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Hello,
I discovered an indicator that I don't remeber seeing in metastock
I found it at Bigcharts.com and it's called Price channel
I was wondering what is the formula for that indicator so that perhaps I can build it and use it in metastock
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Rank: Advanced Member
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Joined: 7/25/2005(UTC)
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Hi Status1
Look for Price Channel in the index of the MetaStock User Manual. It's in the MS 9.1 manual and is likely to be in both both earlier and later versions also. You should be able to work out the code from the description of the indicator that's given there.
Roy
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Rank: Newbie
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Joined: 9/3/2007(UTC)
Posts: 5
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Hello, Thanks for the reply, I have a way old metastock 5.11 so I don't have that manual Is that available online ? Upon further search I think I found something that loos like the indicator I saw
"2 lines represented the Price Channel. It is based on measurement of min, and max. prices for the definite number of periods.
The following formulas serve as the basis for the lines of the price channel: PC Lower = LL (n). It's the minimal value from the set of all Low prices (Lowest Low) within n periods.
PC Upper = HH (n). It's the maximal value from the set of all High prices (Highest High) within n periods" I hope I can enter that formula somehow
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Rank: Advanced Member
Groups: Registered, Registered Users, Subscribers
Joined: 7/25/2005(UTC)
Posts: 1,042
Was thanked: 57 time(s) in 54 post(s)
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HiStatus1
Try this.
N:=14;
HHV(H,N);
LLV(L,N);
I don't know that these functions are supported by 5.11 but it's worth a try. If you want to vary the number of lookback periods you couls try this.
N:=Input("Price Channel Periods",2,99.14);
HHV(H,N);
LLV(L,N);
Roy
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Rank: Newbie
Groups: Registered, Registered Users
Joined: 9/3/2007(UTC)
Posts: 5
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Hello,
I have the hhv and llv but I am not sure how to use them
Also what to enter for "n"
I entered the first formula like this LLV( LOW ,21 ) and it seem to be close except at one point it went above the price so I don't think I have it quite right
Also I am not sure how to add the second part of the formula since it doesnt allow me to enter it by itself on a new line If I enter without anything in between it says "operator expected"
I tried to add "AND" or "OR" in between but that just makes a flat line so that's going to need more work
I can enter the other half by itself like this HHV( HIGH ,21 ) but that also goes above and below the price at some point
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Rank: Newbie
Groups: Registered, Registered Users
Joined: 9/3/2007(UTC)
Posts: 5
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Quick update
Instead of making one formula I made 2 separate ones and it's seems to be working correctly now
Thanks for your help
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