Elder Auto Envelopes

• 05/10/2021 at 8:07 AM #169225
  Alfy

  Good morning guys, I’m looking to create the Alexander Elder auto envelopes. It doesn’t look like anyone on the forum has mentioned them before. The indicator shows a 22 day exponential moving average and then an envelope around said moving average which is calculated as the standard deviation of the price compared to that moving average over a lookback of 100days multiplied by 2.7 standard deviations. I’ve created some code but I’m having trouble on the bit calculating the standard deviation compared to the moving average if anyone can help?

  Best regards and thanks in advance

  Elder Auto envelope

  a=exponentialAverage[22](Close) // We define the standard deviation. StdDeviation = STD[100](Close) Bsup = a + 2.7 * StdDeviation Binf = a - 2.7 * StdDeviation return A as "average", Bsup as "upperband", Binf as "lowerband"

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  a=exponentialAverage[22](Close) // We define the standard deviation. StdDeviation = STD[100](Close) Bsup = a + 2.7 * StdDeviation Binf = a - 2.7 * StdDeviation   return A as "average", Bsup as "upperband", Binf as "lowerband"

   

  

  Alfy

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  05/10/2021 at 8:41 AM #169228
  Alfy

  Heres some metastock code i found in case my explanation above was poor.

  Best regards

   

  MetaStock FORMULA EMA:=Input("Base EMA",1,100,22); Factor:=Input("Factor",1,50,27); Avg:=Mov(C,EMA,E); csize:= StDev(2*Max(abs(H-Avg) ,abs(L-Avg)) / Avg,100)*Factor/10; {Use 100 days for stable channel size - default is 2.7 std} Csize:= ValueWhen(1, DayOfWeek()<span class="prism-token prism-tag"><span class="prism-token prism-punctuation"><</span>Ref(DayOfWeek() <span class="prism-token prism-attr-name">,-1)</span> <span class="prism-token prism-attr-name">OR</span> <span class="prism-token prism-attr-name">(</span> <span class="prism-token prism-attr-name">DayOfWeek()</span><span class="prism-token prism-attr-value"><span class="prism-token prism-punctuation">=</span>Ref(DayOfWeek(),-1)</span> <span class="prism-token prism-attr-name">AND</span> <span class="prism-token prism-attr-name">DayOfMonth()</span> <span class="prism-token prism-attr-name"><</span><span class="prism-token prism-punctuation">></span></span> Ref(DayOfMonth(),-1)) ,Ref(csize,-1)); { This pegs the StDev to last bar of week AND only changes once per week} csize:=LastValue(csize); {fix to constant using last value} channel:=csize*Avg; Avg+channel/2; Avg-channel/2; Avg;

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  MetaStock FORMULA   EMA:=Input("Base EMA",1,100,22); Factor:=Input("Factor",1,50,27); Avg:=Mov(C,EMA,E); csize:= StDev(2*Max(abs(H-Avg) ,abs(L-Avg)) / Avg,100)*Factor/10; {Use 100 days for stable channel size - default is 2.7 std} Csize:= ValueWhen(1, DayOfWeek()<span class="prism-token prism-tag"><span class="prism-token prism-punctuation"><</span>Ref(DayOfWeek() <span class="prism-token prism-attr-name">,-1)</span> <span class="prism-token prism-attr-name">OR</span> <span class="prism-token prism-attr-name">(</span> <span class="prism-token prism-attr-name">DayOfWeek()</span><span class="prism-token prism-attr-value"><span class="prism-token prism-punctuation">=</span>Ref(DayOfWeek(),-1)</span> <span class="prism-token prism-attr-name">AND</span> <span class="prism-token prism-attr-name">DayOfMonth()</span> <span class="prism-token prism-attr-name"><</span><span class="prism-token prism-punctuation">></span></span> Ref(DayOfMonth(),-1)) ,Ref(csize,-1)); { This pegs the StDev to last bar of week  AND only changes once per week} csize:=LastValue(csize); {fix to constant using last value} channel:=csize*Avg; Avg+channel/2; Avg-channel/2; Avg;

   

  

  Alfy

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