Can anyone please give me formula for Elder-ray Oscillator and Force Index ??

aad · #1 30th July 2006, 12:48 AM

Dear all,

I am using Matastock and EOD data for analysis. I trade predominently on NSE. I wish to try the Tripple Screen system as suggested by Alexander Ray. I wish to use Elder-Ray Oscillator and / or Force Index as 2nd screen (with 1st screen being MACD Histogram) ? Can any senior guide on :

1. Usefulness of Tripple Screen System and its importance to Indian Stock Market ? Can it be used for stocks as well as derivatives (especially options) ?
2. If useful, then the combination of above (MACD being the 1st screen and Elder Ray / Force Index as 2nd screen) is alright or needs any change ?

I wish to have formula to buid these Elder-Ray Oscillator and Force Index in Metastock. I am using Metastock Professional version 7.2

Can anyone help on this please ?

Thanks,

AAD

marcus · #2 30th July 2006, 01:24 AM

hey aad who is your EOD provider?

uasish · #3 30th July 2006, 07:24 AM

Quote:

Originally Posted by aad

Dear all,

I am using Matastock and EOD data for analysis. I trade predominently on NSE. I wish to try the Tripple Screen system as suggested by Alexander Ray. I wish to use Elder-Ray Oscillator and / or Force Index as 2nd screen (with 1st screen being MACD Histogram) ? Can any senior guide on :

1. Usefulness of Tripple Screen System and its importance to Indian Stock Market ? Can it be used for stocks as well as derivatives (especially options) ?
2. If useful, then the combination of above (MACD being the 1st screen and Elder Ray / Force Index as 2nd screen) is alright or needs any change ?

I wish to have formula to buid these Elder-Ray Oscillator and Force Index in Metastock. I am using Metastock Professional version 7.2

Can anyone help on this please ?

Thanks,

AAD

Dear AAD,
There r 3 popular volume based indicators "On Balance Vol","Twigg's Money Flow" & "Dr Elder's Force Index".Each has its + & -.I use the following code for
Force Index:............................................ ...
fi:= V *(C- Ref(C,-1));
fi3:= Mov(fi,3,S);
fi13:= Mov(fi,13,S);
fi;
.................................................. .........
here fi3=Short term fi13=Long Term.U can Strip this into 3 Different or use 3in1 by adding ...........fi3;fi13;..........in 2 seperate lines after fi;.My humble
suggestion dont incur any expenses until u actually trade & garner some feel of these indicator .Then go for the 2nd step with Dr Elder's other indicators.
Remember market humbles us.In my last 5 yrs (each & every day,rarely i missed a day ) i have seen robust no of people (one who trades in Shorter Time Frame) r no longer with me.I have lost a fortune in my early year's.
Hence to sustain & earn 1st let the mkt humble you.
Regards
Asish

aad · #4 30th July 2006, 03:09 PM

Quote:

Originally Posted by marcus

hey aad who is your EOD provider?

SS Trend analysis Services Pvt. Ltd., New Delhi. Ph : 011-29218951 / 41435611. Find more at www.technicaltrends.com which happens to be their homepage.

Regards,

Abhay (AAD)

Dear Marcus,

I have given details of their package in this same thread while responding to siva...

Regards,

Abhay (AAD)

aad · #5 30th July 2006, 03:34 PM

Quote:

Originally Posted by uasish

Dear AAD,
There r 3 popular volume based indicators "On Balance Vol","Twigg's Money Flow" & "Dr Elder's Force Index".Each has its + & -.I use the following code for
Force Index:............................................ ...
fi:= V *(C- Ref(C,-1));
fi3:= Mov(fi,3,S);
fi13:= Mov(fi,13,S);
fi;
.................................................. .........
here fi3=Short term fi13=Long Term.U can Strip this into 3 Different or use 3in1 by adding ...........fi3;fi13;..........in 2 seperate lines after fi;.My humble
suggestion dont incur any expenses until u actually trade & garner some feel of these indicator .Then go for the 2nd step with Dr Elder's other indicators.
Remember market humbles us.In my last 5 yrs (each & every day,rarely i missed a day ) i have seen robust no of people (one who trades in Shorter Time Frame) r no longer with me.I have lost a fortune in my early year's.
Hence to sustain & earn 1st let the mkt humble you.
Regards
Asish

I sincerely appreciate your suggestions Asish... Recently even I had a glimpse of the scenario you mentioned but since I am following some (

) of the principles of Money management, losses were not too heavy. Obviously, my efforts are (now) concentrated to make myself as perfect as possible in analysing the scenario from a greater height and learn & apply Money Management principles as strictly as possible. I am not a day-trader and wish not to be so in time to come...

Further, thanks for force Index. I was able to download Elder-ray oscillator from http://www.guppytraders.com/gup98.htm but it does not contain Force Index. My next question to you is, which one amongst those mentioned by you (volume-based) is better, according to you ? Do you use any of these ? I do not wish to wait till market humbles me...

. so, I will definitely use your further advice while working on it...

Also, when I am building a new indicator and say I want its plotline to have a different format than normal (say, plotline in blue-colour and not as a line but as a histogram), how do I do that ? Also I wish that a horizontal blue line is drawn at zero each time this indicator is used. How to achieve this ? Currently, everytime I drag this indicator, I have to change its properties, which is irritating. I hope I am clear in expressing my problem.

Regards,

Abhay (AAD)

aad · #6 30th July 2006, 03:51 PM

Quote:

Originally Posted by aishvaryaus

dear All

use this to download daily EOD copy of the NSE stock list
http://www.nseindia.com/content/equi...oricaldata.htm
http://www.nseindia.com/content/equi...mbhav_arch.htm

regds
SIVA

Siva,

I use SS Trend Analysis (www.technicaltrends.com) as my EOD supplier. They not only send EOD data for NSE & BSE but also for NASDAQ. You also get data sectorwise (as separate and by default) on both exchanges. Further you get all indices. Moreover, you also get 30 min. data of selected (most active and with larger market capitalisation) scrips online. They charge an annual fee of Rs.8418/- (inclusice of Service Tax). I find it most convenient to have everything at one place so that in the evening, at the click of a button, data is downloaded and I am ready to do MY JOB... Of course, I do understand that this will vary from person to person and as per their requirements.

They also have higher end packages for real-time data. More at http://www.technicaltrends.com

Regards,

Abhay (AAD)

uasish · #7 1st August 2006, 09:06 AM

Quote:

Originally Posted by aad

I sincerely appreciate your suggestions Asish... Recently even I had a glimpse of the scenario you mentioned but since I am following some (

) of the principles of Money management, losses were not too heavy. Obviously, my efforts are (now) concentrated to make myself as perfect as possible in analysing the scenario from a greater height and learn & apply Money Management principles as strictly as possible. I am not a day-trader and wish not to be so in time to come...

Further, thanks for force Index. I was able to download Elder-ray oscillator from http://www.guppytraders.com/gup98.htm but it does not contain Force Index. My next question to you is, which one amongst those mentioned by you (volume-based) is better, according to you ? Do you use any of these ? I do not wish to wait till market humbles me...

. so, I will definitely use your further advice while working on it...

Also, when I am building a new indicator and say I want its plotline to have a different format than normal (say, plotline in blue-colour and not as a line but as a histogram), how do I do that ? Also I wish that a horizontal blue line is drawn at zero each time this indicator is used. How to achieve this ? Currently, everytime I drag this indicator, I have to change its properties, which is irritating. I hope I am clear in expressing my problem.

Regards,

Abhay (AAD)

Dear Abhay,
I am in a hurry mkt will open within 45 mins.Add a zero & semicolon after the line fi;so 0 line will be automaticaly drawn.Go to color & style after right clicking on any indicator ,then in style drop down box select the wave style it will change to histogram.
Rgards
Asish

gabibbo · #8 1st August 2006, 05:19 PM

Quote:

Originally Posted by aad

Also, when I am building a new indicator and say I want its plotline to have a different format than normal (say, plotline in blue-colour and not as a line but as a histogram), how do I do that ? Also I wish that a horizontal blue line is drawn at zero each time this indicator is used. How to achieve this ? Currently, everytime I drag this indicator, I have to change its properties, which is irritating. I hope I am clear in expressing my problem.

Regards,

Abhay (AAD)

AAD,

after having formatted your new indicator (along several others if you like... I don't remember what is the limit... ) you can save your work as a new Template... file>save as: template... then choose a name.

Best

gabibbo

aad · #9 1st August 2006, 08:01 PM

Quote:

Originally Posted by gabibbo

AAD,

after having formatted your new indicator (along several others if you like... I don't remember what is the limit... ) you can save your work as a new Template... file>save as: template... then choose a name.

Best

gabibbo

Yes Gabibbo.... thanks for your help..

Abhay (AAD)

Similar Threads for: Can anyone please give me formula for Elder-ray Oscillator and Force Index ??
Thread	Thread Starter	Forum	Replies	Last Post
Entries & Exits : Visits to 16 Trading Rooms by Alexander Elder	Traderji	Books	6	21st August 2006 05:26 PM
Can Any Body Give Bhavcopy	akashbothra	Data Feeds	4	4th January 2006 02:55 PM
tushar chand oscillator ''com''	uncle sam	Technical Analysis	2	13th May 2005 07:21 AM
CAN YOU ACCURATELY GIVE A FORECAST OF A FEW SHARES	DILKHUS	Your Feedback & Suggestions	12	7th September 2004 06:22 PM