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Frans -
I am a bit concerned with this sentence in the article, "The indicators S1
through S6 and R1 through R6 should be plotted as points and not as a continuous
line," because I am looking for a continuous, or straight, line. Tomorrow, I
will see how this pans out and if it does what I want to do.
Thanks!
-- Frank :-)
_______________ Reply Separator _______________
derksenf wrote:
> Frank,
>
> This is from TASAC-magazine 0598:
>
> Good luck,
>
> Frans
>
> In my article "Automatic support and resistance" in this issue, I present a
> computerized approach to finding support and resistance levels on a chart.
> To recreate the indicators and system described in my article using
> MetaStock for Windows, enter the following formulas:
>
> Indicators:
>
> S1: IF(Ref(LOW,-4)=LLV(LOW,9),Ref(LOW,-4),PREVIOUS) S2:
> IF(Fml("S1")=Ref(Fml("S1"),-1),PREVIOUS,Ref(Fml("S1"),-1)) S3:
> IF(Fml("S1")=Ref(Fml("S1"),-1),PREVIOUS,Ref(Fml("S2"),-1)) S4:
> IF(Fml("S1")=Ref(Fml("S1"),-1),PREVIOUS,Ref(Fml("S3"),-1)) S5:
> IF(Fml("S1")=Ref(Fml("S1"),-1),PREVIOUS,Ref(Fml("S4"),-1)) S6:
> IF(Fml("S1")=Ref(Fml("S1"),-1),PREVIOUS,Ref(Fml("S5"),-1))
>
> WSO:
> 100*(1(Int(Fml("S1")/CLOSE)+Int(Fml("S2")/CLOSE)+Int(Fml("S3")/CLOSE)+Int(F
> ml("S4")/CLOSE) +Int(Fml("S5")/CLOSE)+Int(Fml("S6")/CLOSE))/6)
>
> R1: IF(Ref(HIGH,-4)=HHV(HIGH,9),Ref(HIGH,-4),PREVIOUS) R2:
> IF(Fml("R1")=Ref(Fml("R1"),-1),PREVIOUS,Ref(Fml("R1"),-1)) R3:
> IF(Fml("R1")=Ref(Fml("R1"),-1),PREVIOUS,Ref(Fml("R2"),-1)) R4:
> IF(Fml("R1")=Ref(Fml("R1"),-1),PREVIOUS,Ref(Fml("R3"),-1)) R5:
> IF(Fml("R1")=Ref(Fml("R1"),-1),PREVIOUS,Ref(Fml("R4"),-1)) R6:
> IF(Fml("R1")=Ref(Fml("R1"),-1),PREVIOUS,Ref(Fml("R5"),-1))
>
> WRO: 100*(1(Int(Fml("R1")/CLOSE)+Int(Fml("R2")/CLOSE)
> +Int(Fml("R3")/CLOSE)+Int(Fml("R4")/CLOSE)
> +Int(Fml("R5")/CLOSE)+Int(Fml("R6")/CLOSE))/6)
>
> The indicators S1 through S6 and R1 through R6 should be plotted as points
> and not as a continuous line.
>
> Trading System Formulas and Parameters: Enter long positions on either
> building support or sustained uptrend and exit position using stops. No
> short positions.
>
> Enter Long: Fml("WSO") > Mov( Fml("WSO") , 4 , S ) OR Mov( Fml("WRO") , 30 ,
> S ) > 95
>
> Stop Out:
>
> Breakeven stop: Floor level at 2%
>
> Trailing stop: Profit risk of 10 Percent, ignoring 10 periods
>
> Maximum loss stop: Maximum loss of 7%
>
> Other Conditions:
>
> Initial equity = 1000, Long positions only, Trade price = close, Trade delay
> = 0, Entry commission = 0%, Exit commission = 0%, , Interest rate = 5%,
> Margin req. 100%
>
> -- Mel Widner, Ph.D., 703 791-5910
>
> E-mail techstrategies@xxxxxxxx
>
> At 10:24 PM 17-02-99 -0600, you wrote:
> >
> > Does anyone have the formulas or workaround to allow the (Indicator)
> >Support/Resistance Lines, either auto or manual, to display only one
> >straight Horizontal line, which is located, respectively, near the level
> >of low or high for whatever time period used, be that anywhere from a
> >few weeks to a few years?
> > Actually an even better outcome to this, for me, would be if an
> >Indicator would look back in time and use multiple lows or highs,
> >depending on Support/Resistance, for its calculations.
> > Could it be that I am missing something in 6.52, maybe what I seek
> >is already there?
> >
> >-- Frank :-)
> >
> >
> >
> >
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