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Alfred Francois’ article, “Trend Identification by Price and Time Filtering”, introduced his Price-Time Filtering indicator. Here are three formulas to add that indicator to MetaStock.
Price & Time Filter (Monthly on Daily): Code:{a monthly Price & Time Filter calculated on daily data}
{expects to be plotted on a daily chart}
new:= ROC(DayOfMonth(),1,$)<1;
mhi:= HighestSince(1, new, H);
mlo:= LowestSince(1, new, L);
up:= new AND C > Ref(mhi, -1);
dn:= new AND C < Ref(mlo, -1);
trend:= If( up, Max(1, PREV+1), If(dn, Min(-1, PREV-1),
If(new, If(PREV>0, PREV+1, PREV-1), PREV)));
If(trend>0, trend, 0);
If(trend<0, trend, 0)
Price & Time Filter (Weekly on Daily): Code:{a weekly Price & Time Filter calculated on daily data}
{expects to be plotted on a daily chart}
fri:= DayOfWeek() = 5;
new:= ROC(DayOfWeek(),1,$)<1;
recalc:= fri OR (new AND Ref(fri=0, -1));
hi:= HighestSince(1, new, H);
lo:= LowestSince(1, new, L);
whi:= If(fri, hi, Ref(hi, -1));
wlo:= If(fri, lo, Ref(lo, -1));
up:= recalc AND C > Ref(whi, -1);
dn:= recalc AND C < Ref(wlo, -1);
trend:= If( up, Max(1, PREV+1), If(dn, Min(-1, PREV-1),
If(recalc, If(PREV>0, PREV+1, PREV-1), PREV)));
If(trend>0, trend, 0);
If(trend<0, trend, 0)
Price & Time Filter (native): Code:{calculates the Price & Time Filter on the data interval of the chart}
up:= C > Ref(H, -1);
dn:= C < Ref(L, -1);
trend:= If( up, Max(1, PREV+1), If(dn, Min(-1, PREV-1), If(PREV>0, PREV+1, PREV-1)));
If(trend>0, trend, 0);
If(trend<0, trend, 0)
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