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You can copy these formulas and programs for easy use in your spreadsheet or analysis software. Simply "select" the desired text by highlighting as you would in any word processing program, then use your standard key command for copy or choose "copy" from the browser menu. The copied text can then be "pasted" into any open spreadsheet or other software by selecting an insertion point and executing a paste command. By toggling back and forth between an application window and the open Web page, data can be transferred with ease.
This month's tips include formulas and programs for:
METASTOCK INVESTOR/RT WAVEWI$E MARKET SPREADSHEET or return to April 2000 Contents
GO BACKMetaStock's Expert Advisor, in version 6.5 or higher, is a collection of powerful tools that keep you informed of the current technical state of a chart. When attached to a chart, an Expert keeps you informed of the state of these conditions by various methods:
METASTOCK
An expert can be as simple or as complex as you like. For example, you can create a very simple expert that sounds an alert whenever the close crosses above its 30-day moving average. Another expert could be written to display a ribbon at the bottom of the chart showing the bullish and bearish zones as defined by a relative strength index (RSI). You could write an expert that generates a commentary explaining the current state of the security as defined by five of your favorite indicators. You could also write an expert that colors the price bars according to an overbought or oversold stochastic. Numerous possibilities are available.
- Descriptive text (called commentaries)
- Colored bars (called highlights)
- A symbol in the bottom corner of the chart (called the Expert Corner)
- A special inner window (called a ribbon)
- Symbols on the chart (called symbols)
- Pop-up messages, sound or video, and in Professional versions, E-mail and pager
- Messages (with alerts)
To run the Expert Advisor, choose Expert Advisor from the Tools menu or click the Expert Advisor button on the standard toolbar. Once the Expert Advisor dialog is open, you can choose to attach or detach an expert to a chart, edit an existing expert, or choose to create a new expert.
To create a new expert, choose New from the Expert Advisor dialog. The Expert Editor dialog appears. This dialog is used to create the various components of an expert. Remember that an expert does not need to contain every component. The only requirements are the name and one of the five components. These components are described as follows:
Name. Enter the name of the expert in the Name box. Enter any unique information about the expert in the Notes box.Trend. Enter the Bullish and Bearish trend rules using MetaStock's formula language. The rules are interpreted as either true or false. The results of the trend rules are displayed in a ribbon, the expert corner, or in the Data Window.
Commentary. Enter the commentary to display. Commentaries tell you in plain language the technical state of the security. There are two special functions and five constants available specifically for writing commentaries. The built-in editor also has a basic word-processor-like toolbar that allows you to control fonts and formatting. The results of the commentary are displayed in the Expert Commentary dialog.
Highlights. The Highlights page is used to create and edit highlights. A highlight colors a chart's price bars to indicate specific conditions. An unlimited number of highlights can be defined for an expert.
Symbols. The Symbols page is used to create and edit symbols. A symbol can be placed above or below price bars to indicate specific conditions. An unlimited number of symbols can be defined for an expert.
Alerts. The Alerts page is used to create and edit alerts. When the defined conditions of the alert are met, a specified message will appear, or a sound file or video will play. In Professional versions, alerts can notify you via email or pager. An unlimited number of alerts can be defined for an expert.
FIGURE 1: Here's an analysis of Microsoft [MSFT] from MetaStock's Expert Advisor. To create or modify an Expert Advisor in MetaStock, input information in at least two of five possible components using MetaStock's dialogs.
The chart in Figure 1 is a sample Expert containing all the components.To get an idea of the type of formulas used in creating experts, open one of the experts that come prepackaged with MetaStock. Choose Expert Advisor from the Tools menu, select one of the default experts, select Edit, and browse through its components.
--Cheryl Elton, Equis Internationalhttps://www.equis.com
GO BACKOpening gap trades are well documented as an early trading opportunity in trending markets. There are a number of reasons for this, not the least of which is the effect of profit-taking after a prolonged move into the previous close.
In stock or futures markets, an early indication for an abundance of sell orders can cause the opening call to be lower than the previous closing price. After the market opens and demand begins to absorb these sell orders, however, the market will close the gap and resume trading in the direction of the trend.
FIGURE 2: INVESTOR/RT. Here's a scan expression that can be used in Investor/RT software for identifying early gap-trading opportunities.
Here is a description of a scan expression that can be used in Investor/RT software for identifying these early gap trades. Look at the gap trade from the long side and use current price moving above the previous closing price as a confirmation signal that trade has resumed in the direction of the trend.
(OP < CL1) AND (CL > CL1) AND (CL > MA) AND (DIPLUS > DIMINUS) AND (DIPLUS > 30)
where:OP is the day's opening price
CL is the current price
CL1 the closing price one period (day) ago
MA is the 21-day simple moving average
DIPLUS is the 9-day positive directional movement (DI+)
DIMINUS is the 9-day negative directional movement (DI-).Filter for an uptrend in combination with the closing of the gap by requiring that the current price is above its 21-day moving average and that DI+ is greater than 30 and also greater than DI-.
To set up your scan:
1 Select the values you wish to relate in the scan from the list of tokens.
2 Use the center arrow buttons to create a list of the tokens on the right.
3 Write your scan expression.
4 Select the quote page you wish to filter for the opening gap trade.
5 Select "daily" as your data periodicity.
6 Press the Auto Scan button and set the scan to run every 30 seconds.
You may wish to vary the run time for your Auto Scan according to your computer capability and the number of the symbols in your list. This scan run against the 500 stocks in the S&P 500 takes about five seconds on a 200 Mhz Pentium with 64 MB of RAM.If the market moves one tick above the previous close and sellers take it back down below that price, do not take the trade. Use the previous close as a signal confirmation and only enter the trade above that price.
After you are in the trade, a stop can be placed a couple of ticks below the current day's opening price. If the market continues to move in your favor, move the stop up to the previous day's close.
--Eric Hynniman, Linn Software800 546-6842, 404 733-5733
sales@linnsoft.com, www.linnsoft.com
GO BACKThese WAVE WI$E formulas show how to quickly compute the yearly high and low for any datafile.
A: DATE @TC2000(C:\TC2000\DATA,SP-500,STANDARD & POORS 500,DB) B: HIGH C: LOW D: CLOSE E: OPEN F: VOL G: AskYear @INPUT(ENTER 4 DIGIT YEAR,2000,1) ÔAsk user for desired year H: YrDates @IF(@YEAR(DATE)=ASKYEAR,DATE) ÔGet all dates for year I: YrHighs @IF(@YEAR(DATE)=ASKYEAR,HIGH) ÔGet high prices for year J: YrLows @IF(@YEAR(DATE)=ASKYEAR,LOW) ÔGet low prices for year K: High4Yr @MAXC(YRHIGHS) ÔGet highest high for year L: Low4Yr @MINC(YRLOWS) ÔGet lowest low for year ==========End Formulas--Peter Di Girolamo, Jerome Technology908 369-7503, E-mail: jtiware@aol.com
https://members.aol.com/jtiware
