To view a short video on setting-up the "Clear method" click here.This is another way to use indicators with the VST Custom Strategy.
Copy/paste the formula below in to the MetaStock “Indicator Builder”.
Name the indicator “Clear method” without the quotation marks.
{Clear swing method based on S&C article "Getting Clear With Short-Term Swings":
http://www.traders.com/Documentation/FEEDbk_docs/2010/09/Black.html
Note that the MetaStock "Clear" code as provided by Equis at www.traders.com is incorrect.
Code adapted from VSTpro original code.
http://www.metastocktools.com/vst
Coded by Jose Silva at
http://www.metastocktools.com }
{ ----------- Start of custom code ----------- }
{User inputs}
swUp:=Input("Signals: Minimum UpSwing change %",0,25,0);
swDw:=Input("Signals: Minimum DwSwing change %",0,25,0);
rev:=Input("Reverse trade signals? [1]Yes [0]No",0,1,0);
display:=Input("Display: [1]'Clear' swing line [2]Signals",1,2,2);
{Ignore inside bars, avoid up/dw same-bar clash}
insideBar:=L>Ref(L,-1) AND H<Ref(H,-1);
{Clean price direction signals}
up:=H>Ref(H,-1) AND insideBar=0;
upSignal:=up AND Alert(up=0,2);
dw:=L<Ref(L,-1) AND insideBar=0;
dwSignal:=dw AND Alert(dw=0,2);
init:=Cum(IsDefined(upSignal+dwSignal))=1;
bin:=ValueWhen(1,upSignal-dwSignal<>0 OR init,
upSignal);
up:=bin*(Alert(bin=0,2)
OR upSignal*Cum(upSignal)=1);
dw:=(bin=0)*(Cum(bin)>0)*(Alert(bin,2)
OR dwSignal*Cum(dwSignal)=1);
{Clear Long/Short signals, swing line}
ClearUp:=Cross(L,ValueWhen(1,up,Ref(H,-1)))
AND insideBar=0;
ClearDw:=Cross(ValueWhen(1,dw,Ref(L,-1)),H)
AND insideBar=0;
init:=Cum(IsDefined(ClearUp+ClearDw))=1;
bin:=
ValueWhen(1,ClearUp-ClearDw<>0 OR init,ClearUp);
Clear:=If(bin,HighestSince(1,ClearUp,L),
LowestSince(1,ClearDw,H));
{Swing signals}
entry:=Clear>Ref(Clear,-1)*(1+swUp/100);
exit:=Clear<Ref(Clear,-1)*(1-swDw/100);
{ ------------ End of custom code ------------ }
{Reverse signals choice}
entry1:=entry;
entry:=If(rev,exit,entry1);
exit:=If(rev,entry1,exit);
{Display on price chart}
If(display=1,Clear,entry-exit)
{---------------End of copy/paste-----------}
Now that the indicator has been added to the ” Indicator Quick List” open any chart and apply the “VST Custom Strategy” template.
By using the " Formula Call [fml()] " function to calculate the value of another formula the user is able to reference the "Clear method" indicator without placing the complete indicator in to the VST Custom Strategy.
Open the “VST Custom Strategy” indicator and enter the code below.
{ ------------------------------------------ }
entry:=Fml("Clear method")>0;
exit:=Fml("Clear method")<0;
entry-exit
{ ------------------------------------------ }
Close the "VST Custom Strategy" indicator and click refresh chart, now the chart will display the
"Clear method" signals.
View the video for full details.
To view extra charts click here.
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