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Hi,
Does anybody know how to put this code in metastock exploration
Please help
Regards,
Krishna
k_krishna79@xxxxxxxxxxx
--- In equismetastock@xxxxxxxxxxxxxxx, Chandan Seal
<chandan.seal@xxx> wrote:
>
> Hi Everybody,
>
> This is Dan and I am looking for an exploration formula for ELDER
TRIPLE SCREEN SCAN. I have an Exploration formula for Amibroker and I
would be really grateful if somebody can convert it to Metastock
language. The formula is given below.
>
> Thanks in advance.
>
> // Elder Triple Screen Trading System.
> // Coded by Dennis Skoblar 7/05/2005.
> // Derrived from "Trading For A Living" and "Come Into My Trading
Room" by Alexander Elder.
>
> // This scan finds candidates by the Weekly MACD Historgam slope,
and the Daily 2 Period Force Index dipping above or below it's Zero
Line. Plot a Weekly 26 Period EMA to
> // help confirm the weekly direction. It should be rising along
with an uptick on the Weekly MACD Histogram to go long. However,
Elder writes that divergences in the MACD
> // Histogram override the EMA. The Daily 2 Period Force Index will
be below it's Zero Line. Look for the stock to pullback to around
it's Daily 13 Period EMA. Also use the
> // Daily 22 Period EMA to confirm the direction of the daily trend.
Do the opposite for shorts. Use the Long/Short EMA Weekly Direction
Tabs as filters to cull through the
> // scan to only display the Weekly EMA going in the intended
trading direction. Use the Long/Short Elder Ray Tabs (BullPower AND
BearPower) to fine tune the entry signals.
> // This tab is best used when in agreement with the Long/Short EMA
Weekly Direction Tabs. A 50 Period EMA > 100000 is used to Filter
Volume. A minimum of a 5 point run in
> // one Month is used as a Filter for a stock's range. This scan is
best used as an Exploration.
>
> TimeFrameSet( inWeekly );
> WeeklyMACD = MACD(12,26) - Signal(12,26,9);
> WeekHistRising = Ref(WeeklyMACD, -1) < Ref(WeeklyMACD, 0);
> WeekHistFalling = Ref(WeeklyMACD, -1) > Ref(WeeklyMACD, 0);
> FIWeekly = EMA(V*(C-Ref(C,-1)),13);
> WeeklyForceIndexLong = FIWeekly > 0;
> WeeklyForceIndexShort = FIWeekly < 0;
> TimeFrameRestore();
>
> // Weekly criteria
> MACDLongW = WeekHistRising;
> MACDShortW= WeekHistFalling;
> FILongW = WeeklyForceIndexLong;
> FIShortW = WeeklyForceIndexShort;
>
> // Daily criteria
> FIDaily = EMA(V*(C-Ref(C,-1)),2);
> FILongD = FIDaily < 0;
> FIShortD = FIDaily > 0;
> VFilter = EMA(V,50) > 100000;
> TenTwentyFilter = HHV(H,20)-LLV(L,20); // How much price has gone
in one month (>=10 points preferable)
> FiftyDayHVFilter = round(StDev(log(C/Ref(C,-1)),50)*100*sqrt
(256)); // One year volotility (>=40 preferable)
> Bullpower= High - EMA(Close,13);
> Bearpower= Low - EMA(Close,13);
>
> // Scan criteria
> ElderLong = MACDLongW AND FILongD AND FILongW;
> ElderShort = MACDShortW AND FIShortD AND FIShortW;
>
> // Columns for exploration
>
> NumColumns = 12;
>
> Column0 = FullName();
> Column0Name = "Ticker name";
>
> Column1 = " ";
> Column1Name =" ";
>
> Column2 = ElderLong;
> Column2Name = "Long";
>
> Column3 = ElderLong AND EMA(C,130) > Ref(EMA(C,130),-5);
> Column3Name = "Long EMA Weekly Direction";
>
> Column4 = Column3 AND (bearpower < 0 AND bullpower > 0);
> Column4Name = "Long Elder Ray Filter";
>
> Column5 = " ";
> Column5Name =" ";
>
> Column6 = ElderShort;
> Column6Name = "Short";
>
> Column7 = ElderShort AND EMA(C,130) < Ref(EMA(C,130),-5);
> Column7Name = "Short EMA Weekly Direction";
>
> Column8 = Column7 AND (bearpower < 0 AND bullpower > 0);
> Column8Name = "Short Elder Ray Filter";
>
> Column9 = " ";
> Column9Name =" ";
>
> Column10 = TenTwentyFilter;
> Column10Name = "One Month Point Range";
>
> Column11 = FiftyDayHVFilter;
> Column11Name = "Historical Volotility 50 Day";
>
> AddTextColumn( IndustryID(1), "Industry" );
>
> AddTextColumn( MarketID(1), "Market" );
>
> // Filters
> Filter = VFilter AND (ElderLong OR ElderShort);
> Buy = ElderLong;
> Sell = 0;
> Short = ElderShort;
> Cover = 0;
>
>
>
> ---------------------------------
> Got a little couch potato?
> Check out fun summer activities for kids.
>
> [Non-text portions of this message have been removed]
>
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