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Joined: 1/19/2005(UTC)
Posts: 1,065
Location: Koh Pha-Ngan, Earth
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This simple but useful indicator allows price or indicator values to be rounded to the nearest user-defined quantized $ or % level/step.
For an application example, this quantizing method could be applied to either (or both) price or MA's, to eliminate whipsaws in price/MA crossovers.
MetaStock -> Tools -> Indicator Builder -> New ->
Copy and paste complete formulae between "---8<---" lines.
[code:1:af9e2f4b52]
==============
Stepped output
==============
---8<--------------------------
{ Stepped Price/Indicator output v2.0 }
{ ©Copyright 2005 Jose Silva
For personal use only
http://www.metastocktools.com }
{ Data array or indicator to quantize }
x:=C;
{ User inputs }
step:=Input("Step size",0,10000,0.5);
type:=Input("Step type: [1]$points, [2]%percentage",1,2,1);
{ Step size }
step:=Max(If(type=1,step,
LastValue(x*(step/100))),.00001);
{ Stepped data array }
stepX:=Int(x/step+.5)*step;
{ Plot on price chart or own window }
stepX
---8<--------------------------
[/code:1:af9e2f4b52]
jose '-)
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