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Hi,
The following Metastock formulae for Countback Lines were obviously written
for Metastock 6.0 as they did not work for Metastock 5.11 . Please, can
anyone help write the formulae so that they are compatible for Metastock
5.11 .
I have had posted a request to this list before more than a week ago, but
have not recevied any response (including from EQUIS) until now. Hope to
get at least someone who is fluent in writing Metastock 5.11 formulae to
share his ideas.
The formulae from EQUIS are reproduced below for this thread in the
postings below.
Thanks.
Regards
Peter Lim
==========================================================================
At 02:19 PM 8/12/97 -0600, you wrote:
>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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