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Jeff:
What you are looking for is a pattern recognition program. Metastock and
almost every other tech analysis program doesn't/cant do this.
You might be able to refine your exploration so that you get more hits and
fewer "wrong" hits.
I have alredy sent you an answer to the question of angle/slope of line.
Bear in mind that degrees of slope are meaningless on a stock chart.
Lionel Issen
At 09:00 PM 2/3/98 -0800, jeff f brady wrote:
>I think I know what your getting at( but maybe not) and if you find an
>answer to this I would appreciate a line. I have looked at
>characteristics of securities and their indicators before making a big
>move to hopefully find some kind of "set up". By visually eye balling it
>I have found that TRIX and the MACD have "tale tell" characteristics like
>a "hooking" or tightly u turning look about the indicator and then thur
>the 0 line. The best I have been able to duplicate is my Brady Break
>out exploration with the MACD indicator looking back x periods to verify
>that the indicator was in the correct beginning point to go on and form
>the pattern I recognized in profitable break outs( I can send you that
>exploration with some notes if you like).
>
> However it is patch work at best and I get securities that meet the
>criteria after an exploration where the indicator does not look like the
>kind of formation I was looking for. I often thought if I could just
>"capture" or draw a box around the indicator when it is in the formation
>I want and then paste this picture into an exploration and say ' GO find
>other securities with MACD's or TRIX's that look like this!
>
>I guess its almost the same as writing an exploration for: go find saucer
>and cup formations, go find ascending triangle formations, etc.,
>
>And it would even be more powerful if I could add different time frames
>into the exploration, go find my MACD set up on a daily basis that also
>meets the criteria of my TRIX set up on a weekly basis!
>
>And even more powerful if I could also add: also compare this security to
>the DJIA for instance and see if the general market conditions are equal
>to the conditions that were present when the prior break out took place.
>
>My hypothesis is simple, go find indicator set upsor patterns that equal
>set ups that have lead to break outs in the past not only with this
>security but others.
>Well Metastock I'm waiting!
>
>The slope of the indicator seems to be paramount as it moves into a
>pattern that will lead to a break out!!!!! If I really focused and drew
>some lines and applied some algebra I think I could come up with some
>kind of formula that gave me results closer to what I have pictured in my
>mind - maybe this will motivate me to do it, but I know there is some wiz
>out there on this list that could just start typing and present the
>formulas.
>Good Luck !
>JB in wet SB..
>On Tue, 03 Feb 1998 09:42:15 -0500 RXR <oiis@xxxxxxxxxx> writes:
>>I have a formula question:
>>
>>When using an indicator that ranges from positive to negative values
>>(such
>>as TRIX) AND you want to describe the DEGREE of downward slope of the
>>TRIX
>>for a certain number of periods when passing through zero . . . how do
>>you
>>define this.
>>
>>Can TRIX be converted into ALL positive numbers (a consecutive
>>series)?
>>
>>
>>RXR
>>
>>
>
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