| File Name: TetherLine.efs
Description: TFS: Tether Line
Formula Parameters: Length 50 Notes: Tether line indicator is the first component of TFS trading strategy. It was named this way because stock prices have a tendency to cluster around it. It means that stock prices tend to move away from the midpoint between their 50-day highs and lows, then return to that midpoint at some time in the future. On a chart, it appears as though the stock price is tethered to this line, and hence the name.
Download File: TetherLine.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: Tether LineVersion: 1.0 09/26/2008Notes: Tether line indicator is the first component of TFS trading strategy. It was named this way because stock prices have a tendency to cluster around it. It means that stock prices tend to move away from the midpoint between their 50-day highs and lows, then return to that midpoint at some time in the future. On a chart, it appears as though the stock price is tethered to this line, and hence the name.Formula Parameters: Default: Length 50**********************************/var fpArray = new Array();var bInit = false;function preMain() { setPriceStudy(true); setStudyTitle("Tether Line"); setCursorLabelName("Tether Line", 0); setDefaultBarFgColor(Color.green, 0); setPlotType(PLOTTYPE_LINE, 0); setDefaultBarThickness(1, 0); var x=0; fpArray[x] = new FunctionParameter("Length", FunctionParameter.NUMBER); with(fpArray[x++]){ setLowerLimit(1); setDefault(50); }}var xTether = null;function main(Length) {var nTether = 0;var nState = getBarState(); if (nState == BARSTATE_ALLBARS) { if (Length == null) Length = 50; } if ( bInit == false ) { xTether = middleDonchian(Length); bInit = true; } nTether = xTether.getValue(0); return nTether; } |
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