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Bull Fear and Bear Fear Expert for Metastock
parker
over 9 years ago
Metastock

Rating:
0 / 5 (Votes 0)
Tags:
metastock, expert

In Walter Downs’ article “From Terms To Technical Tools” he introduces the Point of Balance Oscillator, two conditions to color bars and two system tests. All of these can be created quite easily in MetaStock 6.5.

To highlight bars based on the Bull Fear and Bear Fear conditions discussed in the article, choose Expert Advisor from the Tools menu, click on the New button and enter the following expert.

Author: Walter Downs

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Indicator / Formula

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HIGHLIGHTS

Name: Bull Fear
Color: Blue
Condition:

n := 12 {Time periods};
BullFear := (HHV(HIGH,n) - LLV(HIGH,n))/2 + LLV(HIGH,n);
CLOSE > BullFear


Name: Bear Fear
Color: Red
Condition:

n := 12 {Time periods};
BearFear := (HHV(LOW,n) - LLV(LOW,n))/2 + LLV(LOW,n);
CLOSE < BearFear

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