logo
Welcome Guest! To enable all features please Login or Register.

Notification

Icon
Error

Options
Go to last post Go to first unread
KTP2  
#1 Posted : Tuesday, May 4, 2010 4:50:21 PM(UTC)
KTP2

Rank: Advanced Member

Groups: Registered, Registered Users, Subscribers
Joined: 2/2/2007(UTC)
Posts: 367

Was thanked: 1 time(s) in 1 post(s)

Bull and Bear Balance Indicator

Vadim Gimelfarb's article, "Bull and Bear Balance Indicator" references a histogram created by subtracting his bear power indicator from his bull power indicator. The result is then smoothed by a 30-period average. The following formula will produce that histogram.

To use this formula in MetaStock: go to Tools | Indicator Builder. Click New and enter the name for the formula. Then click in the larger window and enter the actual formula. When done, click Okay. After you plot this formula in a chart, right-click on the resulting line and then left click properties. Change the line style to Histogram and click Okay.

The formulas for Bull Power and Bear Power were re-arranged slightly in the hopes of making them easier to read and enter in the formula editor.

Name: Bull Power/Bear Power Histogram.
Formula:

r1:=If(Ref(C,-1)<O,Max(O-Ref(C,-1),H-L),H-L);
r2:=If(Ref(C,-1)>O,Max(Ref(C,-1)-O,H-L),H-L);
bull:=If(C=O,
If(H-C=C-L,
If(Ref(C,-1)>O,
Max(H-O,C-L),
r1),
If(H-C>C-L,
If(Ref(C,-1)<O,
Max(H-Ref(C,-1),C-L),
H-O),
r1)),
If(C<O,
If(Ref(C,-1)<O,
Max(H-Ref(C,-1),C-L),
Max(H-O,C-L)),
r1));
bear:=If(C=O,
If(H-C=C-L,
If(Ref(C,-1)<O,
Max(O-L,H-C),
r2),
If(H-C>C-L,
r2,
If(Ref(C,-1)>O,
Max(Ref(C,-1)-L,H-C),
O-L))),
If(C<O,
r2,
If(Ref(C,-1)>O,
Max(Ref(C,-1)-L,H-C),
Max(O-L,H-C))));
Mov(bull-bear,30,S)

Users browsing this topic
Guest (Hidden)
Forum Jump  
You cannot post new topics in this forum.
You cannot reply to topics in this forum.
You cannot delete your posts in this forum.
You cannot edit your posts in this forum.
You cannot create polls in this forum.
You cannot vote in polls in this forum.