Anyone had much use for the Trend Intensity Index in OmniTrader at all?
Seems to be giving some fairly good results in picking trends and thought I'd put it up here for people that are interesting in using it as part of a formula in Metastock as part of an Expert or just as a general trend indicator.
This is Metastock format. Just drop it in as a new Indicator and voila!
Trend Intensity Index
x:=Input("number of periods", 5,100,14);
Mov((sdp/(sdp + sdm)),7,TRI) * 100
Another one I've been working on lately is what I call "The Flatliner". It helps in weeding out any stocks that have no real trading activity for certain periods, i.e. lots of flat lines.
check:= (O=C AND H=C AND L=C);
result:= chartdays - flatliner;
percentage:= (flatliner / chartdays)*(100/1);
Anyway, using this in an Explorer type situation it can give you a percentage of how many flat-spots each chart has and helps weed out those stocks that aren't really trading. Working on putting some type of weighting system into it at the moment as current prices are more important than ancient history.
Anyway, let me know if these formulas help. Been working on a lot of my own formulas over the past eight years so can probably offer some suggestions to anyone that needs help with creating formulas in Metastock or just maths theory/login.
I have another formula that is VERY GOOD and pretty much picks the peaks and troughs of any trending stock but it's still in development; yes I know, I've heard it can't be done and also that anyone that tells you they can do it is a liar but all I have to say to that is "just because it's not easy to do or hasn't been done before doesn't mean it CAN'T BE DONE!"
Anyway, I hope these formulas help and have a good one!