Partial List of Indicators for MetaStock for Windows

(This is not an exhaustive list, only the key indicators are shown.)

AlphOmega Absolute Elliott: This indicator provides the waves as defined by Elliott in an absolute manner; the trend is established as soon as the high is higher than the day before or the low lower than the day before. There is no filtering of waves and the indicator goes from highs to lows; the close or the open are not used. Its main use is to show which array (open, close, high or low) is selected according to the rules of the set.

AlphOmega ADI: This indicator provides the accumulation distribution index of the security using moving averages. This is not compared to another index or issue. The variable “ADI” can be used in a formula.

AlphOmega Auto WLR: This indicator provides the linear regression of the security using the closing price since the start of the wave. There is a sensitivity input and it has a variable “Tlr” to be used in formulas. You can select the sensitivity to match the time frame or wave size you want to study.

AlphOmega Bars since Signal: The purpose of this indicator is to tell you how many bars since the wave was recognized. It incorporates a few variables such as “BarsO” that is the bar count, “TotSig” is a cumulative count of the signals i.e. waves. You can select the sensitivity for the waves to align your indicator to the expert used.

AlphOmega Consolidation/Triangle: This indicator requires an input for the sensitivity of the waves investigated. The output is binary and tells you the security could be entering a consolidation or triangle pattern. It is not trending at that point. You want to adjust the sensitivity for the waves to the expert used.

AlphOmega DI/Storsi Trend: This indicator generates automatically a trend line on either the Demand Index or the Storsi. It uses Peak or Low functions so that the sensitivity should be adjusted to your preference. If there is no trend, the line is flat at the last peak or trough.

AlphOmega Elliott Retracement: This indicator is a measurement of the retracement of the actual wave versus the previous. It has three variables: “Prime” is the retracement percentage, “Second” is the third wave from the start retracement versus its preceding wave, “Combi” is the sum of “Prime “and “Second”.

AlphOmega Gann Price: This indicator plots price levels of the next wave using Gann geometry. In this case, a line is drawn at each eight of the price range of the previous wave. Many other types are available through the AO indicators where you input the date from which the calculation must start; however this indicator is fully automatic and requires only a sensitivity input.

AlphOmega Highlighter (8%)(13%)(21%)(34%)(1%)(3%)(5%): This indicator provides the price projection based on the Fibonacci numbers and integrating the rules of alternance and similarity from Elliott. It does not provide a range but a single value that fits best the rules. It can be used in combination with the AlphOmega Similarity of a Wave. The variable “AOHL” can be used in a formula to refer to the output of the indicator.

AlphOmega Pitchfork: This indicator plots the Andrew’s Pitchfork lines for the sensitivity you selected. Other than the sensitivity, no input is required; the indicator will adjust for incoming data. It is very useful to plot the channel in which the price action will take place; should it move out of the fork, you know whether a new trend is taking place or it is getting stronger in the same direction or it is changing direction. Using forks at different sensitivities can help pinpointing the smallest trend change.

AlphOmega RSI/RMI Trend: This indicator generates automatically a trend line on either the RSI or the RMI. It uses Peak or Low functions so that the sensitivity should be adjusted to your preference. If there is no trend, the line is flat at the last peak or trough. It is useful to flag a significant change of trend in the above indicators that are usually very changing at a small scale; when there is a violation of the trend line, you know the trend has reversed.

AlphOmega Similarity of a Wave: This indicator provides the range in which the price should plot if the pattern follows the rules of alternance and similarity from Elliott. If the error range is violated, an alarm signal is given. This indicator requires a number of input that are: the sensitivity of waves under scrutiny, the number of standard deviation for volatility, the error tolerance level to be accepted, the rate of change in percent that is a threshold, the regression periods. The variables to be used in a formula are: “Wl” for the expected course and “Wl1” for the error course. It is useful to detect waves that start with a powerful thrust or those that linger below expected level. It will give fewer signals than most of the indicators because of the added selection criteria. The adjustment of the parameters varies greatly from a market toanother, the volatile equities being the most suitable.

AlphOmega Trend Resistance and Trend Support: This indicator calculates the resistance or the support based on the previous wave patterns. It is fully automatic and only requires a sensitivity input; it will adjust to new input meaning that once the trend is broken and a new peak or trough of the chosen sensitivity has formed. Its slope changes as data for its sensitivity accumulates. It will tend to adjust to volatility surges by maintaining a safe distance from the price line.

AlphOmega Trendline and (i): This indicator is using the previous peaks or troughs to establish the trend. The trend is also confirmed by a 100-days linear regression on the Close. The indicator uses Highs and Lows to draw the line. When the indicator has nothing to show, it reverts to a moving average of 50-days instead of showing a zero that would change the scale display of your graph. “Tl” stands for trend hence T and line with L. This is the variable you can use in formulas. When the price crosses the trend line, it usually means that a change in trend is taking place. There is an exploration that scans for violations of trend lines.

AlphOmega Weekly Pivot Point: This indicator provides the resistance and support levels based on the weekday Highs or Lows as per published formulas from Guppy site. The variables that can be used in a formula are: “R1”,”R2”,”S1” and “S2”. Because the pivot is updated only once a week with the highest and lowest for that week, it makes the resistance and support display for the whole week.

AO ID (All Sens.): These indicators are for identifying the wave pattern and do not plot anything but the wave number. The variable associated with them is “Trig” and it displays the value of the price after which the wave is identified. The price must move to a certain value before MetaStock® will accept it with either the Zigzag or the Peak or Trough functions. The variable “Trig” is not to be confused with AO T that is also displaying the trigger but as a binary signal, thus on or off. AO T does not appear on the indicator drop down list. It is used internally by other indicators.

AO Price Projection W2, Price Projection W3, Price Projection W4, Price Projection W5, and Price Projection WC: These indicators will allow you to plot a price projection for any wave of the corresponding number in the past. You need to input the sensitivity of the wave and the date in the format described before. The use of this indicator is best in testing the projection of prices against waves for which you already know the results. It helps establish if there is a correlation between the price movement of a security and the Fibonacci projections.

Next: Appendix 2

Summary: Index