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In his book he mentions about plotting a channel using two moving averages, but in metastock I have no idea of how to translate it to the syntax code of formulas.
Can anyone give me an example of how would that look like as a formula code?
top channel line = MME + MME * coeficient
bottom channel line = MME - MME * coeficient
thanks!
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Have a look in the MS Users Manual for the envelope indicator. This functionality has already been programmed for you. If you want to learn how to program this yourself, then try something along these lines: Code:prd:=10;
data:=CLOSE;
coeff:=0.001;
ma:=Mov(data, prd, E);
ul:=ma*(1+coeff);
ll:=ma*(1-coeff);
{plot}
ul;
ma;
ll;
As Dr Elder said in his book, you will have to play around with the coefficient value to "fit" the envelope around the data. Hope this helps. wabbit [:D]
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