A Value Is Not Available To The Formula Or Function Getting the Most Out of MetaStock’s Highest High Value

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Getting the Most Out of MetaStock’s Highest High Value

The highest high value function returns the highest value of the selected data array for the specified number of periods. For example, suppose we wanted to identify the highest volume value in the last 10 periods. To do this, we would simply code the function with the highest value.

MetaStock syntax: HHV (data array, points)

Data array _ Returns the largest value of this data array in the specified number of periods.

Periods _ How many periods we want MetaStock to refer to when finding the highest value in the data array.

Here is an example of its use.

The following formula identifies the highest value that the closing price has reached in the last 40 periods:

HHV (C, 40)

In the above formula:

DataArray = C

Periods = 40

For a more useful application of this example, you would use the formula as follows:

C= HHV(C,40)

This formula identifies the highest closing price that the security has reached over the past 40 periods. It then checks to see if the current closing price is equal to it. In other words, we’re asking MetaStock whether or not the security has just hit a new 40-period high.

Because of MetaStock’s versatility, many of the formulas we used can be rewritten in other ways. For example, a better way might be to check if a security has reached a new 40-period high:

C>Ref(HHV(H,40),-1)

This formula checks if today’s close is greater than the high of the last 40 periods preceding the current period (denoted as “Ref(HHV(H,40),-1)”). Please see the reference function (reference) on page 75 for an explanation of its use in this formula.

If you’re new to the MetaStock formula, it may seem complicated or confusing, but once you get the hang of it, you’ll understand why so many professional traders use it.

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