[amibroker] TD Lines

["marmal417" <marmal@xxxxxxx>]

Hi,

I'm bringing up this subject again because I think there are some 
improvements to be made after having studied different result. I'm 
using the code from msg# 59105 with slight visual modifications.

In my opinion the system could definitely benefit from a rule 
preventing trades to be taken if there is no stoploss. 

For example if a new all time high has been made and there is no 
supply line above the price, then no short position should be 
entered, since it's suicidal to not use an exit for unprofitable 
positions. 

I can think of a few additional ways to do this. They are explained 
for a stock making an all time high, but the same applies in reverse 
to a stock making an all time low.

1. If a long position is held (and the stock is making new highs) and 
a break of the demand line occurs, then exit and reverse the 
position, placing the stoploss for the short position at the most 
recent pivot point high above the price. 

If there is no pivot point above the price, then don't reverse the 
trade on a break of the demandline, simply exit the long position. 
This can happen if a stock makes an all time high and THE SAME DAY 
reverses and breaks the demandline. Then no pivotpoint above the 
price can exist.

2. This is a variation of 1. If a long position is held and a break 
of the demand line occurs, then exit and reverse the position, 
placing the STOP AND REVERSE point for the short position at the most 
recent pivot point high above the price.

Perhaps the "easiest" to code is the first suggestion: don't enter a 
short trade if there is no supplyline and don't enter a long position 
if there is no demandline. 

Anyone up for the challenge of improving this system?

Regards,
Martin



Send BUG REPORTS to bugs@xxxxxxxxxxxxx
Send SUGGESTIONS to suggest@xxxxxxxxxxxxx
-----------------------------------------
Post AmiQuote-related messages ONLY to: amiquote@xxxxxxxxxxxxxxx 
(Web page: http://groups.yahoo.com/group/amiquote/messages/)
--------------------------------------------
Check group FAQ at: http://groups.yahoo.com/group/amibroker/files/groupfaq.html 
Yahoo! Groups Links

<*> To visit your group on the web, go to:
     http://groups.yahoo.com/group/amibroker/

<*> To unsubscribe from this group, send an email to:
     amibroker-unsubscribe@xxxxxxxxxxxxxxx

<*> Your use of Yahoo! Groups is subject to:
     http://docs.yahoo.com/info/terms/