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Hello Joe,
I don't know how to import Excel-generated entry/exit indicators into a
Metastock chart. However, I always think that everything is possible ;-)
By the way, Excel includes bar and candlestick charting facilities
(nowhere near as good as MS, of course).
I duplicate my entry and exit criteria in the MS system tester purely to
get what you are describing - a visual check that I then use in tandem
with my Excel report. I agree with you that it is very important. I find
this to be acceptable most of the time although I ignore the MS generated
P&L.
Thanks for the info about the v8 system tester. I was trying to deduce
from the Equis promotional material if they had made any significant
enhancements but I couldn't reach a conclusion.
Regards,
Kevin
At 09:21 01/11/02 -0700, you wrote:
Kevin,
I agree with you that the system tester prior to 8.0 was fairly
useless. Equis has made some nice improvements with 8.0 in allowing
you to program in intra-bar exits. They have also expanded the
output information that you get from the tests and allow you to keep all
the past tests (so you can go back and compare the results of changes you
made to old tests).
In terms of working in Excel,
is there any way to plot the buy/sell & exits back onto MS charts
once you have them? To me this visual check in MS is
critical. I always go back to the charts and see if my formulas are
working. Thus, for example, if I want a stop out if price crosses
the 20 EMA, then I go back and see if this is working. I know you
could go back and do this in Excel but I would rather look at a picture
of a chart than a series of numbers.
Good Trading,
Joe
J.
-----Original Message-----
From: Kevin Barry
[mailto:kevin_barry@xxxxxxxxxxxxxx]
Sent: Friday, November 01, 2002 4:13 AM
To: Metastockusers@xxxxxxxxxxxxxxx
Subject: [Metastockusers] General Remoarks On MS System
Tester
Am I missing something or am I the only one to think that the MS
System
Tester is perfectly useless?
The only available entry/exit options (up to v7.2 anyway) are Open,
Close,
High, Low. Surely what is required in order to reflect real life is
the
option to enter or exit a trade at a specific intraday price. For
example,
if you are a swing trader like myself, you may want to enter a trade
a tick
above yesterday's high or, say, when the price crosses a moving
average.
Does anybody really use the high/low options for entry/exit testing?
If you
do, your systems will backtest brilliantly.
IMO, the other major shortcoming is the inability to enter a second
trade
before the previous one has been closed. Once again, this is
unrepresentative of real life where one may wish, say, to add to an
existing position if the move continues in one's favour.
I now use Excel for all of my system testing. Tests are pretty easy
to set
up and you can plot equity curves and lots more besides. Excel
formulas for
practically all of the Metastock indicators are widely available on
the
web. You can either copy and paste MS data into your spreadsheet or
there
is a great little package called Metalib that enables you to read
Metastock
data into Excel in batch mode thereby performing one, or several,
system
tests on several equities at the same time. I found Peter Zierl at
Metalib
to be extremely helpful when I was initially setting it up for
myself.
Nearly all of the other testing requirements that I have seen
mentioned in
this forum can easily be realised using Excel. I hope that this may
be of
some help to the Group.
End Testing Misery Now!
Regards,
Kevin
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