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TraderSeven  
#1 Posted : Tuesday, January 18, 2005 9:56:41 PM(UTC)
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How do i use weekly bars instead daily bars when using explorer. For example how do I take a moving average of 5 weekly bars. Thx for your help, TraderSeven
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Patrick  
#2 Posted : Tuesday, January 18, 2005 10:52:22 PM(UTC)
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You just need to change the periodicity of the exploration. To do this, click on tools, the explorer, then select the exploration you would like to use and click on edit. There you will see an options button, click on it and change the exploration's periodicity to weekly. Hope this helps.
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TraderSeven  
#3 Posted : Wednesday, January 19, 2005 4:50:23 PM(UTC)
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Thanks for the feedback Patrick. Your suggestion works fine but introduces another problem. I need daily and weekly at the *same* time. Let's start to say I use 3rd party indicators (password protected). Basicly my explorer checks the trend based on daily bars and give buy/sell 'advise' based on the scan. If a weekly bar scan points in the same direction that will give a more robust signal. Is there a way to solve the problem? Like running 2 scans that (semi-) automaticly get 'merged' Regards, TraderSeven
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Patrick  
#4 Posted : Wednesday, January 19, 2005 5:09:33 PM(UTC)
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There are ways to combine weekly and daily scans with custom formulae. Unfortunately it sounds like you do not have access to the ones you would like to use. Does the plug in by any chance installed functions on your metastock that we could use to recreate our own version of the scan? Now my recommendation would be to copy the proprietary exploration and add weekly to the name ( and of course set it to weekly :D ). Then select both the weekly and daily explorations (select the daily first ) and click on explore. A new window will pop up, select "use results from last explorations". Run your scan. What this will do is run the daily exploration first, and only keep the securities with a signal and then run the weekly explorations against these securities. It is partly what you want the problem is the results will show you only stocks that have passed both the daily and weekly exploration tests. I hope this makes sense ...
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TraderSeven  
#5 Posted : Thursday, January 20, 2005 5:43:05 PM(UTC)
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Yes it makes perfect sense. Thanks for the support :D
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Engenhus  
#6 Posted : Tuesday, May 24, 2005 4:59:18 PM(UTC)
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Hi guys! Let me borrow this topic to ask something... How can I plot on a daily chart indicators using weekly data? For example... in a daily chart, i would like to plot the weekly RSI, which would have a constant value during 5 days in past weeks. Thanks in advance for any reply, Engenhus
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Patrick  
#7 Posted : Tuesday, May 24, 2005 5:15:38 PM(UTC)
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Welcome :D Here is a formula you could try :wink: tp:= Input("time periods for RSI",2,200,14); new:=Mod(Cum(1),5)=0; plot:= C; change:= ROC(plot,5,$); Z1:=If(new,If(change>0,change,0),0); Z:=If(Cum(1)=tp*5,Cum(Z1)/tp,If(new,(PREV*(tp-1)+Z1)/tp,PREV)); Y1:=If(new,If(change<0,Abs(change),0),0); Y:=If(Cum(1)=tp*5,Cum(Y1)/tp,If(new,(PREV*(tp-1)+Y1)/tp,PREV)); temp:= If(Y=0,-1,Y); RS:= If(temp=-1,0,Z/temp); If(BarsSince(Cum(1)=tp*5)>=0,100-(100/(1+RS)),0) Patrick :mrgreen:
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Engenhus  
#8 Posted : Tuesday, May 24, 2005 8:47:25 PM(UTC)
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Excellent Patrick! Thanks for the quick response. It's a very nice piece of code indeed... It seems to work fine with just a little exception... new:=Mod(Cum(1),5)=0; Is there any way to change this so that the code can detect whether is monday or not? What happens is that the calculation starts independently of the week day, making all the calculation "misplaced". This makes the code also blind in the case of holidays. Thanks again for your help. Sorry for my english.. if I didn't made myself clear I'll try to explain better. Engenhus
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Patrick  
#9 Posted : Tuesday, May 24, 2005 9:45:38 PM(UTC)
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I think I have seen some calendar stuff in Jose's formulae. I guess we could steal that from him and add it to the current formula :D You should look at his weekly indicators at www.metastocktools.com and see if you can incorporate that in the RSI formula. I will try to take a look at it later if I can. Patrick :mrgreen:
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Engenhus  
#10 Posted : Tuesday, May 24, 2005 9:48:12 PM(UTC)
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At this point, the problem I mentioned is solved. I replaced all the "new" for "DayOfWeek()=1" and deleted the "new" variable assignement. Additionally, I noticed the values calculated are slightly different from the ones ploted in the weekly chart. Where it should be 70.xx, is 74.xx and so on... Any thoughts on the reason for this? Engenhus
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Patrick  
#11 Posted : Tuesday, May 24, 2005 9:57:25 PM(UTC)
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My guess is because the calculations on RSI are exponential and that you have x amount of weekly bars on your daily charts compare to x amount of weekly bars on your weekly chart ... Hope that makes sense. Patrick
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