we get into an exploration you need to determine if the
> > high-
> > > > low is really what you want.
> > > >
> > > > The other day we got into a discussion about normalized
> > indicators.
> > > > I introduced a normalizing/indexing formula which is:
> > > >
> > > > {Normalized Indicator}
> > > > Ind:= {your indicator here};
> > > > Npds:=Input("periods to normalize",
> > > > 1,500,48);
> > > > Norm:=(Ind-LLV(Ind,Npds))
> > > > /(HHV(Ind,Npds)
> > > > -LLV(Ind,Npds)
> > > > +.0000001)*100;
> > > > Norm{end}
> > > >
> > > > If I use IND:= high-low; for the indicator what I get is a
chart
> > > > that really has little value. During an uptrend for instance
the
> > > > range between the high and low will decrease. Thus if I were
> > looking
> > > > for signals I wouldn't get them.
> > > >
> > > > If on the other hand I changed the formula and used IND:=
close;
> > > > what I will get is an indicator that is much truer to the real
> > trend.
> > > >
> > > > Notice that the value of NORM is determined by indexing the
> > highest
> > > > high values and the lowest low values of the indicator over a
> > period
> > > > of time. That value can easily be changed from 48 to either 3
or
> > 4.
> > > >
> > > > In an exploration you must lock the values that are normally
> > inputed
> > > > in an indicator. Thus you would need to change the exploration
> > > > formula to:
> > > >
> > > > {Normalized Indicator for exploration}
> > > > Ind:= close;
> > > > Npds:= 4;
> > > > Norm:=(Ind-LLV(Ind,Npds))
> > > > /(HHV(Ind,Npds)-
> > > > LLV(Ind,Npds)+.0000001)*100;
> > > > Norm
> > > >
> > > > I think you will find that 4 is a bit too sensitive and a
better
> > > > alternative will be something greater than 5 which is a weeks
> > worth
> > > > of trading. Think of this value as a lookback period for a
moving
> > > > average. Would you really want to use something less than 5
which
> > > > would result in a lot of whipsaws.
> > > >
> > > > Now that you are indexed or normalized it is much easier to
> > > > successfully trade simply by looking for values greater than
or
> > less
> > > > than 50 or whatever value you determine as your entry/exit
> > points.
> > > >
> > > > Once you have determined those values you could simply put the
> > > > indicator in column A and filter with column B being >50 and
> > column
> > > > C as <50 .
> > > >
> > > > Hope this helps,
> > > >
> > > > Preston
> > > >
> > > > --- In equismetastock@xxxxxxxxxxxxxxx<equismetastock%
40yahoogroups.com><equismetastock%
> > 40yahoogroups.com>,
> > > > "SUNIL gupta"
> > > > <sunilgupta72@> wrote:
> > > > >
> > > > > Dear Friends,
> > > > >
> > > > > I am new to metastock. Please can anyone help me with
composing
> > > > formula for
> > > > > explorer for finding out which shares have been in lowest
> > trading
> > > > range of
> > > > > last four days. I mean that day X's Trading range (high-low)
> > > > should be
> > > > > lowest of the last three trading seesions.
> > > > > --
> > > > > Sunil Gupta
> > > > >
> > > > >
> > > > > [Non-text portions of this message have been removed]
> > > > >
> > > >
> > > >
> > > >
> > >
> > >
> > >
> > > --
> > > Sunil Gupta
> > >
> > >
> > > [Non-text portions of this message have been removed]
> > >
> >
> >
> >
>
>
>
> --
> Sunil Gupta
>
>
> [Non-text portions of this message have been removed]
>
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