McGinley Dynamic

[Angus F]

Has anyone seen the McGinley Dynamic Indicator floating around for eSig?

McGinley Dynamic:
Ref(Mov(C,12,E),-1)+((C-(Ref(Mov(C,12,E),-1))) / (C/(Ref(Mov(C,12,E),-1))*125))

http://www.investopedia.com/articles/forex/09/mcginley-dynamic-indicator.asp

which I would think goes something like this:

function preMain() {
    setPriceStudy(true);
    setStudyTitle("McGinley Dynamics");
    setCursorLabelName("McG_D", 0);
    setPlotType(PLOTTYPE_INSTANTCOLORLINE, 0);
    setDefaultBarFgColor(Color.blue, 0);
    setDefaultBarThickness(1,0);
        
    var fp1 = new FunctionParameter("MALength", FunctionParameter.NUMBER);
    fp1.setLowerLimit(1);        
    fp1.setDefault(12);
    
    var fp2 = new FunctionParameter("Smoothing", FunctionParameter.NUMBER);
    fp2.setLowerLimit(0);        
    fp2.setDefault(125);
    
    var vMcGD = null;

}

function main(MALength,Smoothing) {

    var i=0;
   
    McGD = (ema(MALength, close(i-1))) + (close(i)- (ema(MALength, close(i-1)))) / (close(i) / (ema(MALength, close(i-1))*Smoothing));
        
    
    return McGD;
} 

but my coding is not so hot, so I'm not quite sure what to do here.

[ACM]

Re: McGinley Dynamic

AngusF
The syntax of ema(MALength, close(i-1)) is invalid in as much as you are passing a value instead of a series to the ema() function.
Furthermore you do not need to define close as the source as this is the default unless another series is passed as a source
In Metastock the Ref() function is used to call the prior value of a study so you can simply use ema(12,-1) where -1 references the prior value of the study. As I explained above close() is unnecessary as it is implied by default.
In its most basic form the equation for the McGinley as you posted it would then be as shown in the following screenshot



I would suggest that you review the syntax and examples provided in this article of the EFS KnowledgeBase regarding the Moving Average functions. Also see this thread for a complete set of examples on the usage of efs2 functions.
Alex

Originally posted by Angus F
Has anyone seen the McGinley Dynamic Indicator floating around for eSig?

McGinley Dynamic:
Ref(Mov(C,12,E),-1)+((C-(Ref(Mov(C,12,E),-1))) / (C/(Ref(Mov(C,12,E),-1))*125))

http://www.investopedia.com/articles/forex/09/mcginley-dynamic-indicator.asp

which I would think goes something like this:

function preMain() {
    setPriceStudy(true);
    setStudyTitle("McGinley Dynamics");
    setCursorLabelName("McG_D", 0);
    setPlotType(PLOTTYPE_INSTANTCOLORLINE, 0);
    setDefaultBarFgColor(Color.blue, 0);
    setDefaultBarThickness(1,0);
        
    var fp1 = new FunctionParameter("MALength", FunctionParameter.NUMBER);
    fp1.setLowerLimit(1);        
    fp1.setDefault(12);
    
    var fp2 = new FunctionParameter("Smoothing", FunctionParameter.NUMBER);
    fp2.setLowerLimit(0);        
    fp2.setDefault(125);
    
    var vMcGD = null;

}

function main(MALength,Smoothing) {

    var i=0;
   
    McGD = (ema(MALength, close(i-1))) + (close(i)- (ema(MALength, close(i-1)))) / (close(i) / (ema(MALength, close(i-1))*Smoothing));
        
    
    return McGD;
} 

but my coding is not so hot, so I'm not quite sure what to do here.

[Angus F]

Re: Re: McGinley Dynamic

Hi Alexis,
Yet again you were immensely helpful, thank you.

I do have one question though:
When I add "colour coding" for up and down, I don't get any output. Maybe you have some advice.

Thanks again,
Angus.

/* McGinley Dynamic */



function preMain() {
    setPriceStudy(true);
    setStudyTitle("McGinley Dynamics");
    setCursorLabelName("McG_D", 0);
    setPlotType(PLOTTYPE_INSTANTCOLORLINE, 0);
    setDefaultBarFgColor(Color.red, 0);
    setDefaultBarThickness(2,0);
        
     var fp1 = new FunctionParameter("MALength", FunctionParameter.NUMBER);
    fp1.setLowerLimit(1);        
    fp1.setDefault(12);
    
    var nMcGD = null;

}

function main (MALength) {
      
    nMcGD = ema(MALength,-1) + (  (close(0)- (ema(MALength,-1))) / ((close(0)) / (ema(MALength,-1))*125));

    

    
     if (nMcGD.getValue(0) >= nMcGD.getValue(-1)) {
         setDefaultBarFgColor(Color.lime,0);
     } else if (nMcGD.getValue(0) < nMcGD.getValue(-1) {
         setDefaultBarFgColor(Color.red,0);
     }
    
             
    return nMcGD;
} 

Originally posted by Alexis C. Montenegro
AngusF
The syntax of ema(MALength, close(i-1)) is invalid in as much as you are passing a value instead of a series to the ema() function.
Furthermore you do not need to define close as the source as this is the default unless another series is passed as a source
In Metastock the Ref() function is used to call the prior value of a study so you can simply use ema(12,-1) where -1 references the prior value of the study. As I explained above close() is unnecessary as it is implied by default.
In its most basic form the equation for the McGinley as you posted it would then be as shown in the following screenshot



I would suggest that you review the syntax and examples provided in this article of the EFS KnowledgeBase regarding the Moving Average functions. Also see this thread for a complete set of examples on the usage of efs2 functions.
Alex

[ACM]

Re: Re: Re: McGinley Dynamic

Angus
The variable nMcGD is not a series but a single value hence you cannot use the getValue() method of the series object to retrieve its values.
See this post for some examples on how to access prior values of a variable that is not a series
Alex

Originally posted by Angus F
Hi Alexis,
Yet again you were immensely helpful, thank you.

I do have one question though:
When I add "colour coding" for up and down, I don't get any output. Maybe you have some advice.

Thanks again,
Angus.

/* McGinley Dynamic */



function preMain() {
    setPriceStudy(true);
    setStudyTitle("McGinley Dynamics");
    setCursorLabelName("McG_D", 0);
    setPlotType(PLOTTYPE_INSTANTCOLORLINE, 0);
    setDefaultBarFgColor(Color.red, 0);
    setDefaultBarThickness(2,0);
        
     var fp1 = new FunctionParameter("MALength", FunctionParameter.NUMBER);
    fp1.setLowerLimit(1);        
    fp1.setDefault(12);
    
    var nMcGD = null;

}

function main (MALength) {
      
    nMcGD = ema(MALength,-1) + (  (close(0)- (ema(MALength,-1))) / ((close(0)) / (ema(MALength,-1))*125));

    

    
     if (nMcGD.getValue(0) >= nMcGD.getValue(-1)) {
         setDefaultBarFgColor(Color.lime,0);
     } else if (nMcGD.getValue(0) < nMcGD.getValue(-1) {
         setDefaultBarFgColor(Color.red,0);
     }
    
             
    return nMcGD;
} 

[Angus F]

Alex,

This is the way I interpreted the ref() function, but it still seems to be giving me headaches.
Thank you,
Angus.

I hope I'm not giving you a headache with all these petty questions?

/* McGinley Dynamic */

var bInit = false;
var BarCntr = 0;

function preMain() {
    setPriceStudy(true);
    setStudyTitle("McGinley Dynamics");
    setCursorLabelName("McG_D", 0);
    setPlotType(PLOTTYPE_INSTANTCOLORLINE, 0);
    setDefaultBarFgColor(Color.red, 0);
    setDefaultBarThickness(2,0);
        
     var fp1 = new FunctionParameter("MALength", FunctionParameter.NUMBER);
    fp1.setLowerLimit(1);        
    fp1.setDefault(12);
    
    var nMcGD = null;
    

}

function main (MALength) {

    var nGD;
    var npGD;
    var myRef;
    
    if (bInit == false) {      
    nMcGD = ema(MALength,-1) + (  (close(0)- (ema(MALength,-1))) / ((close(0)) / (ema(MALength,-1))*125));
    bInit = true;
    }
    
    nGD = nMcGD.getValue(0);
    
    if (getBarState() == BARSTATE_NEWBAR) {
       BarCntr +=1;
}      
    if (BarCntr > MALength) {
    
    myRef = ref(-1);
    if (myRef != null) {
      npGD = myRef[0];
      }
}      
    
   if (nGD >= npGD) {
        setDefaultBarFgColor(Color.lime,0);
   } else if (nGD < npGD) {
        setDefaultBarFgColor(Color.red,0);
   }
    
             
    return nMcGD;
} 

[ACM]

Angus
There are several errors in your script.
- remove the entire bInit routine that encloses the calculation of the nMcGD variable. Anything contained in that routine will execute one time only when the formula is loaded [or reloaded]. The nMcGD variable instead needs to be calculated on every iteration of the efs
- delete line 34 ie nGD = nMcGD.getValue(0); as it is invalid. As I explained in my previous reply the variable nMcGD is not a series but a value and specifically the current value of the indicator. So use this variable name in your conditions and not nGD
- remove lines 42 to 44 (included) as they are unnecessary. myRef is the previous value of your indicator so use that in your conditions and not npGD
Once you make these changes the formula will work
Alex

Originally posted by Angus F
Alex,

This is the way I interpreted the ref() function, but it still seems to be giving me headaches.
Thank you,
Angus.

I hope I'm not giving you a headache with all these petty questions?

/* McGinley Dynamic */

var bInit = false;
var BarCntr = 0;

function preMain() {
    setPriceStudy(true);
    setStudyTitle("McGinley Dynamics");
    setCursorLabelName("McG_D", 0);
    setPlotType(PLOTTYPE_INSTANTCOLORLINE, 0);
    setDefaultBarFgColor(Color.red, 0);
    setDefaultBarThickness(2,0);
        
     var fp1 = new FunctionParameter("MALength", FunctionParameter.NUMBER);
    fp1.setLowerLimit(1);        
    fp1.setDefault(12);
    
    var nMcGD = null;
    

}

function main (MALength) {

    var nGD;
    var npGD;
    var myRef;
    
    if (bInit == false) {      
    nMcGD = ema(MALength,-1) + (  (close(0)- (ema(MALength,-1))) / ((close(0)) / (ema(MALength,-1))*125));
    bInit = true;
    }
    
    nGD = nMcGD.getValue(0);
    
    if (getBarState() == BARSTATE_NEWBAR) {
       BarCntr +=1;
}      
    if (BarCntr > MALength) {
    
    myRef = ref(-1);
    if (myRef != null) {
      npGD = myRef[0];
      }
}      
    
   if (nGD >= npGD) {
        setDefaultBarFgColor(Color.lime,0);
   } else if (nGD < npGD) {
        setDefaultBarFgColor(Color.red,0);
   }
    
             
    return nMcGD;
} 

[Angus F]

Alex,

You are a legend, thank you so much, that's perfect!!!

Angus.

Here's the code:

/* McGinley Dynamic */

var BarCntr = 0;

function preMain() {
    setPriceStudy(true);
    setStudyTitle("McGinley Dynamics");
    setCursorLabelName("McG_D", 0);
    setPlotType(PLOTTYPE_INSTANTCOLORLINE, 0);
    setDefaultBarFgColor(Color.red, 0);
    setDefaultBarThickness(2,0);
        
     var fp1 = new FunctionParameter("MALength", FunctionParameter.NUMBER);
    fp1.setLowerLimit(1);        
    fp1.setDefault(12);
    
    var nMcGD = null;
}

function main (MALength) {    
    var myRef;
             
    nMcGD = ema(MALength,-1) + (  (close(0)- (ema(MALength,-1))) / ((close(0)) / (ema(MALength,-1))*125));
        
    if (getBarState() == BARSTATE_NEWBAR) {
       BarCntr +=1;
}      
    if (BarCntr > MALength) {    
    myRef = ref(-1);      
}          
   if (nMcGD >= myRef) {
        setDefaultBarFgColor(Color.lime,0);
   } else if (nMcGD < myRef) {
        setDefaultBarFgColor(Color.red,0);
   }
                
    return nMcGD;
} 

[merkro]

"I created this in 1990 and it was published in the Market Technician's Assn Journal in
Summer 1997. I can e-mail you the pages of that article. The equation is:
D = D1 + (I - D1) / ( N * (I/D1)^4)
where D1 = yesterday's Dynamic, I = today's price, N = smoothing factor.
If you want the indicator to fit as closely as, say, a 20da MA, make N = 60% of 20.
Larger fits more loosely, stays out of consolidations longer.
This automatically speeds up when the market does and vice versa."

The above was written by the author of the indicator, and seems to my layman's interpretation that the formula uses the previous bars indicator value in it's calculation, whereas the example here uses the ema as a basis for each new calculation. What effect does this have on the result? My feeble attempts at recoding have been unsuccessful.

This indicator is a great find as presented here by Angus, and any improvement would make it more so.

Cheers

Merv

[ACM]

Angus
You are welcome
Alex

Originally posted by Angus F
Alex,

You are a legend, thank you so much, that's perfect!!!

Angus.

Here's the code:

/* McGinley Dynamic */

var BarCntr = 0;

function preMain() {
    setPriceStudy(true);
    setStudyTitle("McGinley Dynamics");
    setCursorLabelName("McG_D", 0);
    setPlotType(PLOTTYPE_INSTANTCOLORLINE, 0);
    setDefaultBarFgColor(Color.red, 0);
    setDefaultBarThickness(2,0);
        
     var fp1 = new FunctionParameter("MALength", FunctionParameter.NUMBER);
    fp1.setLowerLimit(1);        
    fp1.setDefault(12);
    
    var nMcGD = null;
}

function main (MALength) {    
    var myRef;
             
    nMcGD = ema(MALength,-1) + (  (close(0)- (ema(MALength,-1))) / ((close(0)) / (ema(MALength,-1))*125));
        
    if (getBarState() == BARSTATE_NEWBAR) {
       BarCntr +=1;
}      
    if (BarCntr > MALength) {    
    myRef = ref(-1);      
}          
   if (nMcGD >= myRef) {
        setDefaultBarFgColor(Color.lime,0);
   } else if (nMcGD < myRef) {
        setDefaultBarFgColor(Color.red,0);
   }
                
    return nMcGD;
} 

[maxmax68]

/*
"I created this in 1990 and it was published in the Market Technician's Assn Journal in
Summer 1997. I can e-mail you the pages of that article. The equation is:
D = D1 + (I - D1) / ( N * (I/D1)^4)
where D1 = yesterday's Dynamic, I = today's price, N = smoothing factor.
If you want the indicator to fit as closely as, say, a 20da MA, make N = 60% of 20.
Larger fits more loosely, stays out of consolidations longer.
This automatically speeds up when the market does and vice versa."

The above was written by the author of the indicator, and seems to my layman's interpretation that the formula uses the previous bars indicator value in it's calculation, whereas the example here uses the ema as a basis for each new calculation. What effect does this have on the result? My feeble attempts at recoding have been unsuccessful.

This indicator is a great find as presented here by Angus, and any improvement would make it more so.

Cheers

Merv
*/

Hi,
I tried to create a code that is more faithful to the original formula. It is not a masterpiece of style, but seems to do its job.
Putting on a graph the first version and my version does not seem to differ greatly from a simple ema.
It seems to me that there is something wrong in the formula.
Any idea or suggestion is welcome.
Greetings.
Massimo

/* McGinley Dynamic */

var BarCntr = 0;

function preMain() {
setPriceStudy(true);
setStudyTitle("McGinley Dynamics");
setCursorLabelName("McG_D", 0);
//setPlotType(PLOTTYPE_INSTANTCOLORLINE, 0);
setDefaultBarFgColor(Color.red, 0);
setDefaultBarThickness(2,0);

var fp1 = new FunctionParameter("MALength", FunctionParameter.NUMBER);
fp1.setLowerLimit(1);
fp1.setDefault(12);

var nMcGD = null;
var nMcGD_1 = null;
}

function main (MALength) {
if (getBarState()==BARSTATE_NEWBAR) {
BarCntr=BarCntr+1;
debugPrintln("BarCntr "+BarCntr);
if (BarCntr<MALength) return;
if (BarCntr==MALength) {
nMcGD=ema(MALength).getValue(0);
debugPrintln("BarCntr==MALength "+BarCntr+" EMA "+nMcGD);
}
nMcGD_1=nMcGD;
debugPrintln("EMA-1 "+nMcGD_1);
}
if (BarCntr>MALength) {
nMcGD=nMcGD_1+((close(0)-nMcGD_1)/(Math.floor(0.6*MALength)*Math.pow((close(0)/nMcGD_1),4)));
//if (nMcGD==null) return;
if (nMcGD >= nMcGD_1) {
setDefaultBarFgColor(Color.lime,0);
} else if (nMcGD < nMcGD_1) {
setDefaultBarFgColor(Color.red,0);
}

return nMcGD;
}
}