Rank: Advanced Member
Groups: Registered, Registered Users, Subscribers
Joined: 3/7/2005(UTC)
Posts: 1,346
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there have been quite a few good questions lately.... kadip was wondering about applying multiple expert style ribbons, commonly seen at the lower edge of charts, in various separate windows above the price charts....
lets pass over the multiple expert deal, and focus on just what that ribbon is..... its two short fat multi-colored binary waves in a histogram form placed in the same window ....
bullish breadth
ADI:=Security("C:\\MetaStock Data\\BM Data\\us&ADVN",C);
USV:=Security("C:\\MetaStock Data\\BM Data\\us&UVOL",C);
DCI:=Security("C:\\MetaStock Data\\BM Data\\us&DECN",C);
DSV:=Security("C:\\MetaStock Data\\BM Data\\us&DVOL",C);
NNH:=Security("C:\\MetaStock Data\\BM Data\\us&YHIQ",C);
NNL:=Security("C:\\MetaStock Data\\BM Data\\us&YLOQ",C);
MKT:=Security("C:\\MetaStock Data\\BM Data\\us;NYA",C);
CTI:=(((ADI/(ADI+DCI))-0.5)*100)*0.25 +
(((NNH/(NNH+NNL))-0.5)*100)*0.3 +
(((USV/(USV+DSV))-0.5)*100)*0.2 +
ROC(MKT,12,%)*0.25;
SCTI:=Mov(CTI,12,E);
SCTI>=(Mov(SCTI,21,S)+(Stdev(SCTI,21)*0.5))
bearish breadth
ADI:=Security("C:\\MetaStock Data\\BM Data\\us&ADVN",C);
USV:=Security("C:\\MetaStock Data\\BM Data\\us&UVOL",C);
DCI:=Security("C:\\MetaStock Data\\BM Data\\us&DECN",C);
DSV:=Security("C:\\MetaStock Data\\BM Data\\us&DVOL",C);
NNH:=Security("C:\\MetaStock Data\\BM Data\\us&YHIQ",C);
NNL:=Security("C:\\MetaStock Data\\BM Data\\us&YLOQ",C);
MKT:=Security("C:\\MetaStock Data\\BM Data\\us;NYA",C);
CTI:=(((ADI/(ADI+DCI))-0.5)*100)*0.25 +
(((NNH/(NNH+NNL))-0.5)*100)*0.3 +
(((USV/(USV+DSV))-0.5)*100)*0.2 +
ROC(MKT,12,%)*0.25;
SCTI:=Mov(CTI,12,E);
SCTI<=(Mov(SCTI,21,S)-(Stdev(SCTI,21)*0.5))
create those 2 indicators ..... when you apply 'bullish breadth' it to a chart it will plot
a binary wave.... right click on the wave and using properties change the color to green, the style to histogram, and the weight to about the 3'rd setting.... apply the 'bearish breadth' indicator in the same window, follow the same steps but choose red as color.... drag it down to just below the volume so as to compare to meta's ribbon..... it should match the ribbon as seen on the meta included 'bm nyse.mwl'..... minus of course the text bullish and bearish, but hey........
its possible with a small amount of work to recreate on 1 chart almost all ribbons..... kadip's use would be to assure all the little ducks were lined up before takin a shot....... a wise policy....
in the fwiw department, with alot of work, a few people could include all ribbons text included but the ends would not justify the means, trust me......h
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