V16:8 (395-397): Traders’ Tips

TRADESTATION/SUPERCHARTS

Here’s the Easy Language code for my article “From technical terms to technical tools.” Function Name: FearPobcOsc Inputs: Price(Numeric), Length(Numeric), Level(Numeric); Vars: AvgAvgs(0), HiPrice(0), LoPrice(0), AvgVal(0); Array: MPAvg[10](0); AvgAvgs = 0; MPAvg[1] = MidPoint(Price,Length);

MPAvg[2] = MidPoint(MPAvg[1],Length);

MPAvg[3] = MidPoint(MPAvg[2],Length);

MPAvg[4] = MidPoint(MPAvg[3],Length);

MPAvg[5] = MidPoint(MPAvg[4],Length);

MPAvg[6] = MidPoint(MPAvg[5],Length);

MPAvg[7] = MidPoint(MPAvg[6],Length);

MPAvg[8] = MidPoint(MPAvg[7],Length); MPAvg[9] = MidPoint(MPAvg[8],Length);

MPAvg[10] = MidPoint(MPAvg[9],Length);

HiPrice = Highest(Price,Level);

LoPrice = Lowest(Price,Level);

For value1 = 1 to Level begin

AvgAvgs = AvgAvgs + MPAvg[value1];

End; AvgVal = AvgAvgs/Level;

IF HiPrice - LoPrice <> 0 Then

FearPobcOsc = 100*((Close - AvgVal) / (HiPrice - LoPrice));

Indicator Name: Point of Balance Close Inputs: Price(close),Len(12), Level(10); Vars: PosNeg(0); If CurrentBar > Len*Level Then Begin PosNeg = FearPobcOsc(Price,Len,Level); If PosNeg > 0 Then Plot1(PosNeg,”FearOsc”) Else Plot2(PosNeg,”FearOsc”); End;

—Walter Downs