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Tuesday, June 28th, 2011

Script Editor

If you've been watching the support forum you know that sometimes we make custom formulas for people. In fact, there's some ability for you to do that yourself. We haven't pushed this feature because it's a very complicated process. It involves math and programming. But let me show you what's available. First off, here's one of my favorite windows. You know that if you've been watching these videos. It shows up and down for the day on 2 times normal volume. There's one thing I hate about this window. My normal volume indicator doesn't really work because some of these things are huge. R I T T is at 106 times normal volume. So, what can we do about that? This is a perfect place to use the formula editor. The formula editor allows me to customize things. I made another column that is showing me the same data except that it's using a logarithmic scale. And it's a scale that's set to match this configuration. Let me draw the scale for you so it's more obvious. You can see that L E D S is almost exactly at 2x normal volume. I set it up so that's on the far left of my screen. Because of my settings, I know I won't see anything less than this. R C O N is at about 4 times normal volume. F N D T is about 8x normal volume. Notice that each vertical line means twice as much volume as the previous line. R I T T is between 64 and 128 times normal volume. Using the logarithmic scale, we can see all of these stocks together, and they all make sense. [3:10, after we return from the static picture.] Let's look at the formula for this column. As I said, there's a lot of math here and a lot of programming. We haven't been pushing this to end users yet, but this capability is here. What I did was a little bit complicated. There is no GUI for doing that. If you want to do complicated things like this, you need to use the formula editor. Or you have to ask for help. I'm not going to teach you how to program. I'm not going to teach you math. But let's just take a quick look at what we have. We're starting with this P V formula. That's the standard % volume that's shown here. We're dividing by 200. We're saying that what we want on the left side is stuff that's at 200% of normal. That's just the smallest thing I'm going to look at. Then this is base 64. What does that mean? It means that stuff on the right is 64 times as big as stuff on the left. As I said, it's a logarithmic scale. And, finally, we're multiplying by 100. That's how most of our graphic indicators work. 0 is the left side and 100 is the right side. Maybe that was a little too complicated. Let me show you a slightly simpler one. I like the version I just showed you but let's look at something else. Here we have another formula. So let's look at this same stock again. [Highlight RITT] 106 times normal volume. Now it's off the scale. I set this formula to show 64 times normal on the right edge, and 106 is bigger than 64. When I created this formula I slid the graphic over a little bit. So now 100 percent is on the left edge, and 200 percent moved a little to the right. Notice the scale. The left is 1 times normal. 10 times normal is near the center. Stocks like DGT are in the center because they are trading at 10 times normal volume. 100 times normal volume is just past the right edge. That's what a logarithmic scale means. [7:20 return from the picture to the live video] What does this formula look like? It's actually a slightly simpler version of what we had before. I only made one change. Instead of dividing by 200 I divided by 100. Again, that's just what's going to be on the left. I put 100 there so things that are trading at 100% normal volume will show up on the left. As you can see, this is a very powerful tool. Its not for everybody. But if you really want something that's not there, this might help you create it.


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