Rank: Newbie
Groups: Registered, Registered Users
Joined: 11/5/2012(UTC)
Posts: 7
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Hello,
I need help for this tricky indicator for Metastock. I found it very useful with other software.
I call it Fearzone. It´s actually two indicators.
Indicator one: FZ1
Value1= highest average price of the last 22 days minus the average price of today.
(Average price is the sum of the open, close, high, and low /4)
Value2= the highest average price of the last 22 days.
FZ1 indicator= value1/value2
The limit line in the FZ1-zone= Bollingerband(200,1) on the FZ1 indicator.
Indicator two: FZ2
Value1=average price. (O+C+H+L/4)
Value2= 22 period moving average of the average price.
FZ2 indicator= value1 – Value2.
The limit line in the FZ2-zone=Bolingerband(200,1) on the FZ2 indicator.
I enclosed a picture how it should look. Many thanks in advance.
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Rank: Advanced Member
Groups: Registered, Registered Users
Joined: 11/9/2012(UTC)
Posts: 169
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I'm not clear on what you mean by the "limit line" using the Bollinger Bands. So you'll need clarify. But I believe what I've written below gets you closer. ___________ Create a new custom indicator named "Fear Zone 1" with the following:
AvgPrice:=(O+H+L+C)/4; HighestAvgPrice:= HHV(AvgPrice,22; Diff:=AvgPrice-HighestAvgPrice; FearZone1:=Diff/HighestAvgPrice FearZone1
Create a new custom indicator named "Fear Zone 2" with the following:
AvgPrice:=(O+H+L+C)/4; MovAvgOfAvgPrice:= Mov(AvgPrice,22,S); FearZone2:=AvgPrice-MovAvgOfAvgPrice; FearZone2 ______________________
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