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This is an open message to anyone who has the Metastock Developers Kit
and is competent in one of the programming languages it uses
(PowerBasic, Delphi, C++). I would do this myself, but I'm not
competent in any of those languages...or rather, I'm not a programmer
at all really...
Through the Metastock Formula Language, there are functions which
could provide the information to a .dll that would hold any value from
the start of a trade: Cum(1), ValueWhen(),BarsSince(), to name a few.
If someone could program a .dll that could just store a variable as
necessary, and hold that until it was reset, then all of the functions
in the Subject of this message could be managed, as well as officially
killing the justifiably maligned PREV function.
All the .dll would have to do is to allow the passing of an input
variable, and return the stored variable. Or it could do this for
multiple variables, if the input stream would allow.
The Metastock code would then be written to pass a trigger and a value
(say +1, ValueWhen(1,Signal=Long,Open+1)) to the .dll at a trade entry
signal. Any subsequent entry signals (+1,...) would not change the
stored value in the .dll. The .dll would have an internal flag that
would be set when it initially stores a variable, and it would
internally test everytime it receives a new signal of +1 (in this
example) and would store a new value only when the flag is false.
An exit signal would send a zero and the .dll would reset the stored
value to either the closing price or zero (I can see arguments for
both). At this point the .dll would be ready to trigger and save a
value again when it is passed a +1 or a -1 (for a short entry).
As Roy has so impressively demonstrated, all of the other trading
details and equity calculations could be handled in the Metastock
code. This would also open the door for calculating things like
Maximum Adverse Excursion and Max Favorable Excursion, etc.
If anyone could write this kind of a .dll, that would be a huge help
to so many Metastock users. And Equis, if anyone's monitoring here,
this would be a simple add-in to your future products. It wouldn't
affect your source code of the System Tester and would add tremendous
functionality.
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Dave Nadeau
Fort Collins, CO
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