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In this short user’s manual we are gonna look at is analysis of metastock indicators.
They are very easy to work with in Metastock. And Metastock allows us to apply more 100 indicators. Some of these are explained in our sections.
For additional explanation about the indicators you can also use Metastock’s help menu.
So, let’s select we’ll select them MACD. The left click drag and drop the indicator. In this case we are gonna drop into the main chart window. When we release work even some options. Here we can modify time periods.
Remember that there are no set time periods. You should experiment and find what times work best for various securities. I recommend Fibo numbers.
Metastock macd histogram
We can see the different things that we can work with when placing something into our chart we click OK and will choose the display the new scale on a left hand side.
We click OK and here’s are indicator MACD with scaling on the left. Usually the MACD is not placed in the same chart, but is displayed separately.
So, to do this we undo, select it again and drop it under blue line. Click Ok and you can see that here it is displayed in a separate window.
Let’s close the MAcD window and select another indicator.
Let’s pick moving average.
We go to the same process where can we have time periods radical shift, horizontal shift, method and in this you will see the different methods used for calculating the moving average.
Let’s pick a exponential. And we will make it nineteen day-time period. And you’ll see in the price field its what prices we are gonna use – the opening, high, low, close, etc. and we’ll choose close we can work with the color of the line and here it is placed in our chart.
Buy signals occurred when the price line crosses and moves above the moving average and sell signals from the prices and moves below the moving average.
We can also in enlarge any section of the chart. And we do that like this: simply select the region, click then go.
In order to return our chart to its original view we simply click the the zoom reset button. So, you can see there are wide range of indicators we can use.
Metastock custom indicators.
Metastock also allows us to create our own indicator, by using the indicator builder.
And that’s here.
We click on them, are given a list of existing indicators.
Let’s see how can we make our own.
Click on new.
Here we see the place for the name of our indicator, and below that there we can put in the formulas or functions.
We click on functions.
And get a list of formulas that you can use to build your indicator. As you can see there is a wide variety and selection to choose from. Further, there are subcategorized on the left hand side under function category.
Let’s choose negative volume index.
In the parentheses we would type the time period and this is how a new indicator is born.
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