OBTR MetaStock Formula

[Tim Kruzel <TKruzel@xxxxxxxxxxxxxxxx>]

> ClaudB@xxxxxxx wrote:
> 
> Robert,
>
> I understand OBTR is an intraday indicator. Do you know if
> there is
> a way to code it for MS as a daily indicator?
>
> Claud
> 
> -----------------------------------------------------------------------------------------
For those interested in the On Balance True Range (OBTR)
indicator, here it is as a MetaStock function. I read the article 
by the OBTR's creator, T. Bierovic. If I interpreted the article 
correctly, this should be it. Let me know how it works.

Cum(If(C > Ref(C,-1),1,-1) * 
   (If(Ref(C,-1) < L,
       {Then} (H - Ref(C,-1)),
       {Else}
        If(Ref(C,-1) > H,
           {Then} (Ref(C,-1) - L),
           {Else} (H - L)
          ))))


Regards, Tim