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Joe you are right on with your observations about how eSignal is
handling it upgrading process. They are making great strides in a
short amount of time and listening to the users feedback with several
forums for responding.
I have been with Equis (Computer Asset Management) since they started
back in 1985! But, I have lost alot of faith, since their buyout by
Reuters, that they can stay up with the rest ( Wealth Lab, Amibroker,
eSignal, etc.) any longer because of their size or method of
operating.
I understand that they are working on a totally new program, engine,
etc.? I wonder however, if they will ever be able to quickly respond
to the users concerns like many other developers are currently? They
have a large user base, but it must be erroding, especially for those
that want to go in the direction of intraday systems testing/trading.
Bob
--- In Metastockusers@xxxx, "Joe J." <jojab@xxxx> wrote:
> Well, we are mostly traders and not programmers! If anyone has been
> following along with eSignal's advanced chart development and system
> tester on their Yahoo list, I think they have the right idea. Their
> programmers are listening to what the traders want (they are both
on the
> email list) and making refinements as they go along. They
constantly
> post new builds in beta to try out. I think they have a ways to go
but
> they are making strides.
>
> I know there are Amibroker users on this list, does it allow you to
> write formulas for both intrabar targets and stops at the same time?
> Just curious.
>
> Joe J.
>
> -----Original Message-----
> From: Lionel Issen [mailto:lissen@x...]
> Sent: Friday, November 01, 2002 10:59 AM
> To: Metastockusers@xxxx
> Subject: RE: [Metastockusers] 8.0 System tester
>
>
> The point has been made before that the Metastock programmers are
not
> traders.
>
> Lionel
>
>
>
>
>
> -----Original Message-----
> From: Joe J. [mailto:jojab@x...]
> Sent: Friday, November 01, 2002 11:32 AM
> To: Metastockusers@xxxx
> Cc: equismetastock@xxxx
> Subject: [Metastockusers] 8.0 System tester
>
>
>
> While I think Equis has done a good job improving their system
tester in
> 8.0, last night I discovered what might be a limitation that I
wouldn't
> have expected.
>
> Here is a copy of an email that I just sent to Tech Support, I'll
keep
> the group updated:
>
> I was testing one of your standard Equis systems - the Bolliger Band
> ("BB") one. As you may recall, the idea is that you would plot two
BB's,
> one would be 2 std. dev. and one at 1 std. dev. You wait for a close
> (for longs) below the 2 std. BB and then back inside it to enter the
> trade (i.e., using the cross function). The suggestion then is to
exit
> the trade with profits when the price crosses the upper 1 std. dev.
> band. Simple enough.
>
> I wanted to take advantage of the ability to exit intrabar. Thus, I
> wrote a condition to exit when High is greater than the upper 1 std.
> band. I checked the "limit" button and entered the formula for the 1
> std. band. All went well. The exits worked fine.
>
> Then, I wanted to add stops. I wanted to tell it to exit if the low
for
> any bar was lower than the entry bar (i.e., the bar the condition
for
> the entry was made on - the cross bar). This was simple enough to
write.
> All I had to do was use a ValueWhen() function with the last time
the
> cross() condition was met and tell it if the low was lower to exit.
>
> When I did this, the exit did not work. Puzzled, I went back and
> unchecked the "limit" order box and changed it back to market. Now
the
> exit stop worked but even though the formula section still told it
to
> exit at a profit target when the high exceeded the upper 1 std. BB,
it
> did not (I figured it would exit at the close of the bar for which
that
> condition was true instead of intrabar since I didn't have the limit
> button selected - but it didn't).
>
> I tried one other thing and that was to put both conditions in the
> "limit" box. I discovered 3 things:
>
> 1. The box is very limited, you can only write a small section of
code
> due to space.
>
> 2. You can not reference defined formulas that you wrote above in
the
> regular section (i.e., I wrote a formula called IBBT := for the 1
std
> dev. upper BB so I wouldn't have to keep writing the formula out)
>
> 3. You can not put both statements in the box (i.e, a different
stop and
> a limit).
>
> I think these issues should be addressed in the future.
>
> Clearly the formulas are okay because I can get both to work
> independently but not at the same time.
>
> My questions for you are this:
>
> When building and testing the system tester for 8.0, did you
contemplate
> users being able to enter both formula based limit orders for profit
> targets and formula based stops at the same time to exit the
position?
> This is probably a very common things for a lot of traders.
>
> I don't want to use percentage stops in my example above because I
want
> to adapt the system to current market conditions (i.e., using nearby
> lows to judge stops) and also use the current market conditions to
take
> profits (i.e., the 1 std. dev BB).
>
> If I am missing something, please let me know. I've tried several
other
> formulas to replace the ValueWhen/Cross/Low combination mentioned
above
> (still using the ValueWhen to tell me when the cross occurred but
other
> things that involved ATR() to set the stop levels - these didn't
work
> either).
>
> Thanks in advance,
>
> Joe J.
>
>
>
>
>
>
>
>
>
>
>
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