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<DIV><SPAN class=230521316-13091998><FONT color=#0000ff face=Arial
size=2>Jim</FONT></SPAN></DIV>
<DIV><SPAN class=230521316-13091998><FONT color=#0000ff face=Arial
size=2></FONT></SPAN> </DIV>
<DIV><SPAN class=230521316-13091998><FONT color=#0000ff face=Arial size=2>Took a
look at my DJIA weekly charts with the corresponding BB (using their defaults)
and by BB range runs from 9350 and 6600 with the current position being just
below the mid point around 7900. I can be like the NBC talking heads and
say we have an equal chance of going up or going down.</FONT></SPAN></DIV>
<DIV><SPAN class=230521316-13091998><FONT color=#0000ff face=Arial
size=2></FONT></SPAN> </DIV>
<DIV><SPAN class=230521316-13091998><FONT color=#0000ff face=Arial size=2>FWIW,
we finally got a Sell Signal.....</FONT></SPAN></DIV>
<DIV><SPAN class=230521316-13091998><FONT color=#0000ff face=Arial
size=2></FONT></SPAN> </DIV>
<DIV><SPAN class=230521316-13091998><FONT color=#0000ff face=Arial size=2>Now
our 'Contrary' was a 36 and our maximum is 35 (based upon probabilities).
Now comes the basic question and the second guessing of our system, do we wait,
and follow the trading rules, or do we say that's close enough and short the
market.</FONT></SPAN></DIV>
<DIV><SPAN class=230521316-13091998><FONT color=#0000ff face=Arial
size=2></FONT></SPAN> </DIV>
<DIV><SPAN class=230521316-13091998><FONT color=#0000ff face=Arial
size=2>Hopefully our maturity will prevail and we will wait. We need
another up day, but not quite as strong. </FONT></SPAN></DIV>
<DIV><SPAN class=230521316-13091998><FONT color=#0000ff face=Arial
size=2></FONT></SPAN> </DIV>
<DIV><SPAN class=230521316-13091998><FONT color=#0000ff face=Arial size=2>Wish I
knew more about Candlesticks, but when I switched over to that format, the
pattern looks interesting. If I only knew what it means
<G>. </FONT></SPAN></DIV>
<DIV><SPAN class=230521316-13091998><FONT color=#0000ff face=Arial
size=2></FONT></SPAN> </DIV>
<DIV><SPAN class=230521316-13091998><FONT color=#0000ff face=Arial
size=2>Regards</FONT></SPAN></DIV>
<DIV><SPAN class=230521316-13091998><FONT color=#0000ff face=Arial
size=2></FONT></SPAN> </DIV>
<DIV><SPAN class=230521316-13091998><FONT color=#0000ff face=Arial
size=2>Guy</FONT></SPAN></DIV>
<DIV><SPAN class=230521316-13091998><FONT color=#0000ff face=Arial
size=2></FONT></SPAN> </DIV>
<BLOCKQUOTE
style="BORDER-LEFT: #0000ff solid 2px; MARGIN-LEFT: 5px; PADDING-LEFT: 5px">
<DIV class=OutlookMessageHeader><FONT face="Times New Roman"
size=2>-----Original Message-----<BR><B>From:</B>
owner-metastock@xxxxxxxxxxxxx [mailto:owner-metastock@xxxxxxxxxxxxx]<B>On
Behalf Of</B> Jim Greening<BR><B>Sent:</B> Saturday, September 12, 1998
10:54 AM<BR><B>To:</B> Metastock<BR><B>Subject:</B> Weekly
Pick<BR><BR></FONT></DIV>
<DIV><FONT color=#000000 size=2>All,</FONT></DIV>
<DIV><FONT color=#000000 size=2> The market did move
up yesterday and I did open my DELL position at 56 3/8. So far so
good, now if it will just follow through <G>. I took a long look
at the indices last night and they are acting right for my theory. To
expand it a little, I believe the DJIA is trying to set up a volatile
sideways or horizontal channel trading range between 7500 and 8000.
The DJIA is not near the bottom of any of my trend channels but both the OEX
and SPX are bouncing off the bottom of long term channels. There is ,
however, some support for the DJIA near 7500 from the Jan lows and
resistance above 8000 from last falls highs. Looking at the daily
action, the DJIA has tested the 7500 level three times in the last two weeks
so it does look like a bottoming action. With the volatility we have
seen, I fully expect another test of the 8000 level soon. However,
this is still a somewhat tenuous theory and a long way from reality. I
will commit to positions to play the theory, but want to do so more
cautiously then usual with very close stops. That means any stock I
pick must be close to the bottom of the channel since I set my stops under
the channel and preferable has just bounced up a little. Also I'm only
going to play the large market leaders in groups I'm interested in.
</FONT></DIV>
<DIV><FONT color=#000000 size=2> Even with the large
DELL position and my normal size RDC position, I'm still over 50% cash and
want at least one more position to play the bounce I'm hoping for. I
think the brokers and financial service groups have been over punished and
over sold lately so that's the group for this weeks pick. I narrowed
my list to Schwab and Travelers Group (TRV) and decided on TRV since it is
so over sold and since Sandy Weill always bounces back. I only wish I
had ridden his coat tails more in the past <G>. TRV is going to
be the true financial services giant when the merger with Citicorp is
completed.</FONT></DIV>
<DIV><FONT color=#000000 size=2> TRV at 40 7/8 broke
out of a Short Term Down Trend Channel Friday on good volume. It's
also in a Long Term Up Trend Channel (LTUTC) with the top at 80 3/8 and the
bottom at 38. It peaked at 73 3/8 on 4/6/98 and then went into a four
month CANSLIM cup type formation but failed to breakout in Jul and then went
into a tail spin to a low of 36.4375 Friday morning before the good up
move. Looking at the chart, the last week shows a typical Equivolume
reversal pattern with TRV bouncing off the bottom of the LTUTC twice on high
volume. It closed at the lows on the first bounce, but closed at the
highs yesterday. The Support/Resistance and CMO indicators look like
the beginning of a reversal pattern. The fundamentals are better than
ever with the PE at 12.1, price/sales at 1.1, return on equity at 17.5%, 5
yr. revenue growth rate at 49% and 5 yr. earnings growth rate at 19%.
TRV just kept growing while the stock price dropped. That's why I
think it's so over sold and such a bargain right here. I'll take a
long position at Monday's open, set my target just under the top of the
LTUTC at 80 and my mental stop just under it at 37 3/4. I'd like to
hang on to this one as a long term core position if it will let me so I'll
wait until a good short term up trend channel forms before moving my stop up
to it. </FONT></DIV>
<DIV><FONT color=#000000 size=2> I'm sending a
TRV.GIF chart to everyone on my email chart list. If you're not on the
list, and want on, just yell.</FONT></DIV>
<DIV><FONT color=#000000 size=2></FONT> </DIV>
<DIV><FONT color=#000000
size=2>Jim </FONT></DIV></BLOCKQUOTE></BODY></HTML>
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Message-ID: <006501bddf36$09d4a200$fd672599@xxxx>
From: "Jim Greening" <JimGinVA@xxxxxxxxxxxxx>
To: <metastock@xxxxxxxxxxxxx>
Subject: Re: PV Binary Wave System Test
Date: Sun, 13 Sep 1998 12:46:16 -0400
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<DIV><FONT size=2>All,</FONT></DIV>
<DIV><FONT size=2> Just read my post and see that I made
a mistake. I copied the wrong formula to the Enter Short system
test. Obviously the weightings should be opt1, opt2, opt3 instead of 1, 2,
3 and -opt1, -opt2, -opt3 instead of -1, -2, -3. Sorry about that
<G>.</FONT></DIV>
<DIV><FONT size=2></FONT> </DIV>
<DIV><FONT size=2>Jim </FONT></DIV>
<BLOCKQUOTE
style="BORDER-LEFT: #000000 solid 2px; MARGIN-LEFT: 5px; PADDING-LEFT: 5px">
<DIV><FONT face=Arial size=2><B>-----Original Message-----</B><BR><B>From:
</B>Jim Greening <<A
href="mailto:JimGinVA@xxxxxxxxxxxxx";>JimGinVA@xxxxxxxxxxxxx</A>><BR><B>To:
</B>Metastock <<A
href="mailto:metastock@xxxxxxxxxxxxx";>metastock@xxxxxxxxxxxxx</A>><BR><B>Date:
</B>Sunday, September 13, 1998 12:30 PM<BR><B>Subject: </B>PV Binary Wave
System Test<BR><BR></DIV></FONT>
<DIV><FONT color=#000000 size=2>All,</FONT></DIV>
<DIV><FONT color=#000000 size=2> I wanted everyone
to know that I hadn't forgotten the development of the Price Volume Binary
Wave. I've just been very busy and haven't had much time for it.
For one thing our first grandson (to go with our two granddaughters) was
born a couple of months ago. They live about an hours drive North of
us and needless to say, we have been making that short trip often
<G>. Anyway, back to business. I combined the first two
PVBW formulas into the following:</FONT></DIV>
<DIV><FONT color=#000000 size=2></FONT> </DIV>
<DIV><FONT color=#000000 size=2>PVBW01 (Highs & Lows)</FONT></DIV>
<DIV><FONT color=#000000 size=2>If(HHV(L,8) = HHV(L,21),2,0)
+<BR> If(HHV(L,21) = HHV(L,55),2,0) +<BR> If(HHV(L,55) =
HHV(L,233),1,0) +<BR> If(HHV(H,8) = HHV(H,21),2,0)
+<BR> If(HHV(H,21) = HHV(H,55),2,0)
+<BR> If(HHV(H,55) = HHV(H,233),1,0)
+<BR>If(LLV(H,8) = LLV(H,21),-2,0) +<BR> If(LLV(H,21) = LLV(H,55),-2,0)
+<BR> If(LLV(H,55) = LLV(H,233),-1,0) +<BR> If(LLV(L,8) =
LLV(L,21),-2,0) +<BR> If(LLV(L,21) = LLV(L,55),-2,0)
+<BR> If(LLV(L,55) = LLV(L,233),-1,0) </FONT></DIV>
<DIV><FONT color=#000000 size=2></FONT> </DIV>
<DIV><FONT size=2>Note that all I did was add the first two formulas
together and changed the weighting. The reason I changed the weighting
was that I copied the formula into the following simple MS System Test and
tested it on several of my stocks.</FONT></DIV>
<DIV><FONT size=2></FONT> </DIV>
<DIV><FONT size=2>05B_Tema PV BW</FONT></DIV>
<DIV><FONT size=2></FONT> </DIV>
<DIV><FONT size=2> Enter Long</FONT></DIV>
<DIV><FONT size=2>If(HHV(L,8) = HHV(L,21),opt1,0) +<BR> If(HHV(L,21) =
HHV(L,55),opt2,0) +<BR> If(HHV(L,55) = HHV(L,233),opt3,0)
+<BR> If(HHV(H,8) = HHV(H,21),opt1,0) +<BR>
If(HHV(H,21) = HHV(H,55),opt2,0) +<BR> If(HHV(H,55)
= HHV(H,233),opt3,0) +<BR>If(LLV(H,8) = LLV(H,21),-opt1,0)
+<BR> If(LLV(H,21) = LLV(H,55),-opt2,0) +<BR> If(LLV(H,55) =
LLV(H,233),-opt3,0) +<BR> If(LLV(L,8) = LLV(L,21),-opt1,0)
+<BR> If(LLV(L,21) = LLV(L,55),-opt2,0)
+<BR> If(LLV(L,55) = LLV(L,233),-opt3,0) >
0</FONT></DIV>
<DIV><FONT size=2></FONT> </DIV>
<DIV><FONT size=2></FONT><FONT color=#000000 size=2> Enter
Short</FONT></DIV>
<DIV><FONT color=#000000 size=2></FONT><FONT size=2>If(HHV(L,8) =
HHV(L,21),1,0) +<BR> If(HHV(L,21) = HHV(L,55),2,0) +<BR>
If(HHV(L,55) = HHV(L,233),3,0) +<BR> If(HHV(H,8) =
HHV(H,21),1,0) +<BR> If(HHV(H,21) = HHV(H,55),2,0)
+<BR> If(HHV(H,55) = HHV(H,233),3,0)
+<BR>If(LLV(H,8) = LLV(H,21),-1,0) +<BR> If(LLV(H,21) = LLV(H,55),-2,0)
+<BR> If(LLV(H,55) = LLV(H,233),-3,0) +<BR> If(LLV(L,8) =
LLV(L,21),-1,0) +<BR> If(LLV(L,21) = LLV(L,55),-2,0)
+<BR> If(LLV(L,55) = LLV(L,233),-3,0) <
0</FONT></DIV>
<DIV><FONT size=2></FONT> </DIV>
<DIV><FONT size=2>OPT1: Min = 1 Max = 3 Step =
1</FONT></DIV>
<DIV><FONT size=2></FONT><FONT size=2>OPT2: Min = 1 Max =
3 Step = 1</FONT></DIV>
<DIV><FONT size=2></FONT><FONT size=2>OPT2: Min = 1 Max =
3 Step = 1</FONT></DIV>
<DIV><FONT size=2></FONT> </DIV>
<DIV><FONT size=2></FONT><FONT color=#000000 size=2>I ran the test on
several of my stocks and was surprised by two things. First, that just
this simple test worked very well on most of my stocks. Second and
more important, that I had assigned my original weighting wrong where I gave
progressively more weight to the longer term results. On average the
tests performed better with more weight to the short and intermediate term
and less weight to the long term. Therefore I changed my weighting
from 1, 2, 3 to 2, 2, 1. I intend to do the same thing with the rest
of the PVBW formulas that I forwarded a few weeks ago and then look for the
optimum smoothing. Finally, I'll work on the test itself and add some
close conditions and vary the Enter long conditions. I hope to be able
to report back on the binary wave components by next week and then proceed
from there.</FONT></DIV>
<DIV><FONT color=#000000 size=2></FONT> </DIV>
<DIV><FONT size=2> If anyone wants to experiment and
let me know the results or has ideas for other components please let me
know. Remember, I don't want to use any indicators for this binary
wave, only price/volume relationships.</FONT></DIV>
<DIV><FONT size=2></FONT> </DIV>
<DIV><FONT size=2>Jim</FONT></DIV>
<DIV><FONT size=2></FONT> </DIV>
<DIV><FONT color=#000000 size=2></FONT> </DIV>
<DIV><FONT color=#000000 size=2></FONT> </DIV></BLOCKQUOTE></BODY></HTML>
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Date: Sun, 13 Sep 1998 12:48:13 EDT
To: metastock@xxxxxxxxxxxxx
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Subject: Indicator help needed
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I'm trying to create a custom indicator that will help to display cycles. It's
based on a shifted SMA. Your help [in Simple English <g> since this is my
first foray into custom indicators] would be appreciated.
Here's what I'm looking to do:
Prompt for Periods [SMA value]
Prompt for Shift [SMA horizontal shift value]
I got the prompts down but now what? The mov() function doesn't have a shift
parameter. OK so I'll plot it my self <....hours of poking around looking for
ways to 'shift' plot the SMA go by...> I can't see a way to shift the SMA.
Once [if] I get the shifted SMA values, what I really want to do [I think] is
run through them subtracting each value from the previous value and plotting
that out as a 'flat' zero line plot [perhaps like an oscillator] The idea
being to 'discount' the trend and use the resulting 'plot' to help determine
active cycles.
BTW I also tried to build this thang on an existing shifted SMA [plot shifted
MA w/MS indicator and drop the custom indicator on it - Can you do that?] I
tried PREV-INDICATOR and I got a straight angled line. How can I use the SMA
values rather than price values in calculations?
This is something I read about in Murphy's TA book and I thought it might be
interesting as well as being a good exercise to start learning custom
indicators. I'm not sure if this will end up being a useful thing but I am now
hooked on it and may not be able to sleep/eat/bathe... until I get it figured
out. Even if there is an existing indicator/function or an easier way to do
this [please let me know if there is] I still would like to know how to do it
for future reference.
I was also curious if there is a way to put comments [descriptions and/or
instructions] in the prompt dialog box. Is there a way to suppress a plot
[create values in the function but not display them on a chart]? I had figured
there would be some function to plot values more like Plot(somevalues) when
you wanted to plot something but it seems that if you generate a value it will
end up on your chart.
If I haven't worn out my welcome yet <G> ... my next 'experiment' will be to
plot buy/sell signal symbols when a close is a new high/low for the past 4
weeks. Another gem from Murphy's book. This one might keep me up dirty and
hungry as well so if you have any ideas ... Thanks I'm an all around rookie
just starting to paper trade commodities. All help is appreciated.
Here is my current under construction masterpiece function if you want to see
where I'm at with it.
===================================================
{PURPOSE:'Detrend' a market to help determine cycles.}
{INPUT: Period - SMA period value
Shift - Horizontal Shift value}
{OUTPUT: Zero line plot of difference in the MA}
{METHOD: Using shifted MA plot out the
differences in the shifted MA. Creating a 'flat'
plot to help show cycles.}
{REFER: Murphy's TA book Cycles chapter}
{Created:9/13/98}
{--------------------------------------------------------}
{Get values to be used for SMA and Shift}
Period:=Input("Period:",2,200,40);
Shift:=Input("Shift [usually Period/2]:",1,100,20);
{Calculate SMA}
Ref(Mov(C,period,S),shift)
=================================================
Thanks
Chris
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