Dear fellow MetaStock users,

I'm trying to plot the Will-Spread indicator by Larry Williams in MetaStock with the instructions I got from the net/forum. But my problem is that I get two lines (a spread line of the S&P and 10 years Treasury note and a Price/spread line)instead of one spread line?! I've tried several times to sort this out but I still get the two lines mixing through eachother.
I do noticed that al the instructions I've got are for MetaStock 6.5 and I use MetaStock 9.0 EOD, maybe that's a reason I can't seem to plot it correctly?!

Can someone please help me out cause I can't seem to fix it. Thank you very much in advance!

Best Regards,

Hung

Post the Will-Spread indicator instructions here, and we'll take a look at it.


jose '-)

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MetaStockTools.com

A1:=Security(".TNX",C);
A2:=Security(".SPX",C);
SPRD:=A1-A2;
B1:=Mov(Sprd,7,E);
B2:=Mov(Sprd,11,E);
B1;B2;

Dear Jose,

Thank you for your reply and sorry for my late reply but I've been away for 1 1/2 week.

Here is the "exact" Will-Spread indicator instructions found on the internet:

"The Larry Wiliams' indicator named WillSpread is quite easy to plot in MetaStock for Windows version 6.5. Using version 6.5 of MetaStock for Windows, please follow these steps.


Plot the underlying commodity.
Drag the Spread Indicator from the indicator quick list to this commodity chart.
Select either Tbonds or Tbills as the security to use to spread. I recommend you plot this in a new inner window.
Drag the Price Oscillator from the indicator quick list and drop it on the SPREAD plot, not the price plot. The parameters Mr. Williams' uses are 7 and 11 time period exponential moving averages. You also want to use "points" as the method. This plot is the WillSpread indicator.
At this point, you may change the Spread Indicator plot's color to match the background of the chart, or perhaps move the WillSpread indicator to a separate inner window.
If you save this first effort as a template, perhaps named WillSpread, you are able to apply this template to any commodity you wish and the indicator will be automatically calculated against that commodity.

You may also use the "Next Security" function within MetaStock for Windows to view each of your commodities by setting the options for next security to "Keep line studies". If you apply this template to the first commodity in your futures folder, you may then use the right arrow to move down the folder contents. Each new commodity will have the WillSpread calculated as it is loaded."

Hope you can help me. Thank you.

Best Regards,

Hung

Jose:

Post the Will-Spread indicator instructions here, and we'll take a look at it.


jose '-)[/quote

Yes, just follow the instructions - there is nothing to code there.


jose '-)

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MetaStockTools.com

Hi Jose,

I don't think there's anything wrong with the instructions/code but my problem is that I don't get one line after doing this. I always get to lines, one for the spread and one for the price oscillator and that's wrong. I still can't figure it out why I get two lines instead of one after fellowing the simple instructions.

Have you tried it yourself and do you get one Spread line?

Best Regards,

Hung

Jose:

Yes, just follow the instructions - there is nothing to code there.


jose '-)[/quote

Hung-

You will have at least 2 lines showing with the Price Oscillator: the plot and the Horizontal line. You can remove the horizontal line via Price Osc Properties | Horz Line and then delete. You may also have the original spread line showing as a third line. The price oscillator needs it for calculations... you can hide it: Right-click the spread, select properties, and set the line color to whatever your background color is. That will effectively hide it from your view.

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Traders' Consortium

Hi G. Stockman,

Thank you very much! I think I have it now.

Bye the way, do you know the formulae for calculating/identify a 52 week low of a stock?

Thank you!

Best Regards,

Hung

g_stockman:

Hung-

You will have at least 2 lines showing with the Price Oscillator: the plot and the Horizontal line. You can remove the horizontal line via Price Osc Properties | Horz Line and then delete. You may also have the original spread line showing as a third line. The price oscillator needs it for calculations... you can hide it: Right-click the spread, select properties, and set the line color to whatever your background color is. That will effectively hide it from your view.

Check this out: http://forum.equis.com/viewtopic.php?t=3458

Since we changed topics, please use the new thread above... sorry, there isn't a feature to join posts, so I just copied them with over. If you want to re-enter the original message, I'll gladly delete my copy.

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Traders' Consortium

Dear Stockman,

I want to use the "Market Thermometer" indicator to determine the range differences. For this I've used the following formulae:
Max(H-Ref(H,-1), Ref(L,-1)-L)

I'm not sure if this is the wright formulae cause it also give negative values and that's not what it suppose to give. It also gives small (histogram) readings after a large range day had accure and that's not correct either!

Can you help me with correcting the indicator so it plots the "real" market temperature which reflects the absolute value of either the upward or the downward extension of yesterday's range, whichever is greater.

Thank you very much!

Best Regards,

Hung

g_stockman:

Check this out: http://forum.equis.com/viewtopic.php?t=3458

Since we changed topics, please use the new thread above... sorry, there isn't a feature to join posts, so I just copied them with over. If you want to re-enter the original message, I'll gladly delete my copy.

Dear Jose,

I want to use the "Market Thermometer" indicator to determine the range differences. For this I've used the following formulae:
Max(H-Ref(H,-1), Ref(L,-1)-L)

I'm not sure if this is the wright formulae cause it also give negative values and that's not what it suppose to give. It also gives small (histogram) readings after a large range day had accure and that's not correct either!

Can you help me with correcting the indicator so it plots the "real" market temperature which reflects the absolute value of either the upward or the downward extension of yesterday's range, whichever is greater.

Thank you very much!

Best Regards,

Hung

Jose:

Yes, just follow the instructions - there is nothing to code there.


jose '-)[/quote

Hung, you'll need to ask the author of the "Market Thermometer" about it - I don't know what he (LW?) has in mind with it.


jose '-)

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MetaStockTools.com

antjinsan:

Can you help me with correcting the indicator so it plots the "real" market temperature which reflects the absolute value of either the upward or the downward extension of yesterday's range, whichever is greater.

Try this then:

Max(Abs(H-Ref(H,-1)),Abs(Ref(L,-1)-L));


wabbit :D

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MS: 6.52 EOD, 7.x EOD, 8.0 PRO, 9.2 PRO w/QC, 10 PRO w/QC C, 11 PRO w/QC & MDK
For custom MetaStock programming : http://www.wabbit.com.au
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Alexander Elder's "Market Thermometer" indicator is available from Equis sales: http://www.equis.com/products/thirdparty/?3PC-ADD-DETR
I have it, but I don't really use it. The concept is easy enough though. If you just want to look at different ways to do it, here is another example (very close to Wabbit's much simpler code):

Code:

MarketTemp:=
If(H<Ref(H,-1) AND L>Ref(L,-1),0,
If(H-Ref(H,-1)>Ref(L,-1)-L,
H-Ref(H,-1),Ref(L,-1)-L));
MarketTemp

Original author is unknown. I collected this one along the way.

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Traders' Consortium