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Q. What is the new PREV constant available in the Indicator Builder and how is it used? A. The PREV constant is used in a custom indicator to reference the previous output of the same formula. The following is a general example of a formula that uses PREV: PREV+1. The above formula takes the previous result of its own calculation and adds one to it. The formula is automatically primed with the first output so that there is something to start calculating with.The first output of this formula would be 2, then 3, then 4, and so forth.The PREV function is useful in performing exponential-type calculations. For example, an 18% exponential moving average can be calculated with the following formula: (close * 0.18) + (PREV* 0.82). The above formula takes 18% of the closing price and adds on 82% of the same formulas previous result. For additional information, search for Prev Constant in the MetaStock 6.0 online help or in the Users Guide index.

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