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<FONT face=Arial
size=2>Nick:
<FONT face=Arial
size=2>
Thanks for this
posting.
<FONT face=Arial
size=2>Lionel
<FONT face=Tahoma
size=2>-----Original Message-----From:
owner-metastock@xxxxxxxxxxxxx [mailto:owner-metastock@xxxxxxxxxxxxx]On
Behalf Of Nick ChannonSent: Wednesday, February 27, 2002 7:10
AMTo: metastock@xxxxxxxxxxxxxSubject: Taylor Book
Numbers
Hi folks,
I recently read a book by George Angell - "Sniper
Trading" - which I thoroughly enjoyed. One of the things he covers is the
'Taylor Book Method', created by Taylor approx. 50 years ago. Part of the
method is to use EOD prices to calculate a 'buy envelope' and 'sell envelope'
for the next day - zones of support and resistance. It also gives a forecasted
price Range. Angell's book provides the maths so I coded it up for Metastock -
see formula below. This formula is for use in the Commentary of an Expert. The
way I use it is to open a daily chart from the night before, transcribe the
Taylor numbers onto paper, then open an intraday chart and place them in the
form of horizontal lines. I've been amazed at the way the zones catch some of
the tops and bottoms in the cash currency markets, and especially the 'LSS
Pivot Breakout Buy/Sell Numbers' (which acts as a Pivot - i.e. use for failure
or breakout.)
Here's the formula. All suggestions for
improvement welcome. Thanks to George Angell for a great book.
Regards
Nick
SELL ENVELOPE
Rally Number: WriteVal(<FONT
face="Times New Roman">(L + ((H-Ref(L,-1)) + (Ref(H,-1)-Ref(L,-2)) +
(Ref(H,-2)-Ref(L,-3))) / 3))
Buying High Number: WriteVal(<FONT
face="Times New Roman">(H - ((H-Ref(H,-1)) + (Ref(H,-1)-Ref(H,-2)) +
(Ref(H,-2)-Ref(H,-3))) / 3))
Today's High: WriteVal(<FONT
face="Times New Roman">H)
LSS Pivot Breakout Sell Number: <FONT
face="Times New Roman">WriteVal(<FONT
face="Times New Roman">(((H+L+C)/3)*2)-L)<FONT
face="Times New Roman">
BUY ENVELOPE
Decline Number: WriteVal(<FONT
face="Times New Roman">H + (((L-Ref(H,-1)) + (Ref(L,-1)-Ref(H,-2)) +
(Ref(L,-2)-Ref(H,-3))) / 3))
Buying Under Number: WriteVal(L
- (((Ref(L,-1) - L) + (Ref(L,-2)-Ref(L,-1)) + (Ref(L,-3)-Ref(L,-2))) /
3))
Today's Low: WriteVal(<FONT
face="Times New Roman">L)
LSS Pivot Breakout Buy Number: <FONT
face="Times New Roman">WriteVal(<FONT
face="Times New Roman">(((H+L+C)/3)*2)-H)<FONT
face="Times New Roman">
EXPECTED RANGE:
Final Sell Number: WriteVal<FONT
face="Times New Roman">(((L +
((H-Ref(L,-1)) + (Ref(H,-1)-Ref(L,-2)) + (Ref(H,-2)-Ref(L,-3))) / 3)
{Rally Number}
+
(H - ((H-Ref(H,-1)) + (Ref(H,-1)-Ref(H,-2)) + (Ref(H,-2)-Ref(H,-3))) /
3) {Buying High Number}
+
(H)
{Today's High}
+
((((H+L+C)/3)*2)-L<FONT
face="Times New Roman">
)) {LSS Pivot Breakout Sell Number}
/ 4 )
Final Buy Number: WriteVal<FONT
face="Times New Roman">((H +
(((L-Ref(H,-1)) + (Ref(L,-1)-Ref(H,-2)) + (Ref(L,-2)-Ref(H,-3))) /
3) {Decline Number}
+
(L - (((Ref(L,-1) - L) + (Ref(L,-2)-Ref(L,-1)) + (Ref(L,-3)-Ref(L,-2))) /
3)) {Buying Under Number}
+
(L)
{Today's Low}
+
((((H+L+C)/3)*2)-H<FONT
face="Times New Roman">
) {LSS Pivot Breakout Buy Number}
) / 4 )
Expected Range: WriteVal((((L + ((H-Ref(L,-1))
+ (Ref(H,-1)-Ref(L,-2)) + (Ref(H,-2)-Ref(L,-3))) / 3) {Rally
Number}
+
(H - ((H-Ref(H,-1)) + (Ref(H,-1)-Ref(H,-2)) + (Ref(H,-2)-Ref(H,-3))) /
3) {Buying High Number}
+
(H)
{Today's High}
+
((((H+L+C)/3)*2)-L<FONT
face="Times New Roman">
) {LSS Pivot Breakout Sell Number}
) / 4) - ((H + (((L-Ref(H,-1)) +
(Ref(L,-1)-Ref(H,-2)) + (Ref(L,-2)-Ref(H,-3))) / 3)<FONT
face="Times New Roman"> {Decline Number}
+
(L - (((Ref(L,-1) - L) + (Ref(L,-2)-Ref(L,-1)) + (Ref(L,-3)-Ref(L,-2))) /
3)) {Buying Under Number}
+
(L)
{Today's Low}
+
((((H+L+C)/3)*2)-H<FONT
face="Times New Roman">
) {LSS Pivot Breakout Buy Number}
) / 4 )) )
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