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Bull and Bear Balance Indicator for Metastock
kaiji
over 9 years ago
Metastock

Rating:
5 / 5 (Votes 2)
Tags:
oscillator, metastock

Vadim Gimelfarb’s article in the issue of Stocks and Commodities Magazine, “Bull And Bear Balance Indicator,” references a histogram created by subtracting his bear power indicator from his bull power indicator. The result is then smoothed by a 30-period average. The following formula will reproduce that histogram.

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Indicator / Formula

Copy & Paste Friendly
r1:=If(Ref(C,-1)<O,Max(O-Ref(C,-1),H-L),H-L);
r2:=If(Ref(C,-1)>O,Max(Ref(C,-1)-O,H-L),H-L);
bull:=If(C=O,
If(H-C=C-L,
If(Ref(C,-1)>O,
  Max(H-O,C-L),
  r1),
If(H-C>C-L,
If(Ref(C,-1)<O,
  Max(H-Ref(C,-1),C-L),
  H-O),
  r1)),
If(C<O,
If(Ref(C,-1)<O,
  Max(H-Ref(C,-1),C-L),
  Max(H-O,C-L)),
  r1));
bear:=If(C=O,
If(H-C=C-L,
If(Ref(C,-1)<O,
  Max(O-L,H-C),
  r2),
If(H-C>C-L,
  r2,
If(Ref(C,-1)>O,
  Max(Ref(C,-1)-L,H-C),
  O-L))),
If(C<O,
  r2,
If(Ref(C,-1)>O,
  Max(Ref(C,-1)-L,H-C),
  Max(O-L,H-C))));
Mov(bull-bear,30,S)

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