Metastock formulae

Austrader

Junior member
Hi all,

After reading through the post on Metastock, it seemed clear to me that the limitation that users are experience is focussed solely on the Metastock formula language.

I would firstly like to point current Metastock users in the direction of a number of resource bases where a multitude of Metastock formulae can be found. They are located at:

www.ozemail.com.au/~guppy
http://www.paritech.co.uk/education/technical/custom/default.asp
www.equis.com

As an aside, having also been a Metastock users for some years now, feel free to pass any formula requests my way, and I will (within reason) write the filters or system tests for you.

In around 8 weeks from now I will be releasing the Metastock Companion Guide, which is a book specifically designed to help those who wish to foray inot the world of Metastock formula writing.

Irrespective, Metastock comes prepackaged with an array of predefined filters, system tests, experts, etc; and for those who are going to upgrade to V7.2, the number grows considerably.
I find the flexibility of being able to find exactly what I want indispensable. For example, I'm big on trading breakout patterns. I look for tight trading ranges that have held support/ resistance for a period of 4 - 8 weeks, confirm internal strength and trade from the breakout. I can utilise all of these criteria in Metastock.

My trading range formula is:

((If(HHV(O,40)>HHV(C,40),HHV(O,40),HHV(C,40))) -
(If(LLV(O,40)>LLV(C,40),LLV(O,40),LLV(C,40))))<=(.1*C)

The above basically looks for a range that within the last 40 days has not expanded to more than 10% of the total cost per share.

I've created literally hundreds, if not thousands more, and as a support service to my clients (I work for Paritech), I actually write these formula and email to the client for free.

But as has been said before, I don't think that the formulae functions are the be all and end all. I have access to reams of different titles of software (we sell over 20 titles globally) ranging from basic charting through fundamental and option software right up to grey and black box titles, and call me biased, but once past the learning curve, I find the features and functionality better than anything else I've found on the market. Sure, it's not a posisiton manager, nor a fundamental tool, but in terms of tech analaysis functionality, I haven't come across anything better, the only equal being the old Tradestation.

Regards,
Austrader
 

DRAX

Junior member
AUSTRADER,

I would be grateful if could help me with a system test I wish to carry out. I will be using Metastock 7.2

Buy long or sell short when the market makes a higher high (or lower low) than it has made in the last 20 days or bars.

Exit position if the market makes a lower low (highest high) of the past 10 days or bars in the opposite direction against.


Kind regards
Drax
 

Austrader

Junior member
One formula which users consistently ask me for is based on Chris Mannings entry criteria of 10 day EMA crossing above 20 day EMA while 21 day RSI is above 50.

It's definetely not the be all and end all of formulae, but, it can be used to identify breakout or trend continuation activity. Definetely not to be used in ranging markets other than to keep watchlists for breakouts.

CROSS(MOV(C,10,E),MOV(C,20,E) AND RSI(21)>50

If there are any more formulae that you guys would like, please let me know.

Regards,

Austrader
 
austrader,

i've been looking at your site on paritech. It's nicely presented but contains a number of formulae copied from other sites that have typo's and errors in them.


Gap formula: has an incorrect filter; colb and colb don't exist and the gapup function returns 0 or 1; It looks like this filter has been copied from "Historical Volatility System, Connors and Raschke's"

Higher Closes - uses close, close-1 and close-2 to represent elements in the price array. this is incorrect and produces todays close, todays close minus one and todays close minus two.

try using close, ref(close,-1) and ref(close,-2) to obtain the result

3 inside days - same error as above; use the ref function.

rally, gap and inside day - I suspect that this has the same problem with referencing array elements. how can can you have an inside day and a gap at the same time?!

I usually find that it helps to use the Inspect function to TEST complex formulae before using them in anger!

Hope your book hasn't gone to press yet.
 

Austrader

Junior member
My book is independant of the Paritech web site, which isn't administered by me.

I will follow up though.

Cheers for the pointer!

Austrader
 

Uncle

Established member
Austrada.............nice to see your posts. I felt like the lone ranger on this BB for a long time, but of recent times, more members seem to be using Metastock.

Email me when your book is out together with cost delivered UK.

John
 

Austrader

Junior member
As a follow up to the previous emails,

I'm in the process of doing some major maintanence work to the Paritech education centre, which includes Metastock formulae among many other things.

I'm in the process of editing the formulae, and as an added value service, the user will have the capability of actually downloading MS formulae (rather than the old cut and paste).

Check it all out at : http://www.paritech.co.uk/education/technical/default.asp

Cheers,

Austrader
 

Jimbo

Newbie
Austrader

Chris Mannings RSI and Moving Average parameters are I believe intended as filters that must be passed before further consideration is given to stock selection. Actual buy and sell signals are generated by a variety of different signals. MACD/Price divergence is one of Chris Manning’s favourites.

If I may take up your offer of assistance would it be possible to devise a Metastock exploration for MACD/Price divergence?
Some Points to consider:
Manning favours 5/35/5 parameters for MACD. (I assume that the signal line parameter would be redundant in this particular application).
With “standard” Metastock MACD the parameters can not be varied.
It may also be useful as a first step to devise a Metastock indicator for MACD with variable parameters.

Regards
Jimbo
 
Metastock Companion Guide

Austrader said:
Hi all,

After reading through the post on Metastock, it seemed clear to me that the limitation that users are experience is focussed solely on the Metastock formula language.

I would firstly like to point current Metastock users in the direction of a number of resource bases where a multitude of Metastock formulae can be found. They are located at:

www.ozemail.com.au/~guppy
http://www.paritech.co.uk/education/technical/custom/default.asp
www.equis.com

As an aside, having also been a Metastock users for some years now, feel free to pass any formula requests my way, and I will (within reason) write the filters or system tests for you.

In around 8 weeks from now I will be releasing the Metastock Companion Guide, which is a book specifically designed to help those who wish to foray inot the world of Metastock formula writing.

Irrespective, Metastock comes prepackaged with an array of predefined filters, system tests, experts, etc; and for those who are going to upgrade to V7.2, the number grows considerably.
I find the flexibility of being able to find exactly what I want indispensable. For example, I'm big on trading breakout patterns. I look for tight trading ranges that have held support/ resistance for a period of 4 - 8 weeks, confirm internal strength and trade from the breakout. I can utilise all of these criteria in Metastock.

My trading range formula is:

((If(HHV(O,40)>HHV(C,40),HHV(O,40),HHV(C,40))) -
(If(LLV(O,40)>LLV(C,40),LLV(O,40),LLV(C,40))))<=(.1*C)

The above basically looks for a range that within the last 40 days has not expanded to more than 10% of the total cost per share.

I've created literally hundreds, if not thousands more, and as a support service to my clients (I work for Paritech), I actually write these formula and email to the client for free.

But as has been said before, I don't think that the formulae functions are the be all and end all. I have access to reams of different titles of software (we sell over 20 titles globally) ranging from basic charting through fundamental and option software right up to grey and black box titles, and call me biased, but once past the learning curve, I find the features and functionality better than anything else I've found on the market. Sure, it's not a posisiton manager, nor a fundamental tool, but in terms of tech analaysis functionality, I haven't come across anything better, the only equal being the old Tradestation.

Regards,
Austrader

Hi AUSTRADER,

I COULD BE INTERESTED IN YOUR BOOK "Metastock Companion Guide"

THINK YOUR POST MOST INTERESTING, THANKYOU

METALMICKY
 

zambuck

Experienced member
Austrader said:
....... Sure, it's not a posisiton manager, nor a fundamental tool, but in terms of tech analaysis functionality, I haven't come across anything better, the only equal being the old Tradestation.

Regards,
Austrader
Can't agree more about MS......

Would look out for your book....please post on this site when released...
 

zambuck

Experienced member
Thanks Jimbo...this has been pointed out in other posts under Metastock actually...

I think that at some stage we should add a separate sticky section for MS only with few items like this to prevent repeat pointers...I might have nice word with Rognvald and Sharky to see if it is feasible...

And perhaps add a directory of all indicators, explorations, system test etc etc...which will build up as people add their bits...

I have got a lots more pointers to sites dealing with MS which I would like to add to this site someday...

regards
 

Roman

Newbie
Filter out Options and Warranta

Austrader,
I just would like to filter out all the stocks longer than 3 letters from my exploration

Regards
Roman
 
Cool Trader

I have recently started using Metastock and find that the off large spikes make reading the graphs very difficult

After reading through the post on Metastock, it seemed clear to me that the limitation that users are experience is focussed solely on the Metastock formula language.

I would firstly like to point current Metastock users in the direction of a number of resource bases where a multitude of Metastock formulae can be found. They are located at:

www.ozemail.com.au/~guppy
http://www.paritech.co.uk/education/technical/custom/default.asp
www.equis.com

As an aside, having also been a Metastock users for some years now, feel free to pass any formula requests my way, and I will (within reason) write the filters or system tests for you.

In around 8 weeks from now I will be releasing the Metastock Companion Guide, which is a book specifically designed to help those who wish to foray inot the world of Metastock formula writing.

Irrespective, Metastock comes prepackaged with an array of predefined filters, system tests, experts, etc; and for those who are going to upgrade to V7.2, the number grows considerably.
I find the flexibility of being able to find exactly what I want indispensable. For example, I'm big on trading breakout patterns. I look for tight trading ranges that have held support/ resistance for a period of 4 - 8 weeks, confirm internal strength and trade from the breakout. I can utilise all of these criteria in Metastock.

My trading range formula is:

((If(HHV(O,40)>HHV(C,40),HHV(O,40),HHV(C,40))) -
(If(LLV(O,40)>LLV(C,40),LLV(O,40),LLV(C,40))))<=(.1*C)

The above basically looks for a range that within the last 40 days has not expanded to more than 10% of the total cost per share.

I've created literally hundreds, if not thousands more, and as a support service to my clients (I work for Paritech), I actually write these formula and email to the client for free.

But as has been said before, I don't think that the formulae functions are the be all and end all. I have access to reams of different titles of software (we sell over 20 titles globally) ranging from basic charting through fundamental and option software right up to grey and black box titles, and call me biased, but once past the learning curve, I find the features and functionality better than anything else I've found on the market. Sure, it's not a posisiton manager, nor a fundamental tool, but in terms of tech analaysis functionality, I haven't come across anything better, the only equal being the old Tradestation.

Regards,
Austrader[/QUOTE]
 

Pat494

Legendary member
Metastock

Great to see experts and others so interested in Metastock.
I have been trawling through umpteen formulae for years including writing my own.
Sadly I have reached the point where I wonder if there are any that are of use. i.e. make regular profits.
If anyone knows of a good one I expect the rest of us would be delighted to see it, me included.

I expect there are plenty of newcomers to trading who are confused by the plethora of choice and unable to seperate the worthwhile from the tosh. That is why I suggested a competition pitting different systems against each other for a substantial prize/recognition. Unfortunately not acted upon YET.

Happy trading
 
 
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