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Does Metastock have a retracement indicator/calculator (not Fibonacci) that can be plotted on a chart? The stock peaks at $100 and goes down to $90, 10% retracement. If not, does anyone know how to code it?
Thanks
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Rank: Advanced Member
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When I have tried to create indicators like you describe, the trouble starts with defining
my peaks and troughs. The Peak() and Trough() functions get iffy close to the current date
so I usually have instead defined my peak and troughs using extremes of a chosen indicator
then using ValueWhen() to grab the Close at those dates to do my calculations.
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Rank: Member
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Is it possible to point at the high and read the value of the arrow pointer and then point at the low and then make the calculation? Does anyone know how to read the arrow pointer?
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Rank: Advanced Member
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Will:
Insert - Fibonacci - Retracement
work?
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Rank: Member
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No, I've looked at that and it's not the same thing. Super Charts had an indicator that was perfect. It required 3 points, the start of a run up, the high, and the retracement. You could then see the percent run up and percent retracement. Useful information and certainly easily done in Excel. Just would be nice to have an MS indicator. I still believe if you could read the value of the arrow pointer as an input it could be programmed.
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If you know how to define the peak point, then you can use the ValueWhen() function, but the problem comes in that definition.
wabbit [:D]
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