How to average 2 indicators?

[greg108]

Is it possible to create in Formula wisard a midpoint of two averages.
Let's say (SimpleMA+ExponentialMA)/2

How to do something like that?

[ACM]

Yes in part in the sense that you can code most of it using the Wizard's automated features, but you will have to write the equation yourself in the Returned Data Points.
Open the attached efs with the Formula Wizard
Alex

[greg108]

Thanks Alex, is it possible to create it in a "Studies Used" section and not in "Returned Data Points" section as you propose.
I am trying to build a % envelope around it and need it in the Study section for that.

I tryied to input (vEMA10+vEMA20)*0.5 into data Sourse or StudyVarName there, but got syntax errors.

So how to do that in the Study section or how to build a % envelope around it?

[greg108]

Thanks Alex, is it possible to create it in a "Studies Used" section and not in "Returned Data Points" section as you propose.
I am trying to build a % envelope around it and need it in the Study section for that.

I tryied to input (vEMA10+vEMA20)*0.5 into data Sourse or StudyVarName there, but got syntax errors.

So how to do that in the Study section or how to build a % envelope around it?

[ACM]

greg108
No you cannot create it in the Studies Used section.
Irrespective you can still achieve what you want almost as is now.
Edit the Formula Configuration and add two plots. This will add two boxes in the Returned Data Points. Place the current equation in the middle box and this will be the basis line of the envelope. Then in the top and bottom boxes you can write the following respectively for fixed 5% bands (I am using the same example I made for you)

((vSMA20.getValue(MAStudy.MA)+vEMA10.getValue(MASt udy.MA))/2)*(1+0.05)
((vSMA20.getValue(MAStudy.MA)+vEMA10.getValue(MASt udy.MA))/2)*(1-0.05)

These will be your upper and lower envelopes.

Having said this I would probably start thinking of doing this outside of Formula Wizard at this point. You could use basicMAx2.efs that you can find here and modify that along the same lines suggested here. The advantage is that all the parameters of each MA are adjustable through Edit Studies.
Alex