Bollinger bands formula metastock
MetaStock is a proprietary computer program originally released by Computer Asset Management in It is used for charting and technical analysis of stock and other asset prices. MetaStock is a product of Innovative Market Analysis. In Steve Achelis started a company named Computer Asset Management to develop financial and technical analysis software for personal computers.
Frank Denneman
Computer Asset Management was renamed Equis International in The Market Mood Monitor was released in and was eventually renamed The Technician. The Technician, written for the IBM PC, helped investors analyze and chart broad market conditions using sentiment, momentum, and monetary indicators.
While The Technician analyzed broad market conditions, MetaStock analyzed individual securities stocks, futures, mutual funds, etc. InMetaStock 5. Later that year, MetaStock added support for the Reuters DataLink end-of-day data feed.
This relationship with Reuters led to Reuters purchasing Equis International and its MetaStock software in InMetaStock was released for the Reuters Quotron data feed and in for the Reuters Xtra electronic trading platform. MetaStock 15 released November, [5].
The MetaStock software package includes charting functionality in various styles, prebuilt technical indicators, scanning, filtering backtesting, line study drawing, forecasting, automated analysis, and custom indicator creation.
MetaStock includes nine core chart styles: All charts in MetaStock can be customized with linestyles, colors, indicators, text, symbols, templates, and alerts.
Up to charts can be displayed simultaneously. Charts can be resized and moved. Each chart supports indicators and trendline-based studies that are overlaid on the price bars or plotted in independent inner windows.
Colors, fonts, and line thickness can be adjusted to personal preferences. MetaStock includes over pre-defined indicators. In addition to the pre-defined indicators, users are able to create custom indicators using a spreadsheet-like formula language called the MetaStock Formula Language. The MetaStock Explorer allows traders to scan through thousands of securities using trading criteria to find the ones that fit their specific strategy.
Explorations are written using the MetaStock Formula Language. Traders can base their explorations off of the pre-built criteria included with MetaStock or they can use their own criteria. For example, a pre-built scan is included that shows a report of securities that are trading above their day moving average.
Another shows securities that have triggered a buy signal based on the MACD indicator. Explorations can be linked so that the filtered results of one exploration can subsequently be filtered by another. The Enhanced System Tester allows traders to create, back-test, compare, and optimize trading strategies before risking money in the markets.
System tests are written using an extended version of the MetaStock Formulas Language. The buy and sell conditions can be optimized in order to show the best performing parameters. For example, by optimizing, a trader can learn which moving average performed the best for IBM over the last five years.
The Expert Advisor reveals the interpretive analysis of industry professionals through alerts, commentary, symbols and trends. MetaStock allows for various types of alerts; from simple price and volume to complex indicator triggers and multiple conditions that show buy and sell signals. The expert commentary offered by MetaStock shows how experts would assess the chart being viewed.
The expert automatically alerts the user to special conditions using buy and sell arrows, text, audio, or video according to the analysis criteria. The MetaStock indicator builder is a formula writing module insta forex zero spread a wide array of math and investing functions.
Custom indicators are created by combining one or more formulas written in the MetaStock Formula Language. This language is somewhat similar to Microsoft Excel formulas.
Custom indicators can be referenced by system tests, explorations, and expert advisors with the fml function. Custom indicators, system tests, explorations, and expert advisors are written using the MetaStock Formula Language.
Loosely patterned after the Microsoft Excel formula language, the MetaStock Formula Language is tailored to the mathematics of technical analysis. There are functions. Formulas can contain up to 2, characters 1, in the System Tester. A formula that computes the difference between a day and day simple moving average is shown below:.
Formulas can use variables as shown below:. Why adoption of cloud computing has been slow can prompt the user for input when plotted as follows: In this example, the variable X can range from 10 to ; it has a default value of The value represented by the bollinger bands formula metastock X is substituted in the moving average formula.
A new tool called The Forecaster was introduced market indicators the best-kept secret to more effective trading and investing pdf MetaStock version This tool uses statistical analysis and other methods to analyze past events in order to forecast future price moves.
This power tool is on par with the System Tester, Explorer and Expert Advisor and is accessible from MetaStock's Power Console.
The cloud allows you visualize high probability future price movement through an analysis of price action following past events i. The forecast cloud can be overlaid directly on a chart to help see how the forecast performed in the past following each event.
A forecast cloud can be projected beyond the most recent day in order to see projected price movement into the future thereby allowing traders to set profit targets, stops, etc. A detailed statistical report shows specific probabilities for forecasted prices including margin of error, standard deviation and other metrics.
MetaStock uses data provided by Thomson Reuters Corporation. Real-time The real-time software uses XENITH. All regions come with FOREX data.
End-of-Day The end-of-day software uses DataLink. Historical daily data coverage begins in for North American equities, indices, and mutual funds, and as far back as for some futures.
Data records for MetaStock include up to 11 fields including: Date, Trade time, Name, Ticker, Open price, High price, Low price, Close price, Volume, and Open Interest. There are four files associated with the format: Prior to version In Metastock 12 this utility was removed. In addition to accessing live data through a direct connection with Thomson Reuters feeds, MetaStock A new DownLoader application was created to support the new file format, download data, and assist users in converting their data to the new file format.
Metastock formulas Smoothed Bollinger %b indicator SVE_BB%b
Add-ons provide additional functionality to MetaStock. For example, John Bollinger has created an add-on that gives buy and sell signals based on his popular Bollinger Bands. From Wikipedia, the free encyclopedia.
How to determine the narrowest point based on the Bollinger - Traders' Roundtable
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