Rank: Newbie
Groups: Registered Users, Subscribers
Joined: 7/13/2016(UTC)
Posts: 8
|
Hello,
For a given week on metastock the Weekly candle will display the last day of the week. Is it possible for me to have as an indicator, the low/high of simply the first day of the week? Similarly on a Monthly Chart could i show the lowest low/highest high for say 7 days?
Thanks a ton!
|
|
|
|
|
|
Rank: Newbie
Groups: Registered Users, Subscribers
Joined: 7/13/2016(UTC)
Posts: 8
|
I have the formula for the low of the first day of the week, but it displays it (remains static at the low of the first day) only on the daily chart. However, once I shift it to the Weekly timeframe, it switches to the low of the week. I also need help on how to go about the Monthly timeframe.
Thanks!
|
|
|
|
|
|
Rank: Advanced Member
Groups: Registered, Registered Users, Subscribers
Joined: 7/25/2005(UTC)
Posts: 1,042
Was thanked: 57 time(s) in 54 post(s)
|
This formula will plot the HIGH and LOW of each week on a daily chart unless extreme circumstances such as 9/11 in 2001 occur, or data where weekend days are different from the norm of Saturday and Sunday.
{Hi-Lo of First DOW}
D:=DayOfWeek();
D:=D<Ref(D,-1);
ValueWhen(1,D,H);
ValueWhen(1,D,L);
Ths indicator can be modified to pick up the first day of the month rather than the first day of the week on a daily chart. Picking up the first day of the month with weekly data is not do-able in my opinion.
{Hi-Lo of First DOM}
M:=DayOfMonth();
M:=M<Ref(M,-1);
ValueWhen(1,M,H);
ValueWhen(1,M,L);
Roy
|
|
|
|
|
|
Rank: Newbie
Groups: Registered Users, Subscribers
Joined: 7/13/2016(UTC)
Posts: 8
|
Hello,
Thanks for your help.
The first formula is what I was looking for. But is there a way I can post that output on the Weekly Chart? The reason I need this as I want to compare it with a custom formula which is on the Weekly. Alternatively, could I convert the output of the Weekly custom formula to the daily timeframe so that on the daily chart it would remain constant for that period?
Can I change the Monthly period wherein it takes the highest high/lowest low of an x period say 7 days instead of 1 day (only for the Monthly).
Thanks for your time and help!
|
|
|
|
|
|
Rank: Newbie
Groups: Registered Users, Subscribers
Joined: 7/13/2016(UTC)
Posts: 8
|
Basically need to plot the weekly and monthly range on the daily chart!
|
|
|
|
|
|
Rank: Advanced Member
Groups: Registered, Registered Users, Subscribers
Joined: 7/25/2005(UTC)
Posts: 1,042
Was thanked: 57 time(s) in 54 post(s)
|
Hi tradeninvest
Just to be clear, many weekly and monthly (but not all) such indicators can be plotted on daily or intraday charts if sufficient data is available. However, daily or intraday data cannot be accessed for weekly or monthly charts. Put another way, equal or higher timeframe indicators can usually be displayed on lower timeframe charts, but lower timeframe indicators cannot be plotted on higher timeframe charts. The same is also true for experts and explorations.
As I understand it the new MetaStock XV (version 15) apparently does what has been outlined above. For older MS versions the only two ways I'm aware of is to plot higher timefrane indicators using a DLL (name forgotten at this point, fast execution, but with an issue or two), or to use my Multi-Frame series of indicators. Each of 6 series of M-F indicators deliver around 150 formulas, and I can usually create M-F versions of most indicators if its code is available. A variation the standard M-F method is the "compression/expansion" method which offers a slightly easier method for experienced MS coders to convert some standard formulas to the Muilt-Frame format.
For obvious reasons I can't post complete formulas, but if you want more information you can email me at rlarsen@quik.co.nz.
Roy
|
|
|
|
|
|
| Users browsing this topic |
|
Guest (Hidden)
|
Forum Jump
You cannot post new topics in this forum.
You cannot reply to topics in this forum.
You cannot delete your posts in this forum.
You cannot edit your posts in this forum.
You cannot create polls in this forum.
You cannot vote in polls in this forum.
