Ergotic MACD

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Ergotic_MACD.efs  EFSLibrary - Discussion Board
  

File Name: Ergotic_MACD.efs


Description:
Ergotic MACD


Formula Parameters:
r : 32

Notes:
This is one of the techniques described by William Blau in his book
"Momentum, Direction and Divergence" (1995). If you like to learn more,
we advise you to read this book. His book focuses on three key aspects
of trading: momentum, direction and divergence. Blau, who was an electrical
engineer before becoming a trader, thoroughly examines the relationship
between price and momentum in step-by-step examples. From this grounding,
he then looks at the deficiencies in other oscillators and introduces some
innovative techniques, including a fresh twist on Stochastics. On directional
issues, he analyzes the intricacies of ADX and offers a unique approach to help
define trending and non-trending periods.

Blau`s indicator is like usual MACD, but it plots opposite of meaningof
stndard MACD indicator.

Download File:
Ergotic_MACD.efs




EFS Code:






/*********************************Provided By:      eSignal (Copyright c eSignal), a division of Interactive Data     Corporation. 2008. All rights reserved. This sample eSignal     Formula Script (EFS) is for educational purposes only and may be     modified and saved under a new file name.  eSignal is not responsible    for the functionality once modified.  eSignal reserves the right     to modify and overwrite this EFS file with each new release.Description:            Ergotic MACD Version:            1.0  01/12/2009Formula Parameters:                     Default:    r                                   32Notes:    This is one of the techniques described by William Blau in his book    "Momentum, Direction and Divergence" (1995). If you like to learn more,    we advise you to read this book. His book focuses on three key aspects    of trading: momentum, direction and divergence. Blau, who was an electrical    engineer before becoming a trader, thoroughly examines the relationship     between price and momentum in step-by-step examples. From this grounding,    he then looks at the deficiencies in other oscillators and introduces some    innovative techniques, including a fresh twist on Stochastics. On directional     issues, he analyzes the intricacies of ADX and offers a unique approach to help     define trending and non-trending periods.    Blau`s indicator is like usual MACD, but it plots opposite of meaningof    stndard MACD indicator. **********************************/var fpArray = new Array();var bInit = false;function preMain() {    setStudyTitle("Ergotic_MACD");    setCursorLabelName("ErgMACD", 0);    setCursorLabelName("SigLin", 1);    setDefaultBarFgColor(Color.fushcia, 0);    setDefaultBarFgColor(Color.grey, 1);    addBand(0, PS_SOLID, 1, Color.blue);        var x=0;    fpArray[x] = new FunctionParameter("r", FunctionParameter.NUMBER);	with(fpArray[x++]){        setLowerLimit(1);		        setDefault(32);    }}var xMACD = null;var xMA_MACD = null;function main(r) {var nState = getBarState();    if (nState == BARSTATE_ALLBARS) {        if (r == null) r = 32;    }        if ( bInit == false ) {         xMACD = macd(r, 5, 5);        xMA_MACD = ema(5, xMACD);        bInit = true;     }         if (xMA_MACD.getValue(0) == null) return;        return new Array(xMACD.getValue(0), xMA_MACD.getValue(0));}