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Need Help with Custom Indicator in MetaStock
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Hi everyone, I am relatively new to MetaStock and trying to create a custom indicator for my trading strategy,. I want to design an indicator that combines moving averages with RSI to give buy/sell signals. Specifically, I’d like the indicator to trigger a buy signal when the short--term moving average crosses above the long-term moving average,, and the RSI is above 30... Conversely, a sell signal should be triggered when the short--term moving average crosses below the long-term moving average and the RSI is below 70. Can anyone guide me through the steps to set this up: ?? Any sample code or tips would be greatly appreciated! Thanks in advance! Maria |
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Originally Posted by: mariyaaj000nas  Hi everyone, I am relatively new to MetaStock and trying to create a custom indicator for my trading strategy,. I want to design an indicator that combines moving averages with RSI to give buy/sell signals. Specifically, I’d like the indicator to trigger a buy signal when the short--term moving average crosses above the long-term moving average,, and the RSI is above 30... Conversely, a sell signal should be triggered when the short--term moving average crosses below the long-term moving average and the RSI is below 70. Can anyone guide me through the steps to set this up: ?? Any sample code or tips would be greatly appreciated! Thanks in advance! Maria
Depending on how you want the indicator structured, you could write this in a variety of ways. You could also write this as an expert advisor to generate Buy and Sell graphical signals on a chart. As an Indicator, you could write the formula to provide a +1 for a Buy and a -1 for a Sell. This is just a sample using Exponential Moving Averages and variables at the beginning that can be modified as desired: Code:STMA:=20;
LTMA:=50;
RSIPER:=14;
Buy:=Cross(Mov(C,STMA,E),Mov(C,LTMA,E)) AND RSI(RSIPER) > 30;
Sell:=Cross(Mov(C,LTMA,E),Mov(C,STMA,E)) AND RSI(RSIPER) < 70;
If(Buy,1,If(Sell,-1,0))
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