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I use binary waves all the time for a variety of purposes. Binary waves,
from one point of view, do the same job as bar highlighting in the Expert
advisor. The principle difference is that binary waves can be readily used
to display a prevailing condition. e.g. you can have a binary wave show
plus one (+1) when your MACD is above your signal line, and minus one (-1)
when it's below. This will give you a visually efficient display of a time
range that doesn't interfere with your viewing of the price action as bar
highlights do.
If you combine binary waves you can just add them together and get a
visually efficient display of multiple conditions. The same effect can be
achieved with multiple, or cascaded, 'if' statements, but it isn't very
visual. I've used them in the same subwindow as the price plot to display
vertical lines at certain points. You do this by plotting them as a
histogram with no scaling. This can be handy if you want to divide your
plot by the seven bar highs and lows, or something like that.
I feel a ramble coming on so I'll quit there.
Carey Barnett
mailto:cbarnett@xxxxxxxxxxx
http://webhome.idirect.com/~cbarnett/
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Remember "Burned bridges can't even be used for firewood."
Yeah, I know about charcoal. Gimme a break! ...cb'94
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-----Original Message-----
From: michael.arnoldi@xxxxxxxx <michael.arnoldi@xxxxxxxx>
To: metastock-list@xxxxxxxxx <metastock-list@xxxxxxxxx>
Date: Saturday, November 01, 1997 3:53 PM
Subject: binary waves
>has anyone in the group used binary waves successfully ?
>i am still debating whether the more indicators agree, is really of much
>importance as compared to one or two reliable indicators which don't get
>watered down by lesser reliable indicators.
>
>mike
>
Attachment Converted: "c:\eudora\attach\Carey Barnett3.vcf"
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