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Indicator formulation required for Projecting range
Rank: Advanced Member
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Joined: 3/9/2007(UTC)
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Hello fellow traders,
I have come up with a formula to project the expected range for the subsequent trading day, but am unable to make indicator for the same.
Following is the requirement which i'm looking for:
If C>O, 3H + 2L + C = X
If C
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Rank: Advanced Member
Groups: Registered, Registered Users, Unverified Users
Joined: 3/9/2007(UTC)
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IMPORTANT:
I do not know why the 3 cases are not shown in above msg despite it was perfect at the time of creating this thread..and am unable to edit my original msg... please find the 3 case below.. [i hope this time it shows].....
{C > O then X = 3H + 2L + C}.........{C < O then X = 2H + 3L + C}.......{C = O then X = 1.5*H + 1.5*L + 3C}
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Rank: Advanced Member
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Joined: 10/29/2004(UTC)
Posts: 1,394
Location: Glastonbury, CT
Was thanked: 2 time(s) in 2 post(s)
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X:=If(C>O,(3*H+2*L+C),
If(C<O,(2*H+3*L+C),
(1.5*H+1.5*L+3*C)));
PH:=(X/3)-L;
PL:=(X/3)-H;
Ref(PH,-1);Ref(PL,-1);PH;PL;
Metastock will not project past the last bar shown!
Ref(PH,-1) and Ref(PL,-1) are values from the previous day
PH and PL are the values for the current bar
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Rank: Advanced Member
Groups: Registered, Registered Users, Unverified Users
Joined: 3/9/2007(UTC)
Posts: 35
Thanks: 1 times
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Thanks for putting your time.. and am feeling vexed on the fact that Metastock doesn't project past the last bar show...
But can you review once again your posting... i think some error just like in case of mine must have occurred... i mean to say that in your coding i cant see the 3rd case, viz. If C=O... though the second part is there...just clarify me on the same... i'm failing to modify your code by prefixing C=O.. its showing some kind of unexpected error...
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Rank: Advanced Member
Groups: Registered, Registered Users, Subscribers
Joined: 10/29/2004(UTC)
Posts: 1,394
Location: Glastonbury, CT
Was thanked: 2 time(s) in 2 post(s)
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Trust me, it's in there!!!
X:=If(C>O,(3*H+2*L+C),
If(C<O,(2*H+3*L+C),
(1.5*H+1.5*L+3*C)));
PH:=(X/3)-L;
PL:=(X/3)-H;
Ref(PH,-1);Ref(PL,-1);PH;PL;
there are only 3 possible outcomes 1: Close is greater than Open 2;Close is less than the Open and 3: Close is equal to the Open
now lets look at the code of X: the first line states condition 1,{result}, {else},the second line states condition 2{result},{else},in the third line condition 3 does not have to be mentioned,just the result!!!
Ref(PH,-1)and Ref(PL,-1) are the values projected 1 day ahead and how they would plot in actual trading
PH and PL are the values plotted on the last bar that you would use for the next bar
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Rank: Advanced Member
Groups: Registered, Registered Users, Unverified Users
Joined: 3/9/2007(UTC)
Posts: 35
Thanks: 1 times
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Oops!.. sorry!.. now i got your point...
And there is all reason to trust you for i understand you are quite senior in codification.. :D... Thanks for all help and explanation you have provided me...
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Indicator formulation required for Projecting range
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