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Does anyone know 'Trend magic indicator' CCI:50 and ATR:5
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Does anyone ever heard about Trend magic indicator in Metastock? is it possible to write a code using CCI:50 and ATR:5
It just calculates a (by default) 50-bar CCI and looks to see if it is above/below zero. Then it adds or subtracts a (by default) 5-bar ATR.
can anyone write a code for metastock using these variables?
best regards
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I don't think CCI would ever equal 0, but you could add a condition for if CCI(50) = 0 to simply plot CCI(50)...
Not including the above concern, the formula below should work.
If(CCI(50) > 0,CCI(50)+ATR(5),If(CCI(50) < 0,CCI(50)-ATR(5),0))
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Does anyone know 'Trend magic indicator' CCI:50 and ATR:5
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