Ask Colin

How can I set up the New High - New Low indicator in Metastock?

I am not a Metastock user, so I cannot tell you exactly. However, what you are going to have to do, I think is take the ASCII file I give you and drop it into a spreadsheet. Then create a column that is the cumulative difference of the daily New High minus New Lows.

Since Metastock does not cope with negative numbers, I would add a large number at the start like 50,000, so that it never goes negative.

Then you put the date field and the cumulative column into a Metastock file. I am not sure how flexible the Metastock file format is, so you may have to put the cumulative column in as Open, High, Low and Close.

You then update it by hand from the AFR, by calculating the difference each day and either adding or subtracting it from the last cumulative total.

I don't know how to get the spreadsheet file into Metastock, but I believe it is not difficult. Probably export it as an ASCII or DIF file that Metastock can read. There may be some help on this on the Equis site under FAQ. Failing that post a question on a forum like Stock Central and someone may help.