Volume is the truest indicator of conviction. New formulas emphasize Volume Weighted Average Price (VWAP) variants and volume spikes over raw price movement. 3. Practical "New" Metastock Formula Examples
This multi-part formula categorizes market action into four specific states based on the relationship between price and volume. : Price Up, Volume Up (Bullish) : Price Up, Volume Down (Cautious Bullish) : Price Down, Volume Down (Accumulation) : Price Down, Volume Up (Bearish Distribution) metastock formulas new
Use Ref(X, -1) to look at previous bars, and Highest(H) to calculate breakouts 1.2.4. Volume is the truest indicator of conviction
For new trading systems, use the Expert Advisor to define highlighters, alerts, and symbols. Volume Up (Bullish) : Price Up
: You can build your own visual tools via the Indicator Builder .