# Custom Formula Collection

Regression Oscillator and the Slope/Close Indicator

In MetaStock 6.0 it's easy to create the Regression Oscillator and the Slope/Close Indicator from Richard Goedde's article, "Market timing with the regression oscillator", which appears in the March 97 issue of Technical Analysis Stocks and Commodities magazine.

First choose Indicator Builder from the Tools menu and enter the following formulas:

Regression Oscillator
100 * (CLOSE/ LinearReg(CLOSE,63)-1)

Slope/Close
10000* LinRegSlope(CLOSE,63)/CLOSE

Next drag each of these formulas from the Indicator QuickList and drop them on the heading of a chart. To create horizontal lines, click the right mouse button while the mouse pointer is positioned over the Regression Oscillator to display the shortcut menu. Choose Regression Oscillator Properties. On the Horizontal lines page add horizontal lines at 14, 0, and -14.

You can use The Explorer to perform the screen mentioned in the article. First choose The Explorer from the Tools menu, next create a new Exploration with the following information:

 Column A Reg Osc Fml("Regression Oscillator") Column B Slp/Cls Fml("Slope/Close") Filter ColB > 50 and ColA >-15 and ColA < -5

Choose OK and then Explore to run the Exploration. For MetaStock for Windows 5.x users the instructions are the same except enter the following custom indicator in place the ones mentioned earlier.

Regression Oscillator
100 * (CLOSE/ ((63 * Sum(Cum(1) * C,63) - Sum(Cum(1),63) * Sum(C,63)) / (63 * Sum(Pwr(Cum(1),2),63) - Pwr(Sum(Cum(1),63),2)) * Cum(1) + (Mov(C,63,S) - Mov(Cum(1),63,S) * (63 * Sum(Cum(1) * C,63) - Sum(Cum(1),63) * Sum(C,63)) / (63 * Sum(Pwr(Cum(1),2),63) - Pwr(Sum(Cum(1),63),2))))-1)

Slope/Close
10000* ((63 * Sum(Cum(1) * C,63) - Sum(Cum(1),63) * Sum(C,63)) / (63 * Sum(Pwr(Cum(1),2),63) - Pwr(Sum(Cum(1),63),2)))/CLOSE

For additional help with formulas, please see the Formula Primer.

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