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Price Band Metastock Formula for Metastock
johnny11
over 11 years ago
Metastock

Rating:
5 / 5 (Votes 1)
Tags:
metastock, bands

Here is a simple Metastock formula to generate a price band. Price closing above upper band is considered bullish and price closing below bottom band is considered bearish.

Please give credit to the developer “ASISH” from KOlkata.

Found this at the net.

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Indicator / Formula

Copy & Paste Friendly
b:= Input("Rs Stop",1,100,15);
k:= Input("O H L C ",1,4,4);
{For 30mins Nifty Fut 15 points is default,Lower the Time frame this would be Lower }
K:= If(k=1,O,If(k=2,H,If(k=3,L,If(k=4,C,C))));
a:= 30;
S1:=Sin(1*a)*K;
S2:=Sin(2*a)*Ref(K,-1);
S3:=Sin(3*a)*Ref(K,-2);
S4:=Sin(4*a)*Ref(K,-3);
S5:=Sin(5*a)*Ref(K,-4);
Num:=S1+S2+S3+S4+S5;
Den:=Sin(a)+Sin(2*a)+Sin(3*a)+Sin(4*a)+Sin(5*a);
j1:= Num/Den;
K1:= H;
S11:=Sin(1*a)*K1;
S21:=Sin(2*a)*Ref(K1,-1);
S31:=Sin(3*a)*Ref(K1,-2);
S41:=Sin(4*a)*Ref(K1,-3);
S51:=Sin(5*a)*Ref(K1,-4);
Num1:=S11+S21+S31+S41+S51;
j11:= Num1/Den;
j11+b;{Initial Stop for Short}
j11;
j1;
j1-b;{Initial Stop for Long}

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