Metastock Formula - Buy / Sell Indicators

[mani.buzzingstocks]

Lakefire Expert

Buy Arrow:

X:=Mov(C,5,E);
Y:=Mov(O,6,E);
Cross(x,y)

Sell Arrow:

X:=Mov(C,5,E);
Y:=Mov(O,6,E);
Cross(y,x)

[mani.buzzingstocks]

Formula for, cross of the 5 period exponential moving average of the close above the 6 period exponential moving average of the open for a BUY signal amd vice versa for a SELL signal. The signal will show as UP arrow and Down arrow marked in different colours.

buy:=Cross( Mov(C, 5, E ) , Mov(O, 6, E )) ;
sell:=Cross( Mov(O, 6, E ) , Mov(C, 5, E )) ;
If(buy,1,If(sell,-1,0));

[mani.buzzingstocks]

Open Metastock, Click on Tools->Expert Advisor->New and enter whatever name you want to give.

Then Click the Highlights tab -> New -> enter Bullish as name. Under condition add:
Mov(C, 5, E ) > Mov(O, 6, E ), Select colour as Blue. Click Ok.

Then similarly add an another condition under Highlights called Bearish under it add:
Mov(O, 6, E ) > Mov(C, 5, E ), select colour as Red and click ok.


For the BUY and SELL arrows:

Add the following two conditions under Symbol.

BUY

Cross( Mov(C, 5, E ) , Mov(O, 6, E ))

Select the appropriate symbol.

SELL

Cross( Mov(O, 6, E ) , Mov(C, 5, E ))

Select the symbol.

Click ok -> ok.

TO display this expert advisor, open any chart, then right click, select Expert Advisor -> Attach. Select the Expert Advisor you had jus made then click on Ok.