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Thanks for responding to my request for help, David. Sorry this note comes so
late.
Philip
David Bozkurtian wrote:
> Phillip,
>
> Have you checked the candlestick functions. I believe that they are already
> in the package.
>
> David
>
> From: Philip <pschmi02@xxxxxxxxxxx>
> Reply-To: metastock@xxxxxxxxxxxxx
> To: metastock@xxxxxxxxxxxxx
> Subject: Overlapping ranges
> Date: Mon, 27 Mar 2000 12:23:29 -0500
>
> Greetings All,
>
> I'd like to enlist your help writing code for "overlapping" price bars.
> (see GIF) (Could the formula already exist somewhere and I'm not aware
> of it?) Seems like a concept that might also interest other market
> students, but maybe my view is myopic.
>
> Situation: Today's range should overlap yesterday's range (GIF) and as
> I search for such situations, I want to set the requirement for how
> large the overlap should be. How to determine the overlap and how to
> quantify it . . . perhaps as a percentage of the previous day's range??
>
> I've made a start below, but a) I don't know whether my approach would
> hold water, b) even if I'm on the right track, I still can't quite tie
> the ends together -- I think I need some "If" statements next, c) is
> there an easier/better way?
>
> LL:= L < Ref(L,-1) and H < Ref(H,-1)
>
> HH:=H > Ref(H,-1) and L > Ref(L,-1)
>
> IN:=L > Ref(L,-1) and H < Ref(H,-1)
>
> OUT:= H > Ref(H,-1) and L < Ref(L,-1)
>
> OVERLAP-LL:= (H-L) - (Ref(L,-1)-L)
>
> OVERLAP-HH:= (H-L) - (H - Ref(H,-1))
>
> OVERLAP-IN:= H-L (?) maybe just (H-L) is enough in this case
>
> OVERLAP-OUT:= H-L (?) as in OVERLAP-IN, this may be sufficient for the
> purpose
>
> I thought I might simply divide yesterday's range by the amount of
> OVERLAP, using the quotient as a parameter I would specify in my
> explorations/experts etc.: a high quotient would indicate very little
> overlap, and progressively lower quotients would indicate progressively
> larger overlaps. If the quotient equaled 1, the entire range would
> overlap, if the quotient equaled 6, only 1/6 of the range would overlap.
>
> QUOTIENT-LL:= Ref(H,-1)-Ref(L,-1) / OVERLAP-LL
>
> QUOTIENT-HH:= Ref(H,-1)-Ref(L,-1) / OVERLAP-HH
>
> OVERLAP-IN:= Ref(H,-1)-Ref(L,-1) / H-L (seems like the simplest of all
> the variants)
>
> OVERLAP-OUT:= Ref(H,-1)-Ref(L,-1) / H-L (also seems simple, it would
> always result in a
>
> quotient of less than 1)
>
> The next step, I believe, would be to set up "If" statements for the
> whole shebang so I can just say: identify set ups where today's range
> overlaps yesterday's range by 60%, 45% . . . whatever. This part has
> me entirely stumped.
>
> What's left of the ole gray matter feels like a Gordian knot. "Hey,
> Alex! Get over here with that sword of yours, man!"
>
> Philip
> << Overlap.gif >>
>
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