Elder Ray Average

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ElderRayAvg.efs  EFSLibrary - Discussion Board
  

File Name: ElderRayAvg.efs


Description:
Elder Ray Average


Formula Parameters:
Length: 13
Price Data To Use: Close

Notes:
Dr Elder uses a 13-day exponential moving average (EMA) to indicate
the market consensus of value. Bull Power measures the ability of
buyers to drive prices above the consensus of value. Bear Power
reflects the ability of sellers to drive prices below the average
consensus of value.

Download File:
ElderRayAvg.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:            Elder Ray AverageVersion:            1.0  09/23/2008Notes:    Dr Elder uses a 13-day exponential moving average (EMA) to indicate    the market consensus of value. Bull Power measures the ability of    buyers to drive prices above the consensus of value. Bear Power    reflects the ability of sellers to drive prices below the average    consensus of value.    Formula Parameters:                     Default:    Length                                  13    Price Data To Use                      Close**********************************/var fpArray = new Array();var bInit = false;function preMain() {    setPriceStudy(true);    setStudyTitle("Elder Ray Average");    setCursorLabelName("Average", 0);     setDefaultBarFgColor(Color.blue, 0);    setPlotType(PLOTTYPE_LINE,0);    setDefaultBarThickness(1,0);       var x=0;    fpArray[x] = new FunctionParameter("Length", FunctionParameter.NUMBER);    with(fpArray[x++]){        setLowerLimit(1);                setDefault(13);    }    fpArray[x] = new FunctionParameter("Price", FunctionParameter.STRING);    with(fpArray[x++]){        setName("Price Data To Use");        addOption("open");         addOption("high");        addOption("low");        addOption("close");        addOption("hl2");        addOption("hlc3");        addOption("ohlc4");         setDefault("close");     }}var xMyPrice = null;var xXA = null;function main(Length, Price) {    var  nXA = 0;    if (Price == null) Price = "close";    if (Length == null) Length = 13;    if ( bInit == false ) {         xMyPrice = eval(Price)();        xXA = ema(Length, xMyPrice);        bInit = true;     }     nXA = xXA.getValue(0);    return nXA;}