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<DIV><FONT color=#000000 size=2>Well,</FONT></DIV>
<DIV><FONT color=#000000 size=2> Here is my effort to code Larry Williams
"Zero Balance" to MetaStock.</FONT></DIV>
<DIV><FONT color=#000000 size=2>There are some differences I should point
out:</FONT></DIV>
<DIV><FONT color=#000000 size=2> </FONT></DIV>
<DIV><FONT color=#000000 size=2> Larry Williams uses High's and Low's in
his calculations, and I used</FONT></DIV>
<DIV><FONT color=#000000 size=2>closing prices.</FONT></DIV>
<DIV><FONT color=#000000 size=2> Instead of plotting actual points, I
found (for forecasting future values) that</FONT></DIV>
<DIV><FONT color=#000000 size=2>graphing the actual "Zero Balance" in
a stairstep fashion works pretty well.</FONT></DIV>
<DIV><FONT color=#000000 size=2> I was also unable to calculate the
"Important Recorded High's and Low's"</FONT></DIV>
<DIV><FONT color=#000000 size=2>in the same fashion as Williams, so I used 5%
ZigZag in my calculations,</FONT></DIV>
<DIV><FONT color=#000000 size=2>which seems to give similar
results.</FONT></DIV>
<DIV><FONT color=#000000 size=2></FONT><FONT size=2> </FONT></DIV>
<DIV><FONT color=#000000
size=2>
{ ZB8 }</FONT></DIV>
<DIV><FONT color=#000000
size=2>IRH:=If((Zig(C,5,%)>Ref(Zig(C,5,%),-1))AND<BR>
(Zig(C,5,%)>Ref(Zig(C,5,%),1)),<BR>
{then}C,{else}0);<BR>IRL:=If((Zig(C,5,%)<Ref(Zig(C,5,%),-1))AND<BR>
(Zig(C,5,%)<Ref(Zig(C,5,%),1)),<BR>
{then}C,{else}0);<BR>ZB8:=If(BarsSince(IRH>0)<BarsSince(IRL>0),<BR>
{then}(ValueWhen(1,IRL>0,C)+<BR>
ValueWhen(2,IRH>0,C))<BR>
-ValueWhen(3,IRH>0,C),<BR>
{else}(ValueWhen(1,IRH>0,C)+<BR>
ValueWhen(2,IRL>0,C))<BR>
-ValueWhen(3,IRL>0,C));<BR>ZB8;<BR> </FONT></DIV>
<DIV><FONT color=#000000 size=2> One of the ways Williams teaches to use
Zero Balance is to look for 3 consecutive </FONT></DIV>
<DIV><FONT color=#000000 size=2>moves of ZB8 in the same direction (up or down,
rather than up and down), he claims</FONT></DIV>
<DIV><FONT color=#000000 size=2>that many tops and bottoms can be detected this
way. I have attached some graphs</FONT></DIV>
<DIV><FONT color=#000000 size=2>showing what he means.</FONT></DIV>
<DIV><FONT color=#000000 size=2></FONT> </DIV>
<DIV><FONT color=#000000 size=2></FONT> </DIV>
<DIV><FONT color=#000000 size=2><IMG align=baseline alt="" border=0 hspace=0
src="cid:001001bdef0c$6c7e3b60$66fb9bce@xxxxxxxxxxxxxxxxx";></FONT></DIV>
<DIV><FONT color=#000000 size=2></FONT> </DIV>
<DIV><FONT color=#000000 size=2>Does this work everytime? I dont know, I just
developed the code last night, </FONT></DIV>
<DIV><FONT color=#000000 size=2>and I will test further. Could this next chart
be signaling a market turn? Time</FONT></DIV>
<DIV><FONT color=#000000 size=2>will tell.</FONT></DIV>
<DIV><FONT color=#000000 size=2></FONT> </DIV>
<DIV><FONT color=#000000 size=2></FONT> </DIV>
<DIV><FONT color=#000000 size=2><IMG align=baseline alt="" border=0 hspace=0
src="cid:001201bdef0c$6c7e3b60$66fb9bce@xxxxxxxxxxxxxxxxx";></FONT></DIV>
<DIV><FONT color=#000000 size=2></FONT> </DIV>
<DIV><FONT color=#000000 size=2> ZB8 calculates the value Zero Balance
point 8 should be, </FONT></DIV>
<DIV><FONT color=#000000 size=2>In other words the peak or trough of the close
shown on the</FONT></DIV>
<DIV><FONT color=#000000 size=2></FONT><FONT size=2>chart is where point 7 is
calculated from, and the dashed line</FONT></DIV>
<DIV><FONT size=2>of ZB (that starts on the same day as a peak or trough )
is </FONT></DIV>
<DIV><FONT size=2>the projected value of the next peak or trough (ZB8).
Williams</FONT></DIV>
<DIV><FONT size=2>claims that if the price is above ZB then it is
"overbought",</FONT></DIV>
<DIV><FONT size=2>and if below ZB then "oversold". Williams seems to
promote</FONT></DIV>
<DIV><FONT size=2>the 3 moves instead of overbought/oversold
aspect.</FONT></DIV>
<DIV><FONT color=#000000 size=2> Now if you followed all that, this next
formula will calculate the</FONT></DIV>
<DIV><FONT color=#000000 size=2></FONT><FONT size=2>value of ZB point 9, keep in
mind that this is plotting the ZB value</FONT></DIV>
<DIV><FONT size=2>that WILL be, a peak and trough in the future.</FONT></DIV>
<DIV><FONT size=2></FONT><FONT color=#000000 size=2></FONT> </DIV>
<DIV><FONT color=#000000
size=2>
{ ZB9 }</FONT></DIV>
<DIV><FONT
size=2>IRH:=If((Zig(C,5,%)>Ref(Zig(C,5,%),-1))AND<BR>
(Zig(C,5,%)>Ref(Zig(C,5,%),1)),<BR>
{then}C,{else}0);<BR>IRL:=If((Zig(C,5,%)<Ref(Zig(C,5,%),-1))AND<BR>
(Zig(C,5,%)<Ref(Zig(C,5,%),1)),<BR>
{then}C,{else}0);<BR>ZB9:=If(BarsSince(IRH>0)<BarsSince(IRL>0),<BR>
{then}(ValueWhen(1,IRH>0,C)+<BR>
ValueWhen(1,IRL>0,C))<BR>
-ValueWhen(2,IRL>0,C),<BR>
{else}(ValueWhen(1,IRL>0,C)+<BR>
ValueWhen(1,IRH>0,C))<BR>
-ValueWhen(2,IRH>0,C));<BR>ZB9;</FONT></DIV>
<DIV> </DIV>
<DIV><FONT color=#000000 size=2>Perhaps there is a better way to do
this.......... please feel free </FONT></DIV>
<DIV><FONT color=#000000 size=2></FONT><FONT size=2>to comment, </FONT></DIV>
<DIV><FONT
size=2>
Adam Hefner</FONT></DIV>
<DIV><FONT size=2></FONT> </DIV>
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