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Hi TJ and others,
I was trying to write a afl form an idea posted on another forum
here is the start of the ami formula but I seem to be having trouble
with the final stage of it ...
below is a describtion of how it should perform
i may need a few iif's to complete the code ..
Idea's welcome
Regards David
/*bow tie from Dave Landry
12.05.2001*/
buymov = close >ma(close,10) And
close > ma(close,20) and
close > ma(close,30) ; // close above mov's
setup = low< Ref(low,1)-1; //correction from breakout
buysignal = high> ref(high,1)-1;//Then we buy the next higher
high than the day before
Buy = buymov and setup and buysignal;
sell = c<ma(close,20);
***************
The Bow Tie is used to catch a change in trend from down to up; the
trend is defined from using three moving averages.
10-day simple moving average
20-Day exponential moving average
30-Day exponential moving average
The proper order for a down trend is; 30-Day ema > 20-Day ema > 10-
Day sma
The proper order for an up trend is; 10-Day sma > 20-Day ema > 30-Day
ema
The name for the set up comes from the pattern made from the moving
averages converging and spreading out again as the trend is changing.
The rules for the Bow Tie are as follows,
1. The moving averages must go from the correct down trend order to
the correct up trend order crossing together making an appearance of
a bow tie.
2. We wait for a correction e.g. a lower low than yesterdays low.
3. Then we buy the next higher high than the day before. If you are
not filled keep moving the order down as if trading a pullback
(The pattern remains valid until the market trades below the 20-Day
ema).
4. Place a stop at the lowest bar in the set up.
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