Registered User
Joined: 10/7/2004
Posts: 13
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Thanks for your assistance with writing a custom formula for a 10-bar ma of midpoints subtracted from a 20-bar ma of midpoints. However, the problem I'm finding is that I can't identify when a given bar has less of a movement than its previous bar. In otherwords, is there any way I can write a custom indicator with this formula that would display the results in a fashion that would look more like a candlestick or open bar chart? This would enagble me to clearly identify when any given bar has less momentum than it's previous bar.
Thanks again.
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Worden Trainer
Joined: 10/1/2004
Posts: 18,819
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In order to have a bar or a candle, there has to be more than one plot per time segment. Your formula only has one plot per bar (H+L)/2 whereas price has open, high, low and close.
Make sense why it is plotted as a line?
I would consider adding a rate of change to your formula/indicator...
Right click on your indicator and add a rate of change. You can put a few different ones on there with different periods. I find ROC to be a great measure for uncovering if another indicator is gaining or losing momentum.
- Craig
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