Registered User
Joined: 10/7/2004
Posts: 3
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The following indicator was given to me in Metastock format. Can you convert it into a custom indicator for TC charts?
ADJHIGH:=If(HIGH<=Ref(CLOSE,-1),Ref(CLOSE,-1),HIGH);
ADJLOW:=If(LOW>=Ref(CLOSE,-1),Ref(CLOSE,-1),LOW);
ADJRANGE:=ADJHIGH-ADJLOW;
DBI:=((CLOSE-ADJLOW)/ADJRANGE)*VOLUME*(CLOSE-ADJLOW);
DSI:=((ADJHIGH-CLOSE)/ADJRANGE)*VOLUME*(ADJHIGH-CLOSE);
OBDI:=DBI-DSI;
Mov(OBDI,20,E)
It is written in MetaStock Language; but it's all math and shouldn't be too difficult. As for the abbreviations used, they are:
ADJHIGH = ADJUSTED HIGH, ADJLOW = ADJUSTED LOW, ADJRANGE = ADJUSTED RANGE, DBI = DAILY BUYING INTENSITY, DSI = DAILY SELLING INTENSITY, OBDI = ON BALANCE DAILY INTENSITY. Mov is a moving average. Ref refers to the past. Ref(Close,-1) refers to yesterday's close.
Thank you for your help.
Sir Bob
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Worden Trainer
Joined: 10/7/2004
Posts: 65,138
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I haven't tried to simplify it, but please try the following:
Select Chart Template | Add Indicator | Indicator.
-Visible: Checked
-Center Zero Line: Checked
-Plot using price scale: Unchecked
-Smoothing Average: 20
-Average Type: Exponential
-Indicator Formula: V * (((2 * C - C1 - L + ABS(C1 - L)) / 2) ^ 2 - ((H + C1 - 2 * C + ABS(H - C1)) / 2) ^ 2) / ((H - L + ABS(H - C1) + ABS(L - C1) + .00001) / 2)
You may wish to review the following:
Plotting Custom Indicators with Examples
-Bruce
Personal Criteria Formulas
TC2000 Support Articles
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Registered User
Joined: 1/1/2005
Posts: 2,645
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Sir Bob,
I think someone is pulling your leg.
TR = True Range
TRH = True Range High
TRL = True Range Low
OBDI = V*(2*C-TRH-TRL)
They likely meant to wind up with
OBDI = V*(2*C-TRH-TRL)/TR
A better formula would be
OBDI = V*(C-C1)/TR
I suggest you do not put a Moving Average on any, but plot them as Cumulative Indicators.
Bruce,
Did I make any mistakes?
Thanks,
Jim Murphy
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Worden Trainer
Joined: 10/7/2004
Posts: 65,138
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bustermu,
Your simplification appears to be spot on. I will not express an opinion on the usefulness of either the original Metastock formula or your suggested replacement.
-Bruce
Personal Criteria Formulas
TC2000 Support Articles
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