Elder Ray Average

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;
}