Programming Gann Pull back Indicators in Metastock

[Peter Lim <kimheng@xxxxxxxxxxxx>]

Hi Equis and fellow Metastock users,

Since I am very much a novice in programming indicators in Metastock ( I am
using Metastock version 5.0 at present), I would be very grateful if
someone can assist to help program what is generally known as the Gann
Pullback indicator for Buy and sell signals. Can it also be programmed as
an Exploration system too?

The principle behind the theory and conditions for use is as follows(pasted):

"Gann observed that markets generally only have a 2-4 day counter-trend
> reaction once a trend is in force. This indicator determines whether a
trend
> has been established and if so, the direction of the trend identified.
> 
> Indicator plots represent the level where trade entry stops should be
> placed. Once a trade is entered, a protective sell stop should be entered
> one tick below the three day low if long, or one tick above the three day
> high if short.
> 
> This set-up occurs relatively infrequently, but when it does, there's a
hi
> probablity with minimum capital exposure.}
> 
> {This is for a long position}
> Condition1=ADX(14)>30 and DMIPlus(14)>DMIMinus(14);
> Condition2=L<L[1] and L[1]<L[2] and L[2]<L[3];
> Condition3=L<L[1] and L[1]<L[2] and L[2]>L[3] and H[2]<H[3];
> Condition4=L<L[1] and L[1]>L[2] and H[1]<H[2] and L[2]<L[3];
> Condition5=L>L[1] and H<H[1] and L[1]<L[2] and L[2]<L[3];
> 
> If Condition1 and (Condition2 or Condition3 or Condition4 or Condition5)
> then Plot1(H+MinMove/PriceScale,"GannPulbkBuy");
> 
> {This is for a short position}
> Condition6=ADX(14)>30 and DMIPlus(14)<DMIMinus(14);
> Condition7=H>H[1] and H[1]>H[2] and H[2]>H[3];
> Condition8=H>H[1] and H[1]>H[2] and H[2]<H[3] and L[2]>L[3];
> Condition9=H>H[1] and H[1]<H[2] and L[1]>L[2] and H[2]>H[3];
> Condition10=H<H[1] and L>L[1] and H[1]>H[2] and H[2]>H[3];
> 
> If Condition6 and (Condition7 or Condition8 or Condition9 or Condition10)
> then Plot2(L-MinMove/PriceScale,"GanPulbkSell");


Any replies to this list or by email would be most welcomed and
appreciated.Thanks.

Regards

Peter Lim