At first glance it may look intimidating, but MetaStock is quite logical in its processes.Consequently, anyone with a bit of persistence can learn to program custom indicators, explorations, system tests and experts.
In fact, you dont have to be a MetaStock expert just to get started. When combined, they form the foundation of MetaStocks program- ming language. Essentially this is what drives MetaStocks four major tools: The Indicator Builder, The Explorer, The Expert Advisor and The System Tester. So for those of you 2 who can already create a reasonable spreadsheet youre half way there to understanding MetaSpeak. ![]() They form the basis of all technical analysis: the open, high, low, close, volume and open interest (shown graphically in Figure 2.1). When used they identify specific price fields that the formula should operate on. When analyzing daily data, the Open is especially important as it is the consensus price after everybody has had a chance to sleep on it. There are always sellers willing to sell at higher prices, but the High represents the highest price buyers were willing to pay. There are always buyers willing to buy at lower prices, but the Low represents the lowest price sellers were willing to accept. Due to its availability, the Close is the most often used price for analysis. The relationship between the Open (the first price), and the Close (the last price), are considered to be significant by most technical analysts. The relationship between prices and volume (e.g., increasing prices accompanied by increasing volume) are considered impor- tant. For example, close or c would return the last price that the security traded during the period. Meaning, when entering formulas it doesnt matter whether c or C is typed. When checking for syntax errors MetaStock automatically adjusts the case, making them all uniform anyway. Metastock Language How To Use MetaStockIn the meantime, if you want to watch videos on how to use MetaStock, click here to visit our YouTube channel.
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