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Market Thrust Oscillator by Tushar Chande
rev. 01/06/97

The following formulas were taken from the article,"The Cumulative Market Thrust Line", by Tushar Chande, in the December 1993 issue of Technical Analysisof Stocks & Commodities.

Taken from Stocks & Commodities, V. 11:12(506-511): The Cumulative Market Thrust Line by Tushar S. Chande, PhD.

"STOCKS & COMMODITIES contributor Tushar Chandeoriginally introduced the concept of market thrust in August 1992 as a method by which to overcomethe limitations of the Arms index. Since then, variations have been suggested on the theme andhere,Chande offers the variation of a cumulative market thrust line,in which market thrust is cumulated to calculatea volumetricadvance-decline line by including the effect of up and downvolume."

Composite securities are created from 4 separate files. Advances, Declines, Upvolume, Downvolume.
The article side bar presupposes the user hasthese four files.

Reuters Trend Data (RTD) supplies this data intwofiles. The tickers are X.NYSE-A
(Advances, number and volume) and X.NYSE-D (Declines, number and volume).
To use these two files, you must utilize twodifferent custom formulas and the indicator buffer in MetaStock for DOS.

CompuServe supplies this data in 4 files. Thetickersare NYSEI (Advances); NYSEJ (declines); NYUP (Advance volume) and NYDN (decline volume).

Dial/Data supplies this data in two files. Advances,number and volume and Declines, number and volume. The tickers are @*NAZ_K and @*NDZ_K.

For the Windows versions of MetaStock:

For RTD and Dial Data:

#1: C * V
#2: 100 * ( ( P - ( C * V ) ) / ( ( P + ( C *V ) )) )

To plot it:

Load advances, plot formula #1.
Load declines.
Drag the plotted formula #1 fromthe advances in to the declines chart.
Plot the thrust indicator formula(#2) directly on top of the plotted formula #1 in the declines chart.

For CompuServe data:

#1: C
#2: 100 * ( ( P - C ) / ( ( P + C ) ) )

Top plot it:

Create a composite of the Advances* Up Volume
Create a composite if the Declines* Down Volume
Load advances composite , plot formula #1.
Load declines composite.
Drag the plotted formula #1 fromthe advances in to the declines chart.
Plot the thrust indicator formula(#2) directly on top of the plotted formula #1 in the declines chart.

** To create the cumulative thrust oscillatorline perform the same steps as above except change formula #2 to:

Cum(100*(P-C)/(P+C)) for CompuServe data
Cum(100*(P-(C*V))/(P+(C*V))) for RTD and DialData

** To create the cumulative market thrust line,theformula is:

Cum(P-C) for CompuServe data
Cum(P-(C*V)) for RTD and Dial Data


MetaStock'u 7.0 możesz skorzystać z funkcji Security("XX",YY) gdzie XX to symbol spółki, a YY to jedna z wartości - O, H, L, C, V, OI . Dane o liczbie spółek wzrostowych są w tym przypadku zapisane w kolumnach O, H, L, C a ich wolumen w kolumnie V - jako jeden walor.

Dla przykładu:

Nazwa - ";Spółki wzrostowe",
Symbol - "X.NYSE.A" (gdzie A=Advance),
Kolumny O=H=L=C - liczba spółek, które wzrosły,
V - wolumen dla tych spółek.

Podobnie jest ze spółkami spadkowymi. Dla nowych rocznych maksimów i minimów odpowiednie dane powinny przyjąć następującą postać:

Nazwa - "New High (52)"
Symbol - "X.NYSE.H" (gdzie H=High(New))
Kolumny O=H=L=C - liczba spółek, które mają nowe roczne szczyty.

I analogicznie dla "New Lows (52)".

I tak Security ("X.NYSE.A",V) wpisane w polu formuł modułu "Indicator Builder" zwróci jako wskaźnik wolumen spółek, które na danej sesji wzrosły.

Przy użyciu tej funkcji formuła powyższego wskaźnika wygląda następująco:


Market Thrust Oscillator - NYSE

100 *
( (( Security("X.NYSE-A",C) * Security("X.NYSE-A",V) ) -
( Security("X.NYSE-D",C) * Security("X.NYSE-D",V)) ) /
( (( Security("X.NYSE-A",C) * Security("X.NYSE-A",V) ) +
( Security("X.NYSE-D",C) * Security("X.NYSE-D",V)) )) )

 


Cumulative Thrust Oscillator Line - NYSE

Cum(100 *
( (( Security("X.NYSE-A",C) * Security("X.NYSE-A",V) ) -
( Security("X.NYSE-D",C) * Security("X.NYSE-D",V) )) /
( (( Security("X.NYSE-A",C) * Security("X.NYSE-A",V) ) +
( Security("X.NYSE-D",C) * Security("X.NYSE-D",V) )) )) )

 

 


Cumulative Market Thrust Line - NYSE

Cum(
( Security("X.NYSE-A",C) * Security("X.NYSE-A",V) ) -
( Security("X.NYSE-D",C) * Security("X.NYSE-D",V) ) )

 

Source / From: TOP
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