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The B-indicator is supposed to be bounded by 0 and 100. The article
is not available online but the link for the code below is
http://www.traders.com/Documentation/FEEDbk_docs/TradersTips/TradersT
ips.html
Thanks
METASTOCK: TREND-QUALITY INDICATOR
David Sepiashvili's article "Trend-Quality Indicator" introduces two
new indicators: the Q-indicator and B-indicator. Both can be added
to MetaStock using the formulas listed here.
To enter this indicator into MetaStock, do the following:
1. In the Tools menu, select Indicator Builder.
2. Click New to open the Indicator Editor for a new indicator.
3. Type the name of the formula.
4. Click in the larger window and type in the formula.
Name: Q-indicator:
Formula:
m:=Input("% Scalar trend period",1,25,4);
n:=Input("% Scalar noise period",1,500,250);
cf:=Input("% Scalar correction factor",1,250,100);
p1:=Input("First moving average periods",1,200,7);
p2:=Input("Second moving average periods",1,200,15);
rev:=BarsSince(Cross(Mov(C,p1,E),Mov(C,p2,E)) OR
Cross(Mov(C,p2,E),Mov(C,p1,E)));
cpc:=Cum(LastValue(Sum(ROC(C,1,$),LastValue(rev+PREV-PREV))+PREV-
PREV));
trend:=Mov(cpc,m,E);
dt:=cpc-trend;
noise:=C*Sqrt(Mov(dt*dt,n,S));
(trend/noise)*cf
Name: B-indicator
Formula:
m:=Input("% Scalar trend period",1,25,4);
n:=Input("% Scalar noise period",1,500,250);
cf:=Input("% Scalar correction factor",1,250,100);
p1:=Input("First moving average periods",1,200,7);
p2:=Input("Second moving average periods",1,200,15);
rev:=BarsSince(Cross(Mov(C,p1,E),Mov(C,p2,E)) OR
Cross(Mov(C,p2,E),Mov(C,p1,E)));
cpc:=Cum(LastValue(Sum(ROC(C,1,$),LastValue(rev+PREV-PREV))+PREV-
PREV));
trend:=Mov(cpc,m,E);
dt:=cpc-trend;
noise:=C*Sqrt(Mov(dt*dt,n,S));
(Abs(trend)/Abs(trend+noise))*cf
Figure 2 shows how these indicators look on a chart of SPY.
FIGURE 2: METASTOCK, TREND-QUALITY INDICATOR AND B-INDICATOR. Here
are the Q-indicator and B-indicator on a chart of SPY.
--- In equismetastock@xxxxxxxxxxxxxxx, "Jose" <josesilva22@xxxx>
wrote:
>
> Post the B-indicator here, and let's take a look at it.
>
> jose '-)
>
>
> --- In equismetastock@xxxxxxxxxxxxxxx, "billtrudeau"
<billtrudeau@xxxx
> > wrote:
> > Has anyone tried the B-indicator in the latest, April 2004, S&C?
I
> > believe that the formula is incorrect. The article says that the
> > denominator should be Abs(trend)+noise while the Traders' Tip
has
> > Abs(trend + noise). I believe that there may be additional
problems
> > and you need to be careful of your selection of the parameters
that
> > you use. Any thoughts?
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