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MetaStock
Indicator - Regression
Oscillator and Slope/Close Indicator
rev. 02/25/97
In MetaStock 6.0
it’s easy to create the Regression Oscillator
and the Slope/Close Indicator from Richard
Goedde’s article, "Market timing with the
regression oscillator", which appears in the
March 97 issue of Technical Analysis Stocks and
Commodities magazine.
First choose Indicator Builder from the Tools menu
and enter the following formulas:
Regression
Oscillator
100 * (CLOSE/ LinearReg(CLOSE,63)-1)
Slope/Close
10000* LinRegSlope(CLOSE,63)/CLOSE
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Next drag each of
these formulas from the Indicator QuickList and
drop them on the heading of a chart. To create
horizontal lines, click the right mouse button
while the mouse pointer is positioned over the
Regression Oscillator to display the shortcut
menu. Choose Regression Oscillator Properties. On
the Horizontal lines page add horizontal lines at
14, 0, and -14.
You can use The
Explorer to perform the screen mentioned in the
article. First choose The Explorer from the Tools
menu, next create a new Exploration with the
following information:
Column
A
Name: Reg Osc
Formula: Fml("Regression
Oscillator")
Column B
Name: Slp/Cls
Formula: Fml("Slope/Close")
Filter
Formula: ColB > 50 and ColA >-15
and ColA < -5
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Choose OK and then
Explore to run the Exploration. For MetaStock for
Windows 5.x users the instructions are the same
except enter the following custom indicator in
place the ones mentioned earlier.
Regression
Oscillator
100 * (CLOSE/ ((63 * Sum(Cum(1) * C,63)
- Sum(Cum(1),63) * Sum(C,63)) / (63 *
Sum(Pwr(Cum(1),2),63) -
Pwr(Sum(Cum(1),63),2)) * Cum(1) +
(Mov(C,63,S) - Mov(Cum(1),63,S) * (63 *
Sum(Cum(1) * C,63) - Sum(Cum(1),63) *
Sum(C,63)) / (63 * Sum(Pwr(Cum(1),2),63)
- Pwr(Sum(Cum(1),63),2))))-1)
Slope/Close
10000* ((63 * Sum(Cum(1) * C,63) -
Sum(Cum(1),63) * Sum(C,63)) / (63 *
Sum(Pwr(Cum(1),2),63) -
Pwr(Sum(Cum(1),63),2)))/CLOSE
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