TFS: MBO

TFS_MBO.efs                                                                                                               EFSLibrary - Discussion Board

File Name: TFS_MBO.efs

Description:
TFS: MBO indicator

Formula Parameters:
Fastavg: 25
Slowavg: 200

Notes:
MBO indicator is the third component of TFS trading system. This indicator
was developed by Bryan Strain and Mark Whitley.
The idea of MBO is similar to moving average convergence/divergence (MACD)
indicator. It is calculated by subtracting the 200-day moving average from
the 25-day moving average.

Download File:
TFS_MBO.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: TFS: 
MBO indicatorVersion: 1.0 09/26/2008Notes: MBO indicator is the third 
component of TFS trading system. This indicator was developed by Bryan Strain
and Mark Whitley. The idea of MBO is similar to moving average
convergence/divergence (MACD) indicator. It is calculated by subtracting 
the 200-day moving average from the 25-day moving average.Formula Parameters:
Default: Fastavg 25 Slowavg 200 **********************************/

var fpArray = new Array();
var bInit = false;

function preMain() {
  setStudyTitle("TFS: MBO Indicator");
  setCursorLabelName("MBO", 0);
  setPlotType(PLOTTYPE_HISTOGRAM, 0);
  setCursorLabelName("ZeroLine", 1);
  addBand(0, PS_SOLID, 1, Color.blue);
  setDefaultBarFgColor(Color.red, 0);
  var x = 0;
  fpArray[x] = new FunctionParameter("FastAvg", FunctionParameter.NUMBER);
  with (fpArray[x++]) {
    setLowerLimit(1);
    setDefault(25);
  }
  fpArray[x] = new FunctionParameter("SlowAvg", FunctionParameter.NUMBER);
  with (fpArray[x++]) {
    setLowerLimit(1);
    setDefault(200);
  }
}
var xFastAvg = null;
var xSlowAvg = null;

function main(FastAvg, SlowAvg) {
  var nState = getBarState();
  if (nState == BARSTATE_ALLBARS) {
    if (FastAvg == null) FastAvg = 25;
    if (SlowAvg == null) SlowAvg = 200;
  }
  if (bInit == false) {
    xFastAvg = sma(FastAvg);
    xSlowAvg = sma(SlowAvg);
    bInit = true;
  }
  if (getCurrentBarCount() <= SlowAvg) return;
  var nMBO = xFastAvg.getValue(0) - xSlowAvg.getValue(0);
  return nMBO;
}