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I am on the lookout for a charting software program
that uses end-of-day summary prices -
Open,High,Low,Close,Volume - which can accept trading
signals and provide related results summaries, e.g.,
profitability test on the following basis.
A signal, for example, is a given percent of previous
day's high. The program that we have ( Metastock )
accepts the signals but reports the entries at either
the opening price, high price, low price or closing
price of the day. What I would like is a program that
would be able to use the signal value as entry or exit
price even when it is different from the
open,high,low,close.
For example : Day one Open:9500 High:11000 Low:9399
Close:9600.
Day two 9700 10000 9400 9500.
The signal is 90 percent of previous day high
therefore 11000 * .90 = 9900.
Metastock will accept that value as signal trigger but
for purposes of trading results one must accept
results on the basis of an entry at either
9700,10000,9400 or 9500. What I seek is a program
which would use the value 9900 as the entry price for
all purposes.
I currently use Excel, of course, to design my tests
on the basis described above but would prefer a
charting program specifically for technical analysis.
I would be most grateful for any suggestions that you
can make.
Roberto
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