Formula Language
Custom indicators, system tests, explorations, and expert advisors are written using the MetaStock Formula Language. Loosely patterned after the Microsoft Excel formula language, the MetaStock Formula Language is tailored to the mathematics of technical analysis. There are 267 functions. Formulas can contain up to 2,500 characters (1,024 in the System Tester). A formula that computes the difference between a 39-day and 200-day simple moving average is shown below:
mov(close, 39, simple) – mov(close, 200, simple)
Formulas can also contain conditional statements using IF/THEN/ELSE as shown below:
If(close > mov(close,200,exponential),1, -1)
This would read as “if the close is greater than a 200-day exponential moving average then plot a 1, else plot a -1. Formulas can use variables as shown below:
X:= 39; Y:=200; mov(close, X, simple) – mov(close, Y, simple)
Formulas can prompt the user for input when plotted as follows: X:= Input(“How many periods for the moving average?”, 10, 200, 40); Mov(close,X,simple)
The variable X can range from 10 to 200 with a default value of 40. The value represented by the variable X is substituted in the moving average formula.
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