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Variable Period Channel

Re: Variable period channel - need help with formula * To: metastock@xxxxxxxxxxxxx
* Subject: Re: Variable period channel - need help with formula
* From: "j seed" <jseed_10@xxxxxxxxxxx>
* Date: Wed, 30 Jan 2002 03:04:03 +0000
* Reply-To: metastock@xxxxxxxxxxxxx
* Sender: owner-metastock@xxxxxxxxxxxxx


> >From: Shashi Aggarwal <shashiag@xxxxxxxxxx>
> >Reply-To: metastock@xxxxxxxxxxxxx
> >To: "Metastock Digest (E-mail)" <metastock@xxxxxxxxxxxxxxxxxx>
> >Subject: Variable period channel - need help with formula
> >Date: Sun, 27 Jan 2002 12:58:13 -0600
> >
> >I was trying to create a variable-period channel indicator, as follows:
> >
> >Days:= Round(150/ADX(14));
> >HHV(H,Days);
> >LLV(L,Days);
> >
> >[Note: The round function is merely to round up or round down the resulting
> >fraction to the nearest integer].
> >
> >However, I get this error message: "This variable or expression must contain
> >only constant data" (referring to the variable 'Days' in the HHV & LLV
> >arguments). [Note: the error message is also there when I substitute
> >PriceChannelHigh(Days) for HHV(H,Days) and PriceChannelLow(Days) for
> >LLV(L,Days)].
> >
> >One workaround I came up with is to modify the Days argument, as follows:
> >
> >Days:= LastValue(Round(150/ADX(14)));
> >HHV(H,Days);
> >LLV(L,Days);
> >
> >However, while this makes the error message go away, it results in a price
> >channel that is based on the last value of 150/ADX(14) and this is constant
> >across the entire chart. This, of course, defeats the purpose of the
> >indicator as I want the channel length to vary with the 14-day ADX across
> >the entire chart - thus, when ADX is high, the channel length will be short
> >& vice versa.
> >
> >Can anyone suggest a solution? Thanks.
> >
> >Shashi

>From: Shashi Aggarwal <shashiag@xxxxxxxxxx>
>Reply-To: metastock@xxxxxxxxxxxxx
>To: "Metastock Digest (E-mail)" <metastock@xxxxxxxxxxxxxxxxxx>
>Subject: Re: Variable period channel - need help with formula
>Date: Tue, 29 Jan 2002 14:02:01 -0600
>
>Seed,
>
>I used the "If" argument as you described, but still got the same error
>("This variable or expression must contain only constant data"), so that
>appears to be a dead end.
>
>Your 2nd suggestion is interesting; however, since I am not a computer
>scientist/programmer, I don't know how to create a DLL. Do you know if
>anyone has created a variable-length DLL, or where it might be available
>(is there a repository for Metastock DLLs that you are aware of?)?
>
>Shashi
>
>------------------------------
>
>Date: Mon, 28 Jan 2002 21:37:45 +0000
>From: "j seed" <jseed_10@xxxxxxxxxxx>
>Subject: Re: Variable period channel - need help with formula
>
>Shashi,
>
>Welcome to the "Metastock Coding Nightmare World"!
>
>Metastock will not allow variables that are dynamic in the way that you have
>described..."thus, when ADX is high, the channel length will be short & vice versa".
>
>The work arounds would be:
>
>1. Use "If" statements to define the value of the channel length at various ADX levels.
>
>2. Use a variable length DLL. These are not widely available but do exist.
>
>Let us know how it turns out.
>
>J.


Shashi,


Variable Period Channel

DAYS:= Round(150/ADX(14));
HDDX:=If(DAYS>10,HHV(H,5),If(DAYS>5 AND DAYS<10,HHV(H,10),HHV(H,15)));
LDDX:=If(DAYS>10,LLV(L,5),If(DAYS>5 AND DAYS<10,LLV(L,10),LLV(L,15)));
HDDX;
LDDX;

 

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