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Buy/Sell and Dir. Mov. Equalized by David Fennick for Metastock
mich3
over 10 years ago
Metastock

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

I call this formula “Buy/Sell and Dir. Mov. Equalized”. This formula comes from the components of two other Indicators in found in Metastock – The Demand Index and the Directional Movement Indicator, or ADX. Fortunately, Metastock offers isolated components of each of these two so they can be plotted individually or combined with others.

I do not trade off the signal generated by this indicator alone. It crosses the Zero line too often for my liking. Rather, I plot a seperate Price Osc. on top of it and use the signal generated by that Osc

Author: David Fennick : davidf2/at/mindspring/dot/com

Indicator / Formula

Copy & Paste Friendly
p1:=Input("Shorter Mov.Avg.",0,200,12);
p2:=Input("Longer Mov.Avg.",0,200,26);

Mov(P,p1,E)-Mov(P,p2,E)
Copy & Paste Friendly
p1:=Input("Buy Pressure and Sell Pressure %",0,100,50);
p2:=Input("Positive/Negative Price Movement %",0,100,50);

(BuyP()/(BuyP()+SellP())-0.5)*100*(p1/100) + (PDI(21)/(PDI(21)+MDI(21))-0.5)*100*(p2/100) 

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