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Missing features in Metastock 12 (Pro) - Missing features in Metastock 12 (Pro)
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abctrader  
#1 Posted : Wednesday, April 3, 2013 4:03:28 AM(UTC)
abctrader

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May I seek your kind help with the following.
I have just installed Version 12.1.47.3 of the MetaStock Pro (via Thomson Reuters) and immediately found that
(a) the Directional Movement +DI and -DI as well as the ADXR are displaying rounded values, and without decimal places
(b) When I draw Fibonacci retracements and extensions, the values for the retracement lines are not displayed alongside the lines.

Both the above features are available in the standard Metastock charting tool with Thomson Reuters, but not in the Pro.

(c) When I pull up a chart for an FX pair, (such as JPY=) the values (in the grey bar above the chart ) for OHLC and change, as well as the closeing price on teh Y axis all show extra decimal places, for eg in the case of JPY=, it is 93.5200 instead of just 93.52 and in EUR= it is 1.28290 instead of 1.2829. The extra decimal being only zeros are not required and serves to confuse the trader when trying to get a quick overview.

Could you please suggest a fix for these? I will be most grateful.
Thanks in advance.
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eddie.m  
#2 Posted : Wednesday, April 3, 2013 4:13:45 PM(UTC)
eddie.m

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Hello ABCtrader, [:)]

1). No ADX decimals? What do you need them for? Skip the problem. [;)]

2). Common mistakes beginners do is to turn for Forex for what they think will be quick gains.

Too many 0s bother you? Well don't bother with them.

Another mistake is their desire of everything to be perfect. The beginner feels his trading must be so good that he simply cannot take an error of one or two cents. [:@]

Another mistake is their desire for complexity. Scanning stocks for pattern finding is very ego boosting. Recognize this for what it is and do not use complexity as a crutch or you will be limping around with a crutch for a long time, delaying your very own progress.

These are simple problems one must overlook if he is to move on to the more serious problems of trading.

An acute spirit of observation is welcome, only make sure it does not make you sabotage yourself. [:D]
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eddie.m  
#3 Posted : Wednesday, April 3, 2013 4:35:18 PM(UTC)
eddie.m

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Hi again, Ed

This is what I posted today, requesting your help
-----------------------

Hi

I am trying to build a custom explorer with the following condition.

Setp 1) look at the last 30 days and determine the lowest low;

Step 2) check if this low is below the 14-day moving average

Step 3) if the answer to step 2 is a 'yes' see if the closing price has exceeded the 14-day moving average of the highs in the last 7 days

step 4) give me a list of all the stocks that gave the answer to step 3 as 'yes'

-----

thank you very much in advance. I am a beginner with metastock.

abctrader

-----------------------------------------------------------------

Hi there,

1). As a beginner, there is no need to waste time on explorations. Explorations are for traders with at least US$1M who scan every night for certain patterns in a basket of at least 50 securities.

You do not have US$1M now, and exploring that which you do not have an immediate need for is a waste of time and unwelcome stress.

2). You got US$10,000 trading capital?

Find two stocks with prices form $5 - $8 and trade them according to a concept you understood well which gives you confidence for placing trades.

Buy 500 shares each of the $5 - $8 stock, for a total of $6,500.

Download the data every night, and buy & sell when you get the signals.

Trading is a profitable endeavor only to those who came out of a journey where every single bad step is a 2-steps back regress. Beginners want to make trading a cerebrally satisfactory pursuit; advanced traders make that too, but they managed to make it mostly a monetarily satisfactory one. [:D]

As a beginner, it’s hard to make it through the woods alone. Why do it alone, are you the Terminator?

Get a teacher right away to take you out of confusion. [H]
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haddison  
#4 Posted : Thursday, April 4, 2013 10:17:51 AM(UTC)
haddison

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You can plot the ADX with decimal places using the ADXRaw formula:

{MetaStock code written by Equis and published in the Oct99 TASC}

Periods:= Input("Enter time periods",1,100,14);

PlusDM:= If(HIGH>Ref(HIGH,-1) AND
LOW>=Ref(LOW,-1), HIGH-Ref(HIGH,-1),
If(HIGH>Ref(HIGH,-1) AND LOW<Ref(LOW,-1)
AND HIGH-Ref(HIGH,-1)>Ref(LOW,-1)-LOW,
HIGH-Ref(HIGH,-1), 0));
DIPlus:= 100 * Wilders(PlusDM,Periods) /
ATR(Periods);

MinusDM:= If(LOW<Ref(LOW,-1) AND
HIGH<=Ref(HIGH,-1), Ref(LOW,-1)-LOW,
If(HIGH>Ref(HIGH,-1) AND LOW<Ref(LOW,-1)
AND HIGH-Ref(HIGH,-1)<Ref(LOW,-1)-LOW,
Ref(LOW,-1)-LOW, 0));
DIMinus:= 100 * Wilders(MinusDM,Periods) /
ATR(Periods);

DIDif:= Abs(DIPlus - DIMinus);
DISum:= DIPlus + DIMinus;
ADXRaw:= 100 * Wilders(DIDif/DISum, Periods);

ADXRaw
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eddie.m  
#5 Posted : Thursday, April 4, 2013 7:53:51 PM(UTC)
eddie.m

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abctrader wrote:
May I seek your kind help with the following.
I have just installed Version 12.1.47.3 of the MetaStock Pro (via Thomson Reuters) and immediately found that
(a) the Directional Movement +DI and -DI as well as the ADXR are displaying rounded values, and without decimal places

Both the above features are available in the standard Metastock charting tool with Thomson Reuters, but not in the Pro.

Could you please suggest a fix for these? I will be most grateful.
Thanks in advance.

Hi ABC, [:)]

You can get formulas with decimals for ADX and ADXR here.

I am chasing after whole numbers, but if you want, feel free to go after the decimals ... [:D]
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haddison  
#6 Posted : Friday, April 5, 2013 6:26:52 PM(UTC)
haddison

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Posts: 113
Location: London
There was an article on TradingMarkets dot com by Charles LeBeau and David Lucas, well-known trading book authors, who make a point as to why using decimals is important:

For example a significant upward move from 25.05 to 25.35 leaves the rounded ADX unchanged at 25 while an insignificant move from 25.45 to 25.55 jumps the ADX a whole point from 25 to 26.
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eddie.m  
#7 Posted : Monday, April 8, 2013 7:27:36 AM(UTC)
eddie.m

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haddison wrote:
There was an article on TradingMarkets dot com by Charles LeBeau and David Lucas, well-known trading book authors, who make a point as to why using decimals is important:

For accuracy of information, Chuck is now retired, although I wonder why somebody successful at raking in profits out of the markets should retire. [:O] Perhaps he retired from the public eye, but privately at home, he still does a bit of trading ...

(The only good part is that he retired after a long career, unlike most MS forum users who will have to retire before their career starts …) [:D]

His web site traderclub.com is gone, but the domain name is still active.

He had some nice trading systems which he used to sell very affordably about 10 years ago. I wonder what became of them.

He is the author of Chandelier Exit for which we must show him respect.

He has another web site SmartStops up and runnig.

Chuck might have talked about decimals, but, I, for one, can do very well without them. [;)] There are other ways to work around ADX, DI+ & DI- decimals, better than the bloated codes shown in the posts above.

You can read an interesting article about Chuck before his retirement here.

Not my 2 cents. My full dollar … [H]
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abctrader  
#8 Posted : Sunday, April 14, 2013 3:57:19 AM(UTC)
abctrader

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Posts: 5

Haddidon, Thank you very much. This formula works without errors, but could you kindly also post the fomrula for ADXR with decimals. The formula you have posted is for the ADX. Regards

Eddie.M, Thank you too for posting links for the formulas, unfortunately when I tried to use them on the Metastock Pro, the values appeared off from where the standard Metastock charts show.

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haddison  
#9 Posted : Sunday, April 14, 2013 7:32:16 AM(UTC)
haddison

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Posts: 113
Location: London
Hi,

ADXR is the average of this bar's ADX and the ADX of X bars ago.
Remove the last line (ADXRaw) and replace with the following:

ADXRRaw:=(ADXRaw+Ref(ADXRaw,-Periods))/2;
ADXRRaw;
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John S  
#10 Posted : Monday, April 15, 2013 10:04:11 AM(UTC)
John S

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Posts: 169

Welles Wilder's math was pretty screwy. Anyone that is dug into the details of his formulas in the original source "New Concepts in Technical Analysis" would attest to this.

With that said, here is a formula that gives you decimals on ADXR:

Code:

updm1:= H-Ref(H,-1);
dndm1:= Neg(L-Ref(L,-1));
dndm14:=Wilders(If(dndm1>=Max(updm1,0),dndm1,0),14);
updm14:=Wilders(If(updm1>=Max(dndm1,0),updm1,0),14);
tr14:= Wilders(ATR(1),14);
upDX:=(dndm14 /tr14)*100;
dnDX:=(updm14 /tr14)*100;
adxc:=Wilders(Abs((upDX-dnDX)/(upDX+dnDX)),14)*100;
(adxc+Ref(adxc,-13))/2


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abctrader  
#11 Posted : Monday, April 15, 2013 11:27:18 PM(UTC)
abctrader

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Joined: 4/3/2013(UTC)
Posts: 5
Thank you
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