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Wanted to create an indicator which calculate a 10 days average of the MACD() on monday. For example, today is monday and the indicator would plot the 10 days average of the MACD() value on the previous 10 mondays.
Tried the following but result plot continue to other day (Should remain zero for other days) (Plot on monday)
MD:=if(Dayofweek()=1,MACD(),0);
Mov(MD,10,S)
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Rank: Advanced Member
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Joined: 10/28/2004(UTC)
Posts: 110
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Flexi,
Try this:
MD:=Mov(MACD(),10,S);
if(Dayofweek()=1,MD,0);
Hope this helps,
Preston
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Rank: Advanced Member
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Hi Preston,
The code does not give what is intended. The idea is taking the MACD() values on only 10 previous monday and divided by 10. Only MACD() values on moday are considered and averaged. Plot this average on the monday.
The code average MACD() average all values from monday to friday which is not intended.
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Rank: Advanced Member
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Joined: 10/28/2004(UTC)
Posts: 110
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Flexi,
Your request was "Wanted to create an indicator which calculate a 10 days average of the MACD() on monday. For example, today is monday and the indicator would plot the 10 days average of the MACD() value on the previous 10 mondays. "
Normally, a MACD is calculated by subtracting a 26 EMA from a 12 EMA. A Weekly MACD uses the close of the week which in most cases would be a Friday.
There are a number of excellent sources for a weekly MACD but I am afraid that they will likely use the Friday close. You will need to make that adjustment. The best sources that I know of would be either Roy's or Jose's sites. They can be found here:
http://www.metastocktips.co.nz/other_formulas.html
http://www.metastocktools.com/#metastock
Trades online offers one but it is probably not what you want. Here is the link anyway:
http://trader.online.pl/MSZ/e-w-MACD_Histogram.html
Hope this helps,
Preston
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Rank: Advanced Member
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Joined: 5/27/2006(UTC)
Posts: 135
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Hi Preston,
I am not coding weekly MACD but just want to plot the average of MACD on 10 previous monday. Only monday values are added and divided for the average. The value calculated will be plotted on moday and not other day
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Rank: Advanced Member
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Joined: 10/28/2004(UTC)
Posts: 110
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This what you had in mind?
MMD:= ValueWhen(1,DayOfWeek()=1,MACD());
MAMD:=Mov(mmd,10,S);
If(DayOfWeek()=1,MAMD,0);
Preston
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Rank: Advanced Member
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Joined: 5/27/2006(UTC)
Posts: 135
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Hi Preston, MMD:= ValueWhen(1,DayOfWeek()=1,MACD()); MAMD:=Mov(mmd,10,S); If(DayOfWeek()=1,MAMD,0);
The second code does not average the monday Macd(). Trying to create something:
MMD:= ValueWhen(1,DayOfWeek()=1,MACD());
MMD1:= ValueWhen(2,DayOfWeek()=1,MACD());
MMD2:= ValueWhen(3,DayOfWeek()=1,MACD());
If(DayOfWeek()=1,MAMD + MMD1 + MMD2,0);
The problem with using valuewhen is require to define each previous value and for a average of 20 there are 20 definition MMD. Is there a good way to code this?
Regards.
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Rank: Advanced Member
Groups: Registered, Registered Users, Subscribers
Joined: 10/28/2004(UTC)
Posts: 110
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Flexi,
MAMD:=Mov(mmd,10,S);
and
MAMD:=Sum(mmd,10)/10;
would be the same. If you prefer 20 you would simply change the periods.
Preston
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