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Does anyone know if there is a formula created for finding a stock trading in a channel or trading range? I looked thru the fornula collection but I didn't see one maybe someone can point me in the right direction please?
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Hi Dieselpr,
You need to give us more specific data ... How do you calculate your range and that kinda of of stuff. The more details you give us the more chances you will get exactly what you need ...
Patrick :mrgreen:
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... and do you want the channel center based on a moving average, statistical average, linear regresseion model etc. The channel width can be based on standard deviations, deviations, % width, volatility % width or fixed price width etc.
Just on these two paramters alone there are 15 possible combinations of channel to code... wanna help out by narrowing it down a little? LOL
Depending on your needs and level, it is possible to have user options in the code, but it makes the code more complicated in the first place. You might prefer simpler code first, then progress to something a little more complicated.
In the mean time - have a look in your manual for the Envelope() function.
wabbit :D
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Rank: Advanced Member
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Thanks Wabbit and Pat,
I was only looking to take a look at some simple formulas for channels between support and resistence. I never thought how little information I gave on my request. I'll take another look at the manual first so I can better explain what it is I'm looking for and maybe post a jpeg later. Thanks
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Rank: Advanced Member
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wabbit,
The Envelope() function sounds like what I'm looking for but there not much detail about the function in either the manual or the formula book. How would you call it out to be used in a metastock formula "Envelope() "? Its not clear how its called out in formulas.
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A1:=Sum((O+H+L+C),6)/24;
A2:=Sum((O+H+L+C),30)/120;
A3:=Sum((O+H+L+C),127)/508;
Coef:=Input("Percent",.001,5,.01);
UC10:=A2+(A2*(Coef*10));
LC10:=A2-(A2*(Coef*10));
Ref(A1,-1);A1;Ref(A2,-1);A2;Ref(A3,-2);A3;UC10;
LC10;
This indicator plots 8 Lines on a Daily Chart
Ref(A1,-1) and A1 are a 6 period sum of the OHLC
Ref(A2,-1) and A2 are a 6 period sum of the OHLC from a Weekly Bias
Plotted on a daily Chart
Ref(A3,-1) and A3 are a 6 period sum of the OHLC from a Monthly Bias
Plotted on a daily Chart
UC10 and LC10 are 10% bands of A2, They are intended to capture 95% of the prices.
You can use the crossing of A1 and Ref(A1,-1) for short term signals,
Look for support from A2 and LC10 and resistance from A2 and UC10
Trade in the direction of A2 and A3
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