MetaStock® Professional

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OLE links are created by copying data from one OLE compatibleWindows application and then pasting it (using the Paste Specialcommand in the Edit menu) to the other application. The followingillustration shows the Paste Special dialog found in Microsoft Excel(typical of others).When using the Paste Special dialog, be sure to look at the helpfulmessages at the bottom of the dialog. These instructions will guide youthrough the process of creating the link.If you right click on an indicator in MetaStock Pro that has been pastelinked from another application (i.e., Excel, Lotus 123, etc.), two optionsappear in the shortcut menu—Update Link and Open Link.10 • The Workplace MetaStock <strong>Professional</strong>
Use the Update Link command to refresh the indicator in MetaStock Prowith the data from the server application (i.e., Excel, Lotus 123, etc.).Choose Open Link to open the server application so that you can edit thedata in the server application.Note that links to a real-time chart in MetaStock Pro can adversely affectMetaStock Pro's performance, especially if intense calculations areinvolved. A warning message appears if you attempt to create an OLElink to a real-time chart.To create an OLE link between an indicator in aMetaStock Pro chart and an Excel spreadsheet1. Display the desired chart and indicator in MetaStock Pro.2. Right-click on the indicator plot and choose Copy from the shortcutmenu. Note that you could also copy the security's prices instead ofthe indicator (if desired).3. Open (or switch to) your spreadsheet.4. Position the cursor at the desired location within the spreadsheet.5. Right-click on the cell and choose Paste Special from the shortcutmenu.6. Choose the Paste Link radio button and choose Csv from the list.Click OK. Csv stands for "comma separated values."(Note that Excel 7.0 and earlier can only handle a Paste Link of about1,000 records. Excel 97 doesn't have this limitation).The link has now been created. If changes are made to the indicator inMetaStock Pro (e.g., different number of time periods, etc.) the changesMetaStock <strong>Professional</strong> The Workplace • 11
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 12 and 13: What You Need to Run MetaStock ProM
Page 14 and 15: Getting HelpEquis International sta
Page 17 and 18: The WorkplaceMicrosoft Windows Stan
Page 19: Copy buttonPaste buttonThe Copy com
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
Page 62 and 63: the configuration settings will not
Page 64 and 65: Folders with MetaStock intraday dat
Page 66 and 67: The following are the Equis Data Se
Page 68 and 69: 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
Page 93 and 94:
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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