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Andrew,
Try these two formulas and let us know if this is what you mean. Plot
them directly on the price bars.
Countback up trend
ValueWhen(1,C > Ref(C,-2) AND
C > Ref(C,-1) AND
Ref(L,-2) < Ref(L,-1) AND Ref(L,-1) < L,Ref(L,-2))
Countback down trend
ValueWhen(1,C < Ref(C,-2) AND
C < Ref(C,-1) AND
Ref(H,-2) > Ref(H,-1) AND Ref(H,-1) > H,Ref(H,-2))
Equis Support
> -----Original Message-----
> From: Andrew J. Kornberg [SMTP:kornberg@xxxxxxxxxxxxxxxxxxxxxxxxxx]
> Sent: Tuesday, August 12, 1997 8:59 AM
> To: metastock-list@xxxxxxxxxxxxx; Daryl Guppy
> Subject: Countback Lines
>
> Hi,
>
> I posted this a couple of weeks ago but unfortunately I did not get a
> reply. Can anyone out there help with Countback Lines?
>
> Some charting programs now do this automatically (Ezy Charts) and I
> wonder
> whether this can be done efficiently and fairly automatically in
> Metastock.
>
> Essentially the principle behind countback lines is that they provide
> a
> short term resistance or support line. They are constructed as
> follows
> (From Daryl Guppy's Tutorials in Applied Technical Analysis
> www.ozemail.com.au/~guppy/). (I recommend this site to everyone)
>
> "In a falling trend, one counts back two higher highs and then
> projecting a
> horizontal line to the right. A close above this resistance suggests
> that
> the trend has changed. In a rising trend, it is calculated by
> counting
> back two lower lows. A close below this support line suggests that
> the
> trend has changed. The countback line can be used to fine tune entry
> and
> exit points."
>
> Obviously, this can be done by hand but they may need to be
> recalculated
> and redrawn daily. Is there a way for Metastock to do this
> automatically
> or semiautomatically? Any help would be greatly appreciated.
>
> Another question where the answer has so far escaped me. If one was
> to
> pick an exploration and get a report with say a list of 100 stocks.
> Can
> one then run another exploration on those stocks only?
>
> Thanks,
>
> Andrew
>
>
> ______________________________________________________________________
> __
> Andrew J. Kornberg
> Department of Neurology
> Royal Children's Hospital
> Melbourne, Australia 3052
>
> email: kornberg@xxxxxxxxxxxxxxxxxxxxxxxxxx
> Phone: + 61 3-9345 5661
> Fax: + 61 3-9345 5977
> ______________________________________________________________________
> __
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