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Advance/Decline Line with Negative Volume
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| Added: December 04, 2006 |
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| Tags:
MetaStock, indicator
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There is a way to get the negative volume on an advance-decline linechart in MetaStock
for Windows?.
The requirement is: Each security must have both the number of issuesand the volume
in the file.
Advancing issues with advancing volume in one security and decliningissues with
declining volume in one security file.
These files may be obtained from Reuters Trend Data by way of The DownLoader for
Windows. You will also need to create
a composite security of the Advance-Decline line, which is the advances- declines.
The following steps will get you an advance-decline line with negative volume
where applicable.
Follow these steps once and save as a CHART. When you want to use itsimply load
the chart and the program
will calculate the new volume plot using the new data.
Create a NEW chart of the advancing issues.
Create a NEW chart of the declining issues.
Create a NEW chart of the advance-decline composite.
Create a NEW INNER WINDOW on the declining issues chart.
Delete the volume plot on the advance-decline composite chart.
Copy the volume from the advancing issues chart and paste it into the newinner
window on the declining issues chart.
Drop the custom formula, P-V on the advancing volume plot in the decliningissues
chart, creating a new scale.
Copy that plot to the empty inner window (where the volume was) of theadvance-decline
composite.
Save that chart as the adv-decl chart (perhaps advdecl.mwc).
This will be the chart you load to do your study of the advance-declineline
with negative volume.
Code:
Source: http://www.equis.com
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