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<P><FONT size=2>> A technique I quite like for exiting trades (ie taking
profits and as<BR>> a stop loss) was first introduced to me in a book by
Daryl Guppy<BR>> - "Share Trading -An Approach To Buying And
Selling" (1997).<BR>> The COUNTBACK LINE was adapted by Daryl from
Stowell's 3-Bar<BR>> Nett Line,<BR>snip...<BR><BR>Ian,<BR>I also use Guppy's
CBL technique with some success (especially when I<BR>act on it). [<A
href="http://203.31.125.2/guppy/index.html";
target=_blank>http://203.31.125.2/guppy/index.html</A>] <BR><BR>I have been
trying to incorperate it into a system I am building, but cannot<BR>work out how
to formulate it. It bears a remarkable similarity to Keith's exit<BR>posted
earlier which I guess one could formulate as<BR><BR>KeithSL:=If(H = HHV(H,3) AND
Ref(H,-1) > Ref(H,-2), Ref(L,-2), PREVIOUS);<BR><BR>This gives the same
result as CBL for "3whitesoldiers" type patterns but CBL<BR>seems more
general in that it doesn't require the days contributing to the price<BR>action
to be consecutive.</FONT><FONT size=2> It seems to me like the sort of
thing that MS ought to<BR>be able to do, but I can't see it.<BR>Any help would
be much appreciated. TIA<BR><BR>-----<BR>For those unfamiliar with count-back
lines they work like this (it's actually<BR>easier to see than describe).
Assuming trading long, starting with the<BR>highest-high since entry, draw a
line left (back) from the low until it intersects<BR>a previous bar. From the
low of this bar draw a second line back until it<BR>intersects a previous
bar. The exit signal is given by a close below the low<BR>of this second
bar.<BR><IMG align=baseline alt="" border=0 hspace=0
src="cid:189182122@xxxxxxxxxxxxx";><BR>Jeff.</FONT> </P></BODY></HTML>
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