Trend Rider = (Mov(C, 10, E) - Mov(C, 30, E)) / (Mov(C, 10, E) + Mov(C, 30, E))
This multi-part formula categorizes market action into four specific states based on the relationship between price and volume. : Price Up, Volume Up (Bullish) : Price Up, Volume Down (Cautious Bullish) : Price Down, Volume Down (Accumulation) : Price Down, Volume Up (Bearish Distribution)
From its early days, the MetaStock platform has been praised for its powerful, built-in technical analysis tools. The true game-changer, however, has been the , which allows traders to move beyond pre-packaged indicators and create their own unique trading systems.
For momentum traders, scanning for "New Relative Strength" often involves measuring the Rate of Change (ROC) over multiple timeframes: : ROC(CLOSE, 21, %) 3 Month Momentum : ROC(CLOSE, 63, %) 12 Month Momentum : ROC(CLOSE, 250, %) 3. Zero Lag MACD
Start by identifying a gap in your current analysis—perhaps a missing divergence detector or a multi‑timeframe filter—and use the examples and resources in this article to build your first new formula. Test it thoroughly, refine it, and watch how it transforms your trading decisions. The only limit is your imagination and your understanding of the market. metastock formulas new
We want to find a candle with a long lower shadow (buying pressure) that
( ( 21 * Sum( ROC( CLOSE ,1 ,% ) * ROC( INDICATOR ,1 ,% ) ,21 ) ) - ( Sum( ROC( CLOSE ,1 ,% ) ,21) * Sum( ROC( INDICATOR ,1 ,% ) ,21 ) ) ) / ( (21 * Sum( Pwr( ROC( INDICATOR ,1 ,% ) ,2 ) ,21 )) - Pwr( Sum( ROC( INDICATOR ,1 ,% ) ,21 ),2 ) )
MetaStock formulas are essentially mathematical expressions that use a combination of technical indicators, operators, and functions to analyze and evaluate market data. These formulas can be used to create custom indicators, alerts, and even automated trading systems. By leveraging the power of MetaStock formulas, traders can gain a deeper understanding of market trends, identify potential trading opportunities, and make more informed investment decisions.
: Mov(C, 50, S) calculates a 50-period simple moving average of the closing price. Trend Rider = (Mov(C, 10, E) - Mov(C,
MetaStock Formulas: New Coding Techniques for Modern Markets
To cater to users of all skill levels, MetaStock provides two essential guides:
--- Trend-Confirm Composite --- RSI_Val := RSI(14);
MetaStock is a popular technical analysis software used by traders and investors to analyze financial markets and make informed investment decisions. One of the key features of MetaStock is its ability to create custom formulas, which allow users to define their own indicators, trading systems, and alerts. In this blog post, we'll explore the world of MetaStock formulas, including how to create them, some new and advanced techniques, and how to integrate them into your trading strategy. For momentum traders, scanning for "New Relative Strength"
Money Flow Multiplier Positive if close is in top half of range, negative if bottom half MF_Mult := ((C-L) - (H-C)) / (H-L);
Support and resistance lines are often subjective. This formula draws lines automatically based on recent fractal pivots (the highest high or lowest low of the last 5 bars).
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As you become more comfortable with MetaStock’s formula language, consider these advanced approaches to unlock even greater potential.
Conditions Bullish := Slope > Threshold AND Vol_Check; Bearish := Slope < -Threshold AND Vol_Check;