Stock Portfolio Organizer

The ultimate porfolio management solution.

Shares, Margin, CFD's, Futures and Forex
EOD and Realtime
Dividends and Trust Distributions
And Much More ....
For Portfolio Manager Click Here

WiseTrader Toolbox

#1 Selling Amibroker Plugin featuring:

Advanced Adaptive Indicators
Advanced Pattern Exploration
Neural Networks
And Much More ....
Find Out More Here

Automatic Support and Resistance for Metastock
free88x
about 14 years ago
Metastock

Rating:
5 / 5 (Votes 1)
Tags:
metastock, support, resistance

Automatic Support and Resistance

Copied from Technical Analysis of Stocks and Commodities Magazine. This is in regards to an article on page 51 of the May 1998 issue.
In my article “Automatic support and resistance” in this issue, I present a computerized approach to finding support and resistance levels on a chart. To recreate the indicators and system described in my article using MetaStock for Windows, enter the following formulas:

Similar Indicators / Formulas

O.B.V. Good example of if() func
Submitted by karim.chakib about 10 years ago
Ortalama fiyat degiskenligi gostergesi
Submitted by tasma almost 12 years ago
Adaptive Wilders Smoothing
Submitted by aashish51 about 12 years ago
Cycle Indicator by Bill Irwin
Submitted by roszyk about 13 years ago
Flat Market Indicator (FMI)
Submitted by chsmcp about 11 years ago
BPDL Trend Filter Oscillator
Submitted by chsmcp about 11 years ago

Indicator / Formula

Copy & Paste Friendly
{Indicators:}
S1: IF(Ref(LOW,-4)=LLV(LOW,9),Ref(LOW,-4),PREVIOUS)
S2: IF(Fml("S1")=Ref(Fml("S1"),-1),PREVIOUS,Ref(Fml("S1"),-1))
S3: IF(Fml("S1")=Ref(Fml("S1"),-1),PREVIOUS,Ref(Fml("S2"),-1))
S4: IF(Fml("S1")=Ref(Fml("S1"),-1),PREVIOUS,Ref(Fml("S3"),-1))
S5: IF(Fml("S1")=Ref(Fml("S1"),-1),PREVIOUS,Ref(Fml("S4"),-1))
S6: IF(Fml("S1")=Ref(Fml("S1"),-1),PREVIOUS,Ref(Fml("S5"),-1))

WSO: 100*(1­(Int(Fml("S1")/CLOSE)+Int(Fml("S2")/CLOSE)+Int(Fml("S3")/CLOSE)+Int(Fml("S4")/CLOSE) +Int(Fml("S5")/CLOSE)+Int(Fml("S6")/CLOSE))/6)

R1: IF(Ref(HIGH,-4)=HHV(HIGH,9),Ref(HIGH,-4),PREVIOUS)
R2: IF(Fml("R1")=Ref(Fml("R1"),-1),PREVIOUS,Ref(Fml("R1"),-1))
R3: IF(Fml("R1")=Ref(Fml("R1"),-1),PREVIOUS,Ref(Fml("R2"),-1))
R4: IF(Fml("R1")=Ref(Fml("R1"),-1),PREVIOUS,Ref(Fml("R3"),-1))
R5: IF(Fml("R1")=Ref(Fml("R1"),-1),PREVIOUS,Ref(Fml("R4"),-1))
R6: IF(Fml("R1")=Ref(Fml("R1"),-1),PREVIOUS,Ref(Fml("R5"),-1))

WRO: 100*(1­(Int(Fml("R1")/CLOSE)+Int(Fml("R2")/CLOSE) +Int(Fml("R3")/CLOSE)+Int(Fml("R4")/CLOSE) +Int(Fml("R5")/CLOSE)+Int(Fml("R6")/CLOSE))/6)

{The indicators S1 through S6 and R1 through R6 should be plotted as points and not as a continuous line.

Trading System Formulas and Parameters: Enter long positions on either building support or sustained uptrend and exit position using stops. No short positions.}

Enter Long: Fml("WSO") > Mov( Fml("WSO") , 4 , S ) OR Mov( Fml("WRO") , 30 , S ) > 95

{Stop Out:

Breakeven stop: Floor level at 2%

Trailing stop: Profit risk of 10 Percent, ignoring 10 periods

Maximum loss stop: Maximum loss of 7%

Other Conditions:

Initial equity = 1000, Long positions only, Trade price = close, Trade delay = 0, Entry commission = 0%, Exit commission = 0%, , Interest rate = 5%, Margin req. 100%}

3 comments

1. villageidiot3

Hi,
Getting error message while trying to paste in Metastock Indicator Editor. Kindly recheck and submit with corrections.
Thanks in advance,
Jk.

2. administrator

Each S1:, WSO:, R1: etc is a separate indicator and needs to be put in its own indicator builder.

3. kh26sa

Getting error message

Leave Comment

Please login here to leave a comment.

Back