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On Monday 20 of October 2003 16:17, Colin Quinney wrote:
> That explanation is still kinda foggy to me, and clarity is requested, but
> surely perhaps I should really be first asking to what advantage do Time
> Frame Functions offer a trader? Thanks very much.
This incredibly usefull feature allows you to code more sophisticated systems
that will examine not only the time frame data you currently use, but also
shorter or longer ones. For example you can create well-known triple screen
system by dr Alexander Elder. Therefore it is easier now to examine daily
indicator for general view, than hourly for current tendency and 15-min for
entry/exit accurate moment (as an example for short-term trading).
=================================================
FROM README:
EXAMPLE 3: Simplified Triple screen system
/* switch to weekly time frame */
TimeFrameSet( inWeekly );
whist = MACD( 12, 26 ) - Signal( 12, 26, 9 );
wtrend = ROC( whist, 1 ); // weekly trend - one week change of weekly macd
histogram
TimeFrameRestore();
/* expand calculated MACD to daily so we can use it with daily signals */
wtrend = TimeFrameExpand( wtrend, inWeekly );
/* elder ray */
bullpower= High - ema(Close,13);
bearpower= Low - ema(Close,13);
Buy = wtrend > 0 /* 1st screen: positive weekly trend */
AND
bearpower < 0 and bearpower > Ref( bearpower, -1 ) /* 2nd screen bear power
negative but rising */
AND
H > Ref( H, -1 ); /* 3rd screen, if prices make a new high */
BuyPrice = Ref( H, -1 ); // buy stop level;
Sell = 0 ; // exit only by stops
ApplyStop( stopTypeProfit, stopModePercent, 30, True );
ApplyStop( stopTypeTrailing, stopModePercent, 20, True );
=======================================================
Regards,
--
Marek Chlopek
mchlopek@xxxxxxx
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