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Pip Detector by Jose Silva for Metastock
Rating:
5 / 5 (Votes 1)
Tags:
metastock, pattern
Detects the smallest traded price movement (pip) on a chart.
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Indicator / Formula
Copy & Paste Friendly
{ Detects lowest historical Pip on chart }
{ Use on any periodicity }
{ Copyright 2005 Jose Silva }
{ For personal use only }
{ http://www.metastocktools.com }
noPip:=100;
p1:=If(H-O=0,noPip,H-O);
p2:=If(O-L=0,noPip,O-L);
p3:=Abs(If(O-C=0,noPip,O-C));
p4:=If(H-C=0,noPip,H-C);
p5:=If(C-L=0,noPip,C-L);
p6:=If(H-L=0,noPip,H-L);
p7:=Abs(If(O-Ref(C,-1)=0,noPip,O-Ref(C,-1)));
minPip:=Min(p1,Min(p2,Min(p3,Min(p4,Min(p5,
Min(p6,p7))))));
{ With thanks to MG Ferreira }
Lin2Log:=Log(Lowest(minPip)+.000001)/Log(10);
pip:=Exp((Int(Lin2Log)-1)*Log(10));
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