Hello!
I have already bought MetaStock 11.0 EOD and I have read book by Elder Alexander "Trading for a living. Psychology. Trading. Tactics. Money Management". It explained so-called "Triple Screen Trading System". The very basic thing in this system is MACD HISTOGRAM (alternatively EMA). I found that in MetaStock there are only indicators MACD and MACD DEMA-smoothed, MACD TEMA-smoothed (whatever the difference between DEMA and TEMA is); I used the first one. However I couldn't find MACD histogram.
I tried the formula from here http://www.paritech.com.au/paritech-site/education/technical/custom/indicators/macd.asp for Weekly MACD Histogram and it was as follows:
Mov(If(DayOfWeek()=5,C,Peak(1,If(DayOfWeek()=5,C,0),1)),60,E)-
Mov(If(DayOfWeek()=5,C,Peak(1,If(DayOfWeek()=5,C,0),1)),130,E)-
Mov(Mov(If(DayOfWeek()=5,C,Peak(1,If(DayOfWeek()=5,C,0),1)),60,E)-
Mov(If(DayOfWeek()=5,C,Peak(1,If(DayOfWeek()=5,C,0),1)),130,E),45,E)
The formula from here http://www.meta-formula.com/Metastock-Indicators.html was different:
MACD()-Mov(MACD(),9,E);0
I decided to use the first one because they indicated it was for weekly values which was what I wanted to have. However, for many formulas (not all, but too many - those which have only about two years of emitting the share) it gave the error:
Period value out of valid range in Mov() function.
I just wonder - can anybody give me the proper formula for MACD histogram? I can plot MACD so if I can do it, it is also possible to create MACD histogram because it is only difference between two lines of MACD. The other useful thing would be line in the MACD histogram to distinguish between positive and negative values of histogram.
How is it possible that such a simple thing as MACD histogram is not present in MetaStock? I am not surprised that more sophisticated things as Elder-ray and Force Index are not present in this program (those are other parts of Triple Screen Trading System). But MACD histogram look like rather basic thing.
Can you give me, please, the formula for MACD histogram which will not create this error? If possible, give me also the TESTED link for explanation of creating Elder-ray (more important for me) and Force Index.
By the way - that should be simple thing - when I check the last two values from indicator, I move my mouse to the last value on the graph and then to the previous one (in order to compare last two values). It is not so comfortable to move the mouse. Is there any way just to list in the text way values of the indicator from several last days?
Thanks in advance for your help!
Regards!
I have already bought MetaStock 11.0 EOD and I have read book by Elder Alexander "Trading for a living. Psychology. Trading. Tactics. Money Management". It explained so-called "Triple Screen Trading System". The very basic thing in this system is MACD HISTOGRAM (alternatively EMA). I found that in MetaStock there are only indicators MACD and MACD DEMA-smoothed, MACD TEMA-smoothed (whatever the difference between DEMA and TEMA is); I used the first one. However I couldn't find MACD histogram.
I tried the formula from here http://www.paritech.com.au/paritech-site/education/technical/custom/indicators/macd.asp for Weekly MACD Histogram and it was as follows:
Mov(If(DayOfWeek()=5,C,Peak(1,If(DayOfWeek()=5,C,0),1)),60,E)-
Mov(If(DayOfWeek()=5,C,Peak(1,If(DayOfWeek()=5,C,0),1)),130,E)-
Mov(Mov(If(DayOfWeek()=5,C,Peak(1,If(DayOfWeek()=5,C,0),1)),60,E)-
Mov(If(DayOfWeek()=5,C,Peak(1,If(DayOfWeek()=5,C,0),1)),130,E),45,E)
The formula from here http://www.meta-formula.com/Metastock-Indicators.html was different:
MACD()-Mov(MACD(),9,E);0
I decided to use the first one because they indicated it was for weekly values which was what I wanted to have. However, for many formulas (not all, but too many - those which have only about two years of emitting the share) it gave the error:
Period value out of valid range in Mov() function.
I just wonder - can anybody give me the proper formula for MACD histogram? I can plot MACD so if I can do it, it is also possible to create MACD histogram because it is only difference between two lines of MACD. The other useful thing would be line in the MACD histogram to distinguish between positive and negative values of histogram.
How is it possible that such a simple thing as MACD histogram is not present in MetaStock? I am not surprised that more sophisticated things as Elder-ray and Force Index are not present in this program (those are other parts of Triple Screen Trading System). But MACD histogram look like rather basic thing.
Can you give me, please, the formula for MACD histogram which will not create this error? If possible, give me also the TESTED link for explanation of creating Elder-ray (more important for me) and Force Index.
By the way - that should be simple thing - when I check the last two values from indicator, I move my mouse to the last value on the graph and then to the previous one (in order to compare last two values). It is not so comfortable to move the mouse. Is there any way just to list in the text way values of the indicator from several last days?
Thanks in advance for your help!
Regards!
