Hello!

I have already bought MetaStock 11.0 EOD and I have read book by Elder Alexander "Trading for a living. Psychology. Trading. Tactics. Money Management". It explained so-called "Triple Screen Trading System". The very basic thing in this system is MACD HISTOGRAM (alternatively EMA). I found that in MetaStock there are only indicators MACD and MACD DEMA-smoothed, MACD TEMA-smoothed (whatever the difference between DEMA and TEMA is); I used the first one. However I couldn't find MACD histogram.

I tried the formula from here http://www.paritech.com....stom/indicators/macd.asp for Weekly MACD Histogram and it was as follows:

Mov(If(DayOfWeek()=5,C,Peak(1,If(DayOfWeek()=5,C,0),1)),60,E)-
Mov(If(DayOfWeek()=5,C,Peak(1,If(DayOfWeek()=5,C,0),1)),130,E)-
Mov(Mov(If(DayOfWeek()=5,C,Peak(1,If(DayOfWeek()=5,C,0),1)),60,E)-
Mov(If(DayOfWeek()=5,C,Peak(1,If(DayOfWeek()=5,C,0),1)),130,E),45,E)

The formula from here http://www.meta-formula....etastock-Indicators.html was different:

MACD()-Mov(MACD(),9,E);0

I decided to use the first one because they indicated it was for weekly values which was what I wanted to have. However, for many formulas (not all, but too many - those which have only about two years of emitting the share) it gave the error:

Period value out of valid range in Mov() function.

I just wonder - can anybody give me the proper formula for MACD histogram? I can plot MACD so if I can do it, it is also possible to create MACD histogram because it is only difference between two lines of MACD. The other useful thing would be line in the MACD histogram to distinguish between positive and negative values of histogram.

How is it possible that such a simple thing as MACD histogram is not present in MetaStock? I am not surprised that more sophisticated things as Elder-ray and Force Index are not present in this program (those are other parts of Triple Screen Trading System). But MACD histogram look like rather basic thing.

Can you give me, please, the formula for MACD histogram which will not create this error? If possible, give me also the TESTED link for explanation of creating Elder-ray (more important for me) and Force Index.

By the way - that should be simple thing - when I check the last two values from indicator, I move my mouse to the last value on the graph and then to the previous one (in order to compare last two values). It is not so comfortable to move the mouse. Is there any way just to list in the text way values of the indicator from several last days?

Thanks in advance for your help!
Regards!

Here is the formula I created so i could plot the MACD Histogram:

Use the Indicator Builder from the MetaStock Toolbar.

Name the indicator !MACDH (Use exclamation point so your custom made indicator will show up first on the list)

Enter the following formula:

If(Mov(CLOSE,13,E) - Mov(CLOSE,34,E) > 0, Mov(CLOSE,13,E) - Mov(CLOSE,34,E), 0);

If(Mov(CLOSE,13,E) - Mov(CLOSE,34,E) < 0, Mov(CLOSE,13,E) - Mov(CLOSE,34,E), 0);

Pull up a stock chart and apply !MACDH as you would with any other indicator.

Click on the indicator line above zero and change its color to green and its style to histogram.

Click on the indicator line below zero and change its color to red and its style to histogram.

Now you should see a typical looking MACD Histogram that is green when above the zero line and red with below.

Hope this helps,

Alan

Hello!

Thanks both of you for your advices!

I tried playing on on-line stock exchange game before entering the real one and it was good idea because I lost some money. I tried first of all checking if weekly exponential moving average is increasing and then if daily stochastic oscilator was below down line. I also tried Elder's Ray. (I have read Formula Primer pdf tutorial about programming language used in MetaStock and it is rather easy language. But more important is not how to write but what to write :P). I dunno why it gave me loss of money for all the eight securities I bought...

I've got the question - how to use the system? I found this one http://trader.online.pl/...e_is_fine_Trendline.html . I tested it (Tools -> Enhanced System Tester -> New Simulation), however I don't quite know where I can find average gain in percent (I see only gains for the given securities). Where can I find this average gain? And main question: HOW TO USE THE SYSTEM? I entered The Explorer, added as filter content of 'Enter Long' field from the system. It checked all the securities and didn't find any that passed the filter. It wouldn't be this surprising if I didn't find "Results of filter formula not defined on calculation date" in all the fields of "Reason for Rejection". How to fix it?

I want to check several systems (this is why I wanted average gain which I couldn't find) and then to use the best one (this is why I want to use it :P) on several securities for several days or weeks on that on-line game, before entering the stock exchange with real money. I also thought - what other oscillators can somebody suggest me to use, as that second screen, for finding daily signs when to buy or sell?

Less important thing is that I'd like to make two tests, first to find WEEKLY increasing EMA or MACD histogram in order to find that trend is increasing. Then to use oscilators (like Stochastic, Willimas %R, Elder's Ray, Elder Force Index, maybe also RSI) to find when to buy. I ask application to show me some data in the columns from A to something, I write the filter value. Then I make other test (daily) based on previous research done by tester. I've got lost the column with values from the previous test, I've got it only from next test. How to have columns from both tests daily and weekly?

Regards!