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Mickey
The "Williams Buy Stop" indicator is a breakout entry signal based on the work of Bill Williams I
believe his book is called "New Dimensions in Trading". I didn't create the indicator and don't have
permission to pass it on, but the concept is to enter long once a the price breaks above a previous
high that is straddled by two lower highs on each side.
The signals are most likely contained in the password protected expert called "Profitunity - Bill
Williams".
Perhaps someone who has developed the code from the book might like to share it.
Roy
> This is great work you are posting here. And I'm eagerly to give it a
> try, but what is "Williams Buy Stop" indicator ? Is that the entry point
> of the system ?
> Thanks
> Mickey
>
> -----Original Message-----
> From: owner-metastock@xxxxxxxxxxxxx
> [mailto:owner-metastock@xxxxxxxxxxxxx] On Behalf Of Roy Larsen
> Sent: dinsdag 28 augustus 2001 11:49
> To: metastock@xxxxxxxxxxxxx
> Subject: Re: Coding MaxLoss and ProfitTarget Stops
>
>
> Herman
>
> > Has anybody succeeded handcoding the Maximum Loss and Profit Target
> > Stops such that System Tester Stop results are identical to using the
> > custom coded stops?
> >
> > I am having great difficulty getting similar results and would
> > appreciate any suggestions or pieces of code that can help me.
>
> Here is a sampling of work-in-progress on profit stops for MS. I have
> yet to check any of these against MS but will do so over the next few
> days. For the life of me I can't see how MS stops can execute at
> tradeable steps - see comments on code further down.
>
> Thanks to Glen Wallace for his comments, and the code above his name
> from the Guppy site. I never intended to use the PREV function but it
> appears to be the only way to go without programming skills and a
> development kit.
>
> The Target Exit indicator is by far the slowest in use (for multi-stock
> system testing) as the Entry variable combines the all 3 elements of
> profit, loss and time. When testing it I called the appropriate stop
> using FmlVar()'s rather than the usual Fml() that is used with single
> purpose indicators.
>
> With Profit Stop I have added some code to convert the stop value to the
> next higher ASX tradeable step. Similar code could be added to a stop
> loss or exit stop by those who need it (i.e. have their own stop capable
> system tester).
>
> I'm going to have a lot more fun with this stuff yet. There are a number
> of possibilities yet to explore. I hope there is something here that
> will help or give you inspiration.
>
> Roy
>
> {Profit Exit - entered on Close}
> Profit:=Input("Profit target %",1,50, 5)/100; Entry:=Fml("Williams Buy
> Stop"); EntryAmt:=If(PREV<=0,If(Entry>0,CLOSE,0),
> If(H>PREV*(1+Profit),-PREV,PREV));
> Target:=Abs(EntryAmt)*(1+Profit);
> EntryAmt<0 AND H>Target; {binary exit signal}
>
> {Profit Exit - entered on Open}
> Profit:=Input("Profit target %",1,50, 5)/100; Entry:=Fml("Williams Buy
> Stop"); EntryAmt:=If(PREV<=0,If(Entry>0,OPEN,0),
> If(H>PREV*(1+Profit),-PREV,PREV));
> Target:=Abs(EntryAmt)*(1+Profit);
> EntryAmt<0 AND H>Target; {binary exit signal}
>
> {Profit Exit - entered on Stop}
> Profit:=Input("Profit target %",1,50, 5)/100; Entry:=Fml("Williams Buy
> Stop"); EntryAmt:=If(PREV<=0,If(Entry>0,Entry,0),
> If(H>PREV*(1+Profit),-PREV,PREV));
> Target:=Abs(EntryAmt)*(1+Profit);
> EntryAmt<0 AND H>Target; {binary exit signal}
>
> {Profit Stop - entered on Stop}
> Profit:=Input("Profit target %",1,50, 5)/100; Entry:=Fml("Williams Buy
> Stop"); EntryAmt:=If(PREV<=0,If(Entry>0,Entry,0),
> If(H>PREV*(1+Profit),-PREV,PREV));
> Target:=Abs(EntryAmt)*(1+Profit);
> X:=If(EntryAmt<0 AND H>Target,Target,0); Stop:=If(X=0,0,If(X>0.1 AND
> X<=0.5, If(Int(X*200)=X*200,X+.005, Int((X+.005)*200)/200), If(X<=0.1,
> If(Int(X*1000)=X*1000,X+.001, Int((X+.001)*1000)/1000),
> If(Int(X*100)=X*100,X+.01, Int((X+.01)*100)/100)))); Stop; {Value exit
> signal}
>
> {Target Exit}
> Profit:=Input("Percent profit",1,50, 5)/100;
> Loss:=Input("Percent loss" ,1,50,50)/100;
> Time:=Input("Maximum trade duration",1,50,2); Entry:=Fml("Williams Buy
> Stop"); Init:=Cum(Entry<>-1)=0;
> EntryPrice:=If(PREV<=0,If(Entry>0,Entry,0),
> If(H>PREV*(1+Profit)
> OR L<=PREV*(1-Loss)
> OR BarsSince(PREV=0)>=Time,-PREV,PREV));
> Trade:=Init=0 AND EntryPrice<>0;
> ProfitTarget:=Abs(EntryPrice)*(1+Profit);
> LossTarget:=Abs(EntryPrice)*(1-Loss);
> ProfitExit:=If(EntryPrice<0 AND H> ProfitTarget,ProfitTarget,0);
> LossExit:=If(EntryPrice<0 AND L<= LossTarget,LossTarget,0);
> ProfitExit:=If(EntryPrice<0 AND ProfitExit=0 AND
> LossExit=0,O,ProfitExit); LossTarget; ProfitTarget;
>
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