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Formula reuqired- when Elders weekly histogram turns Red or green?
Rank: Advanced Member
Groups: Registered, Registered Users Joined: 6/10/2009(UTC) Posts: 33
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hi guys
need help and any support is appreciated in advance.
I am looking to create exploration formula on daily charts when weekly histogram of Daily charts turn either green or red?
I use elder triple screen strategy for trading and I am unable to find stocks that are just turning green or red on weekly histogram.
thanks in advance
Suresh
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Rank: Advanced Member
Groups: Registered, Registered Users Joined: 4/27/2005(UTC) Posts: 31
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Dr. Elder has an add-on for MetaStock that includes this screen but I do not know if how it is setup.
If you want to make your own, why not just set the Explorer to use weekly data. The explorer could then read your daily data and compress it to weekly for you.
If you really want the exploration to do all the calculations on daily data, then you would have to write the formula so it extrapolates the weekly values. This means identifying a condition that marks the beginning or end of the week. Then using valuewhen, highestsince, lowsince, and the like to get the open, high, low, and close prices of the week. From there, you would have to write out how to calculate the indicators using your extrapolated values. This process is doable for most indicators but each one is a separate formula.
Alternately, some people may have already created these formulas for you. It think one person wrote a dll to extrapolate the prices for you, but I belive he said it did not work on indicators yet.
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Formula reuqired- when Elders weekly histogram turns Red or green?
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