How Many Days Does A Can Of Formula Last Getting the Most Out of MetaStock’s Highest High Value

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Getting the Most Out of MetaStock’s Highest High Value

Highest Value will return the highest value of the selected range ‘data range’ from the specified number of times. For example, suppose we want to identify the highest volume value from the last 10 periods. To do this we will simply create a high code high value function.

MetaStock Syntax: HHV(Data Range, times)

Data array _ The largest value of this data array to be returned, from the specified number of times.

Periods _ How many periods we wish MetaStock to return to when it finds the maximum value of the data range.

Here is an example of how it is used.

The following formula identifies the highest price that has reached the closing price in the last 40 periods:

HHV(C,40)

In the formula above:

Database = C

Times = 40

Here’s how you can use the formula in a more useful application of this example:

C= HHV(C,40)

This formula identifies the highest closing price the security has reached in the last 40 periods. It then checks whether the current closing price is equal to that. In other words, we are asking MetaStock if the security has just achieved a new post 40 high.

Because of the flexibility of MetaStock most of the formulas we used can be rewritten in other ways. For example, perhaps the best way to check if a security has made a new all-time top 40 would be:

C>Ref(HHV(H,40),-1)

This formula will check if today’s close is higher than the highest high of the last 40 periods, before the current period (defined by ‘Ref(HHV(H,40),-1)’). Please see the Reference (Ref) function on page 75 for an explanation of its use in this formula.

If you are new to the MetaStock formula then this may seem complicated or confusing but once you ‘get it’ you will understand why it is used by many professional traders.

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