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Joined: 10/16/2009(UTC)
Posts: 34
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Hello everyone, i found in a financial blog the formula for this indicator very useful to identify trends.It sound like Supertrend but it's slightly different. Cold someone help me to translate it in metastock language? Thank you in advance: Code:Var: VolaPer(2.2), Vola1(21), Vola2(10);Var: HClose(-99999), LClose(99999), IndZona1, Value1(0), Value2, Ematrend,
IdOggCross, vol(0), colore, Value2new(0);vol = stddev(a, Vola1);
Value1 = Op(constval(Volaper), Vol, Mul);
HClose = IIF(C > HClose, C, HClose);
LClose = IIF(C < LClose, C, LClose);If (Value2 = 0) and (CurrentBar <= 1) then
Value2 = HClose - Value1 - ATR(C, Vola2);
endif;If (C < Value2) then
Value2new = LClose + Value1 + ATR(C, Vola2);
HClose = C;
entershort(nextbar, atopen);
Endif;If (C > Value2) then
Value2new = HClose - Value1 - ATR(C, Vola2);
LClose = C;
enterlong(nextbar, atopen);
Endif;Value2 = Value2new;Indzona1 = CreateViewport(400, true, true);
If (CurrentBar > 1) Then
Ematrend = Value2[1];
PlotChart(Ematrend, 0, lime, solid, 2);
endif;if crossover(C, EMAtrend) Then
colorbar(blue);
IdOggCross = DrawText(IdOggCross, 0, D, H, "Bullish", C, green, 8, 1+4, 1);
Endif;if crossunder(C, EMAtrend) Then
colorbar(maroon);
IdOggCross = DrawText(IdOggCross, 0, D, H, "Bearish", C, red, 8, 1+4, 1);
Endif;If positiondir = 0 then
colore = yellow;
elseIf positiondir = 1 then
colore = blue;
elseif positiondir = -1 then
colore = red;
endif;PlotChart(PositionDir, Indzona1, colore, solid, 2);
Edited by moderator 6 years ago
| Reason: Cleaned up code formatting to make it easier to read
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