After years of using METASTOCK, I am gradually becoming familiar with Easy Language/Power Language. But for the life of me I am unable to EL/PL Welles Wilder’s Volatility System.
I wish to use an adapted version of this system as a MULTICHART ShowMe, so that a Buy would place an upward pointing blue arrow under the price bar and a Sell would place a downward pointing red arrow above the price bar.
Here is the METASTOCK formula:
Cross(C,Ref(LLV(C,7),-1)+(Ref(ATR(7),-1)*3)) AND ADX(14) > 25
Cross(Ref(HHV(C,7),-1)-(Ref(ATR(7),-1)*3),C) AND ADX(14) > 25
I shall be extremely grateful for any assistance.
Translating METASTOCK Formula into EL/PL
Questions about MultiCharts and user contributed studies.
3 posts • Page 1 of 1
It should be something like this:
Code: Select all
if close crosses above (lowest(close,7) + AvgTrueRange(7)[-1] * 3) and ADX(14) > 25 then
buy this bar at close;
if close crosses below (highest(close,7) - AvgTrueRange(7)[-1] * 3) and ADX(14) > 25 then
sell short this bar at close;