Thrust Oscillator

David Hawkins' article "Find Those Market Tops" described the Thrust Oscillator. This formula requires the Security Data function which is only available in MetaStock Professional and the 8.01 end-of-day version. This function allows you to directly reference the data from several different securities/ticker symbols. The formula below is written with the eSignal ticker symbols with online data.

To create a formula in MetaStock, select Indicator Builder from the Tools menu. Click New and then enter the formula below. When finished click OK.

Name: Thrust Oscillator
Formula:
ai:= Security("ONLINE:$ADV",C);
ds:= Security("ONLINE:$DECL",C);
av:= Security("ONLINE:$UVOL",C);
dv:= Security("ONLINE:$DVOL",C);
((ai*av)-(ds*dv))/((ai*av)+(ds*dv))

If you are using Reuters Datalink instead, the formula would be:

Name: Thrust Oscillator
Formula:
ai:= Security("ONLINE:X.NYSE-A",C);
ds:= Security("ONLINE: X.NYSE-D",C);
av:= Security("ONLINE: X.NYSE-A",V);
dv:= Security("ONLINE: X.NYSE-D",V);
((ai*av)-(ds*dv))/((ai*av)+(ds*dv))