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Basically what I am trying to code is a way to
enter into nicely trending stocks in the ASX300 using Elliot wave type
patterns.
Here is an example of the pattern I am trying to
enter. Basically, on a weekly explorer I am looking for a stock whose
Peak during the last 10 periods is higher than the peak of the last 20 periods,
and whose closing price is higher than the trough between the two
peaks.
My entry signal will be when the C>O and
C>Ref(h,-1)
Now comes the tricky bit. I want to know that
the rally between the last trough and peak lasted for at least 5
periods.
Here is my coding so far. <FONT
face=Arial size=2>Many Thanks... :)
ENTRY LONG:
HHV(C,10)>Ref(HHV(H,20),-1) AND
C>Ref(HHV(C,10),-10) AND C>Ref(H,-1) AND V > 1000000 AND C > .10 AND
C < 10.00
EXIT LONG:
{Volatility Exit}C<HHV(H - 3*ATR(10),10)
OR
{30% retracement exit}C<Ref(HHV(H,20),-1)*.7
OR
{Correlation disintigration
exit}Cross(0,Correl(C,Cum(1),50,0)) OR
Cross(BBandTop(CLOSE, 20, SIMPLE,
2),H)
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