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Dynamic Multiple Time Frames
MetaStock Indicator
Here are the formulas described in the 1999 bonus issue of
"Technical Analysis of Stocks & Commodities" magazine in the article
"Dynamic Multiple Time Frames", p 45. All formulas are written to
use daily data. The lines are plotted as described in the article,
with the fixed lines only changing their values on the first day of
each week.
A sixth formula, Tendency, was added to indicate which way the price
will tend to move, based on the relationship between the Friday
close and the fixed balance point. This formula plots a value on
Thursday and on Friday just in case Friday is a market holiday. On
every trading week which includes Friday data, ignore the Thursday
value. A value of 1 means prices will tend up first and a value of
-1 means they will tend down.
Variables were used in places to simplify the formulas and to allow
the referencing of certain values in formulas that plot multiple
lines.
| Dynamic Balance Point |
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| Ref( HHV(H,5)+LLV(L,5)+C,
-1)/3 |
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| Dynamic BP Steps |
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WBPS:= Ref(
(HHV(H,5)+LLV(L,5)+C)/3,-1);
( WBPS + Ref(WBPS,-5) + Ref(WBPS,-10) + Ref(WBPS, -15) +
Ref(WBPS,-20) ) / 5 |
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| Fixed Balance Point |
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day:=DayOfWeek();
FBC:= If(day=1,
If(BarsSince(day=1)>5,
Ref( HighestSince(1,day=2,H) +
LowestSince(1,day=2,L)+C,-1)/3,
Ref( HighestSince(1,day=1,H) +
LowestSince(1,day=1,L)+C,-1)/3),
If(day=2 AND Ref(day,-1)>1,
If(BarsSince(day=1)>5,
Ref( HighestSince(1,day=2,H) +
LowestSince(1,day=2,L)+C,-1)/3,
Ref( HighestSince(1,day=1,H) +
LowestSince(1,day=1,L)+C,-1)/3),0));
ValueWhen(1,FBC>0,FBC) |
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| Support & Resistance |
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day:=DayOfWeek();
WR:= If(day=1,
If(BarsSince(day=1)>5,
Ref( HighestSince(1,day=2,H) - LowestSince(1,day=2,L),-1),
Ref( HighestSince(1,day=1,H) - LowestSince(1,day=1,L), -1)),
If(day=2 AND Ref(day,-1)>1,
If(BarsSince(day=1)>5,
Ref( HighestSince(1,day=2,H) - LowestSince(1,day=2,L),-1),
Ref( HighestSince(1,day=1,H) -
LowestSince(1,day=1,L),-1)),0));
WRV:= ValueWhen(1,WR>0,WR);
T1:=Fml("Fixed Balance Point") + (WRV*.5);
T2:=Fml("Fixed Balance Point") + (WRV*.618);
B1:=Fml("Fixed Balance Point") - (WRV*.5);
B2:=Fml("Fixed Balance Point") - (WRV*.618);
T1;
T2;
B1;
B2 |
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| Weekly BP Steps |
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(Peak(1,FmlVar("Fixed
Balance Point","FBC"),1) + Peak(2,FmlVar("Fixed Balance
Point","FBC"),1) +
Peak(3,FmlVar("Fixed Balance Point","FBC"),1)+
Peak(4,FmlVar("Fixed Balance Point","FBC"),1) +
Peak(5,FmlVar("Fixed Balance Point","FBC"),1) ) / 5 |
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| Tendency |
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If(DayOfWeek()=4 OR
DayOfWeek()=5, If((HighestSince(1,Cross(3,DayOfWeek()),H)+
LowestSince(1,Cross(3,DayOfWeek()),L)+C)/3<C,1,-1),0) |
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