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Wilson Relative Price Channel by Leon Wilson

[Editor's note: Article author Leon Wilson includes his version of MetaStock code for his strategy in his article in this issue.]

Leon Wilson's article, "The Wilson Relative Price Channel," introduces a new way to show overbought and oversold conditions. The procedure and formula for displaying these channel lines in MetaStock are given here.


Wilson Relative Price Channel

Periods:=Input("Channel Periods",1, 250, 34);
Smoothing:=Input("Smoothing", 1, 55, 1);
Value2:=Input("Over Bought", 50, 99, 70);
Value3:=Input("Over Sold", 1, 50, 30);
Value4:=Input("Upper Neutral Zone", 50, 99, 55);
Value5:=Input("Lower Neutral Zone", 1, 50, 45);
OB:=Mov(RSI(Periods)-Value2,Smoothing,E);
OS:=Mov(RSI(Periods)-Value3,Smoothing,E);
NZU:=Mov(RSI(Periods)-Value4,Smoothing,E);
NZL:=Mov(RSI(Periods)-Value5,Smoothing,E);
{OverSold}
CLOSE-(CLOSE*(OS/100));
{OverBought}
CLOSE-(CLOSE*(OB/100));
{NeutUp}
CLOSE-(CLOSE*(NZU/100));
{NeutLower}
CLOSE-(CLOSE*(NZL/100));


--William Golson
Equis International
www.MetaStock.com
Source / From: TOP
http://www.traders.com  

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