StockFetcher Forums · General Discussion · Feedback on creative use of INDPOSITION please<< >>Post Follow-up
styliten
75 posts
msg #155474
Ignore styliten
1/28/2021 12:38:11 AM

Felt INDPOSITION has been underutilized and trying to make amends on that. Here is an illustrative use.

Note: INDPOSITION normalizes the underlying indicator value between 0 and 1. Since people are more conditioned to see/respond to the scale of 0 to 100, I extrapolated the default value from INDPOSITION on the 0 to 100 scale so that 50 is the new neutral line.

Fetcher[dow 30
chart-time is 30 days

set{mcd1, indposition(MACD(6, 12, 9), 10) multiply by 65}
set{mcd2, indposition(MACD(12, 26, 9), 30) multiply by 35}
set{mcd3, mcd1 add to mcd2}

and draw cema(mcd3, 6) line at 48.0
and draw cema(mcd3, 6) line at 48.5
and draw cema(mcd3, 6) line at 49.0
and draw cema(mcd3, 6) line at 49.5
and draw cema(mcd3, 6) line at 50.0
and draw cema(mcd3, 6) line at 50.5
and draw cema(mcd3, 6) line at 51.0
and draw cema(mcd3, 6) line at 51.5
and draw cema(mcd3, 6) line at 52.0

set{cd1, indposition(clri(MACD(6, 12, 9), 5), 10) multiply by 65}
set{cd2, indposition(clri(MACD(12, 26, 9), 5), 30) multiply by 35}
set{cd3, cd1 add to cd2}

and draw cema(cd3, 6) line at 48.0
and draw cema(cd3, 6) line at 48.5
and draw cema(cd3, 6) line at 49.0
and draw cema(cd3, 6) line at 49.5
and draw cema(cd3, 6) line at 50.0
and draw cema(cd3, 6) line at 50.5
and draw cema(cd3, 6) line at 51.0
and draw cema(cd3, 6) line at 51.5
and draw cema(cd3, 6) line at 52.0
]




StockFetcher Forums · General Discussion · Feedback on creative use of INDPOSITION please<< >>Post Follow-up

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