MetaStock® Professional

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What You Need to Run MetaStock ProMinimum Configuration• Microsoft Windows 98 (or higher)• Pentium 166 MHz• 32 megabytes of RAM• 50 megabytes of free hard disk spaceMinimum Configuration for Real-time DataCollection• Microsoft Windows 98 (or higher)• Pentium 233 MHz• 64 megabytes of RAM• 50 megabytes of free hard disk space for installation. An additional100 megabytes for real-time data.• A real-time data feed compatible with MetaStock Pro (e.g., DBCSignal, etc.)Recommended Configuration• Microsoft Windows 98 (or higher)• Pentium 233 MHz (or faster)• 128 megabytes of RAM• 50 megabytes of free hard disk space for installation. An additional200 megabytes (or more) for real-time data.• A real-time data feed compatible with MetaStock Pro (e.g., DBCSignal, etc.)Detailed information about your computer system is available from theAbout MetaStock command in the Help menu (see page 541).Two Quick Steps for Getting Up to Speed FastThe following steps will help you get up to speed as fast as possible.Ten Steps to ProductivityThe Ten Steps to Productivity, found in your Getting Started manual, area quick and easy way to immediately begin using MetaStock Pro. Theyprovide clear, illustrated, step-by-step instructions for getting aroundMetaStock Pro's visually oriented interface. It only takes 30 to 45minutes to go through these steps.2 • Getting Started MetaStock Professional
Quickstart buttonThe Quickstart TutorialsThe Quickstart Tutorials are on-screen tutorials of MetaStock Pro.Choose Quickstart Tutorials from the Help menu, or the Quickstartbutton wherever it appears in Help.Installing MetaStock ProRunning MetaStock ProMetaStock iconTo install MetaStock Pro from a CD1. Insert the Program CD into your drive. The setup program shouldstart automatically.If the auto-run feature of Windows isn't enabled on your system, clickthe Start button and choose the Run command. Type"D:\SETUP.EXE" in the Open box and click the OK button. (Notethat "D" represents the letter assigned to your CD-ROM drive. Ifyour drive is assigned a different letter, use it instead of "D".)2. Follow the on-screen instructions. You will be prompted to enter aSetup Key. Your Setup Key is found on the back of the CD case.To remove (uninstall) MetaStock Pro from your harddisk1. Choose Settings from the Windows Start menu.2. Choose Control Panel.3. Choose Add/Remove Programs.4. Choose MetaStock Professional and click the Add/Remove button.Important: Before your charts can receive real-time updates, you mustbe certain that the software supplied by your real-time data vendor isinstalled and operating correctly. For more information, see your GettingStarted manual.To run MetaStock Pro1. Choose Programs from the Start menu.2. Choose the Equis International folder.3. Choose MetaStock Professional.Tip of the DayEvery time you run MetaStock Pro you can see a MetaStock Pro tip tohelp you use MetaStock Pro more productively. You can display the Tipof the Day dialog at any time by choosing Tip of the Day from the Helpmenu. You can control the complexity of tips with the Options button.MetaStock Professional Getting Started • 3
Page 1 and 2: MetaStock®ProfessionalFor Windows
Page 3 and 4: ContentsGetting Started............
Page 7 and 8: Components of an Expert............
Page 9: Support and Resistance Levels .....
Page 14 and 15: Getting HelpEquis International sta
Page 17 and 18: The WorkplaceMicrosoft Windows Stan
Page 19 and 20: Copy buttonPaste buttonThe Copy com
Page 21 and 22: Use the Update Link command to refr
Page 23 and 24: 1. Right-click on the chart and cho
Page 25 and 26: The System menu contains commands t
Page 27 and 28: Accessibility OptionsMetaStock supp
Page 29 and 30: Restoring Factory DefaultsThe Defau
Page 31 and 32: Custom ToolbarThe custom toolbar pr
Page 33 and 34: To add a new item to the toolbar, c
Page 35 and 36: The chart toolbar can be displayed
Page 37 and 38: To float and dock a toolbar1. Doubl
Page 39 and 40: HELP! Using MetaStock Pro’s Help
Page 41 and 42: Context Sensitive HelpbuttonQuickst
Page 43 and 44: File Locations PageThe DownLoader.
Page 45 and 46: Note that this option is disabled i
Page 47 and 48: automatically be removed from the c
Page 49: Even though the menu bar is not vis
Page 52 and 53: Intraday data is basedon trades as
Page 54 and 55: local data folder can contain up to
Page 56 and 57: Using the Symbol Database to Create
Page 58 and 59: 7. Click the OK button in the New S
Page 60 and 61: Creating Data Folders for Your Secu
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the configuration settings will not
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Folders with MetaStock intraday dat
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The following are the Equis Data Se
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Controlling the Message LevelsAs th
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Create ButtonThe DownLoader icondes
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• The data for the current tradin
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Opening, Closing and Saving (Genera
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File Description. Enter a descripti
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Periodicity. Choose the desired per
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Save in. Use the drop-list to selec
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folder only. If you open IBM from t
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the Symbol Database. The Properties
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Saving Your Work with ChartsWhat is
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Displaying Existing ChartsOpen butt
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Specifying the Date Range When Load
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To close a chart1. Select the chart
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Use Smart Charts. Choose this optio
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This command is useful for quickly
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Combining Multiple Charts withLayou
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Scanning Charts in a LayoutMaking C
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Closing a LayoutSince a layout is a
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108nAutomatic climate control*Tips
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You can also apply a template when
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The Default TemplateYou can control
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To select a chartDo one of the foll
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Show Inner Window Splitter Bars. Ch
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Center. Choose the information to d
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Click the "Close Empty Inner Window
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window and selecting Inner Window,
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After maximizing the MACD's inner w
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For information on moving charts, s
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• Click the inner window's system
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4. Click the OK button.The x-axis o
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Right Margin. This box specifies ho
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ScaleThe Scale page is located in t
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To change the y-axis scale1. Right-
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2. Choose Chart Window Properties f
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Before using the Zoom Box...After u
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Printing Charts and DataIntroductio
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Chart Title. Check this box if you
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Use the Default Printer Settings. U
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All open charts are listedat the bo
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3. Click the Print What drop-list a
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Types of Price PlotsIf you close th
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Modifying a Price Plotbecause the d
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3. Click the OK button.KagiReversal
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See page 498 for interpretation inf
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3. Choose the desired price style a
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“Not” signCopying and Moving a
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To copy or move a price plot to a n
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• Select the price plot and choos
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ChartTips allow you to quickly disp
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Even when crosshairs are turned on,
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If an indicator is calculated on a
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Indicators buttonappear prompting y
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The following Properties dialog for
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The Horizontal Lines page allows yo
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Font Style. Choose the style for th
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Viewing Indicator Values with the D
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Time Periods. Enter the number of t
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efers to days if the chart contains
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Price Field. Choose the price field
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See page 167 for information on the
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median price (see page 481) is defi
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Parabolic SARThe parameters for the
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Price Rate-Of-ChangeThe parameters
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Random Walk IndexThe parameters for
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Relative Volatility IndexThe parame
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can edit the parameters of an exist
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the parameters of an existing plot
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Rate-of-Change. Enter the number of
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Line studies are attached to the cl
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and the y-axis value as you are dra
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Start Date. This is the date/time t
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When you drag a line study and drop
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4. Release the mouse button.Deletin
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EllipseThe parameters for an Ellips
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For general information on line stu
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Quadrant LinesYou can edit the para
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line studies, see page 205. For int
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method displays five lines ranging
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Working with the InternetInternet I
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Internet Shortcut MenusWhen a chart
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Current price data for the active c
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Free Broker Recommendations and Res
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The MetaStock Formula LanguageWhat
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Formula Functionscalculated). MetaS
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1. Enter what you do know in the Fo
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The first example calculates a stoc
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If you need to reference the value
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Of course, you could also assign mu
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The “P” Data Array IdentifierTh
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SpacingBlank spaces within formulas
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Error MessagesMost of the error mes
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FUNCTIONCalculates the predefined A
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standard deviations. Valid methods
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FUNCTIONReturns the cosine of DATA
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FUNCTIONPlots a +1 if DATA ARRAY 1
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Forecast OscillatorSYNTAX forecasto
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SEE ALSOThe hhv() function page 263
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FUNCTIONEXAMPLEInputSYNTAXFUNCTIONE
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of a 200-day moving average) then t
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Put another way, this function retu
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MinuteSYNTAXFUNCTIONminute()On an i
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EXAMPLESEE ALSOOutsideSYNTAXFUNCTIO
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Price Channel HighSYNTAX pricechann
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function (see page 272); the theta(
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EXAMPLEa negative PERIOD references
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Standard Error Band TopSYNTAXsteban
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EXAMPLE The formula "tsf( CLOSE, 10
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FUNCTIONCalculates the predefined V
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number of digits to the right of th
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Bearish Harami CrossSYNTAXbearharam
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DojiSYNTAXdoji()PATTERNINTERPRETATI
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PATTERNINTERPRETATIONHammerSYNTAXTh
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INTERPRETATIONMorning StarSYNTAXA m
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PATTERNINTERPRETATIONShooting StarS
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Creating Your Own IndicatorsWhat is
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2. Click the Display in QuickList c
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You can select multiplecustom indic
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Pasting Functions Into FormulasUse
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Prompt text. This defines the text
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Chaikin A/D OscillatorThe Chaikin O
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differences between the moving aver
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Binary Waves are the opposite of bl
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Interpreting a Binary WaveThe inter
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Division by zero. A formula is divi
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Testing Your Trading IdeasWhat is a
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The General page of the System Edit
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Step 4 - View the Results1. When yo
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Buy Order rule in the following ill
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esults according to that column's v
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Buy Arrow, Sell Arrow, Stop Sign, E
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that tells you how much space on yo
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Sell OrderThis rule specifies when
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If two stops are triggered on the s
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OptimizationsNew. Opens the Variabl
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Select SecuritiesClick Add Securiti
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Ready to Begin TestThis dialog summ
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Delay order opening ____ bars. Ente
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The Results Detail View DialogPlot
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• Buy & Hold Performance - The pe
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A value of "-50" means that the sys
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Details, measured in bars, about th
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open, and you sell at $15, your eff
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Printing ReportsYou can print the r
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Specifying the Optimization Variabl
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In the above example, OPT1 has thre
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this "after the fact" (an advantage
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The current position is determined
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Input() Function, Variables, and Mu
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If this were entered as the Buy Ord
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The Explorer Tutorialformula langua
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2. Enter the exploration name as "M
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A report showing the results will a
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Note that only those securities tha
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You can select multipleexplorations
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column formulas are written in Meta
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Stand-alone FiltersAlthough a filte
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Perhaps you want to divide your sec
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exploration. You can also use it to
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Viewing the ReportsUse a single sec
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Copy. Choose this to copy the entir
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Print. Choose this to print the con
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Long-term BullishThis exploration s
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• For your explorations to be val
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Using Pre-packaged Expertscolored r
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You can select multipleexperts by h
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Components of an ExpertHighlights.
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The expert ribbon is a small, narro
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The color and style of the symbol i
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To view Steve Achelis' pre-packaged
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You can also use the standard if()
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. This displays the date (and time
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…can be brought to life by using
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Writeif(cross(c,mov(c,21,s)," ")In
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Find What. Type the text to search
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Changing from bar to bar as describ
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20, and black when its between 20 a
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4. Click the Highlights tab.5. Chec
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system test. Much like the results
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Graphic. Choose the graphic to disp
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Move Up/Dn buttonsWhen the conditio
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Move Up buttonMove Down buttonMove
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Send alert to e-mail recipient. Che
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Expert Advisor button3. Choose the
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The syntax above is invalid because
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Interpretation of Indicators and Li
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Indicator Creator PageReferenceAccu
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Andrews' Pitchfork Andrews 449Envel
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Andrews' Pitchforkpenetrated, but a
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InterpretationIn his book, New Conc
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MetaStock Pro will use the previous
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price action can help identify tops
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• The scale is bounded between +1
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InterpretationA high CSI rating ind
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predictability, even a quick glance
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Directional MovementSee page 163 fo
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the trendiness of the market using
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Fibonacci StudiesThe resulting char
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Forecast OscillatorFourier Transfor
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geometric patterns and angles had u
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InterpretationBar charts, by themse
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of the Kagi chart is that when clos
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can be achieved. William's %R (see
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To determine if the trend is statis
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Market Facilitation IndexIn a syste
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The Mass Index is designed to ident
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Momentum =Closeref(Close,-10) x 100
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Because most investors feel more co
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average to increase its sensitivity
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Negative Volume IndexWhen you displ
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that is the most important to us--p
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InterpretationOn Balance Volume is
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Option ExpirationThe Option Expirat
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PerformanceThe Performance indicato
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Positive Volume Index• The middle
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• Expect a short-term pullback ag
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Where:C = Today's closing priceref(
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There are several ways to interpret
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negative), r-squared gives you the
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InterpretationMr. Poulos found sign
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Divergence. As discussed above, thi
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Relative Volatility Indeximpending
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If the market moves up more than th
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Standard Deviation ChannelSimilarly
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Bands are plotted at standard devia
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Stochastic OscillatorInterpretation
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Support and Resistance LevelsOscill
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InterpretationWilder notes the foll
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Time Series Forecastwith this insof
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to the sell side. If the absolute v
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paper). If you draw a line at 45 de
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InterpretationVertical Horizontal F
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Volume Oscillatorof "1" for every i
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TipAn example custom indicator (see
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Williams' Accumulation/Distribution
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AppendicesInformation About Your Co
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Program PerformanceUsing OptionScop
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Cohen, A.W. How To Use The Three-Po
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IndexAAbout MetaStock, 541Absolute
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Change security commands,83Channel
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viewing indicator values,174viewing
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tips, 395tutorial, 370Exponent func
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Inactivity stop, 335Indent custom i
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Lowest low value function,268Lowest
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Option() function, 276Optionsaccess
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Reaction with volumefunction, 278Re
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interpretation, 518parameters, 197S
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Trendline by angledrawing tips, 224
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