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#1 Posted : Thursday, May 30, 2019 3:44:33 PM(UTC)

Rank: Advanced Member

Groups: Registered, Registered Users, Unverified Users
Joined: 10/16/2009(UTC)
Posts: 34

Hello everyone,

i found in a financial blog the formula for this indicator very useful to identify trends.It sound like Supertrend but it's slightly different.

Cold someone help me to translate it in metastock language?

Thank you in advance:

Var: VolaPer(2.2), Vola1(21), Vola2(10);

Var: HClose(-99999), LClose(99999), IndZona1, Value1(0), Value2, Ematrend, IdOggCross, vol(0), colore, Value2new(0);

vol = stddev(a, Vola1); Value1 = Op(constval(Volaper), Vol, Mul); HClose = IIF(C > HClose, C, HClose);  LClose = IIF(C < LClose, C, LClose);

If (Value2 = 0) and (CurrentBar <= 1) then Value2 = HClose - Value1 - ATR(C, Vola2); endif;

If (C < Value2) then Value2new = LClose + Value1 + ATR(C, Vola2); HClose = C; entershort(nextbar, atopen); Endif;

If (C > Value2) then Value2new = HClose - Value1 - ATR(C, Vola2); LClose = C; enterlong(nextbar, atopen); Endif;

Value2 = Value2new;

Indzona1 = CreateViewport(400, true, true); If (CurrentBar > 1) Then Ematrend = Value2[1]; PlotChart(Ematrend, 0, lime, solid, 2); endif;

if crossover(C, EMAtrend) Then colorbar(blue); IdOggCross = DrawText(IdOggCross, 0, D, H, "Bullish", C, green, 8, 1+4, 1); Endif;

if crossunder(C, EMAtrend) Then colorbar(maroon); IdOggCross = DrawText(IdOggCross, 0, D, H, "Bearish", C, red, 8, 1+4, 1); Endif;

If positiondir = 0 then colore = yellow; elseIf positiondir = 1 then colore = blue; elseif positiondir = -1 then colore = red; endif;

PlotChart(PositionDir, Indzona1, colore, solid, 2);

Edited by moderator Friday, May 31, 2019 3:09:46 PM(UTC)  | Reason: Cleaned up code formatting to make it easier to read

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