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Bull Fear and Bear Fear Expert for Metastock
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In Walter Downs’ article “From Terms To Technical Tools” he introduces the Point of Balance Oscillator, two conditions to color bars and two system tests. All of these can be created quite easily in MetaStock 6.5.
To highlight bars based on the Bull Fear and Bear Fear conditions discussed in the article, choose Expert Advisor from the Tools menu, click on the New button and enter the following expert.
Author: Walter Downs
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Indicator / Formula
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HIGHLIGHTS
Name: Bull Fear
Color: Blue
Condition:
n := 12 {Time periods};
BullFear := (HHV(HIGH,n) - LLV(HIGH,n))/2 + LLV(HIGH,n);
CLOSE > BullFear
Name: Bear Fear
Color: Red
Condition:
n := 12 {Time periods};
BearFear := (HHV(LOW,n) - LLV(LOW,n))/2 + LLV(LOW,n);
CLOSE < BearFear
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