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<FONT face=Arial color=#0000ff
size=2>Roy,
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You
can continue to type beyond the screen on that line but only for a bit,
then you run out of space. You also don't seem to be able to reference any
formulas that you defined above (i.e., MyIndicator :=). I'm not sure why
they had to use the separate box concept to begin with. It seems like they
could have introduced new indicator functions such as Limit() or
Stop()
to get the job done. Then we could have multiple stops and targets to use
as we please. But, hey, Lionel pointed out already that they are not
traders, right? If they had assembled a group of us from this list,
you can be sure that is how we would have done it.
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That
little symbol you are talking about is to click on if you need help writing the
formula. It is the same as clicking on your "Function" box now when you
are in the indicator builder.
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size=2>
As for
Trade Equity, thanks for the suggestion. I've read good things about
it. I trade both sides of the market and need to see both shorts and
longs, though.
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I'll
wait to hear back from Equis but if all else fails, I have been thinking more
about Excel since the post this morning. You actually don't need to know
the formulas in Excel because you can build everything in MS and cut and paste
it over (I don't have to test a large number of securities - only a
handful). Then you are down to just referencing the boxes for longs,
shorts, profit targets and stops.
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size=2>
The
way I go about testing systems is first I find a concept that works. Thus,
in my example from earlier, I was testing the idea of the 1 and 2 std. dev.
Bollinger Band system (that comes with MS) to first see if it generated any
useful signals with some x% stop. If it can't at least do that, I look no
further. If it does, I then look at all the losers to see if there is
something that can be detected from them that doesn't also filter out all the
good trades. That is when I'll usually introduce other indicators.
If anything useful comes of that, the last thing I do is see if market based
stops will improve the system (meaning something based on concepts such as a
recent low, ATR(), etc. - I don't like fixed percentage stops). It is this
last part that I was working on when I ran into the problem (the other parts are
handled very nicely by the new system tester).
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Oh,
and if all that works, I test the same system on other data not used to build
this system to make sure I haven't just been optimizing the system (there are
times when this has happened and the whole thing gets tossed - no
pride lost). Every once in a while one sticks and I'll trade
it.
<FONT face=Arial color=#0000ff
size=2>
Good
Trading,Joe J.
<FONT face=Arial color=#0000ff
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<FONT face=Arial color=#0000ff
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<FONT face=Tahoma
size=2>-----Original Message-----From: Roy Larsen
[mailto:rlarsen@xxxxxxxxxxxxxx]Sent: Friday, November 01, 2002
12:03 PMTo: Metastockusers@xxxxxxxxxxxxxxxSubject: Re:
[Metastockusers] 8.0 System testerJoeI gained
the impression that you could paste much more code into the smallbox than
is indicated by the box size. Admittedly I didn't see a scroll barbut I
seem to recall seeing a funny symbol indicating each end-of-line.If
you're looking for a drop-down equity curve why don't you check out'Trade
Equity'. It probably won't do everything you want as it doesn'taccommodate
leveraging or combine long and short trades at this stage. Thecurrent user
guide containing most formulas can be found in the filessection of this
forum.Roy----- Original Message -----From: "Joe J."
<jojab@xxxxxxxxx>To: <Metastockusers@xxxxxxxxxxxxxxx>Sent:
Saturday, November 02, 2002 7:29 AMSubject: RE: [Metastockusers] 8.0
System testerWell, we are mostly traders and not
programmers! If anyone has beenfollowing along with eSignal's
advanced chart development and systemtester on their Yahoo list, I think
they have the right idea. Theirprogrammers are listening to what the
traders want (they are both on theemail list) and making refinements as
they go along. They constantlypost new builds in beta to try
out. I think they have a ways to go butthey are making
strides.I know there are Amibroker users on this list, does it allow
you towrite formulas for both intrabar targets and stops at the same
time?Just curious.Joe J.-----Original
Message-----From: Lionel Issen [mailto:lissen@xxxxxxxxxxxxxx]Sent:
Friday, November 01, 2002 10:59 AMTo:
Metastockusers@xxxxxxxxxxxxxxxSubject: RE: [Metastockusers] 8.0 System
testerThe point has been made before that the Metastock
programmers are
nottraders.Lionel-----Original
Message-----From: Joe J. [mailto:jojab@xxxxxxxxx]Sent: Friday,
November 01, 2002 11:32 AMTo: Metastockusers@xxxxxxxxxxxxxxxCc:
equismetastock@xxxxxxxxxxxxxxxSubject: [Metastockusers] 8.0 System
testerWhile I think Equis has done a good job improving their
system tester in8.0, last night I discovered what might be a limitation
that I wouldn'thave expected.Here is a copy of an email that I
just sent to Tech Support, I'll keepthe 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 thetrade (i.e., using the cross
function). The suggestion then is to exitthe 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, Iwrote 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 1std. band. All went well.
The exits worked fine.Then, I wanted to add stops. I wanted to tell it
to exit if the low forany bar was lower than the entry bar (i.e., the bar
the condition forthe 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 thecross() 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
andunchecked the "limit" order box and changed it back to market. Now
theexit stop worked but even though the formula section still told it
toexit at a profit target when the high exceeded the upper 1 std. BB,
itdid not (I figured it would exit at the close of the bar for which
thatcondition was true instead of intrabar since I didn't have the
limitbutton 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 codedue to space.2. You can not reference defined formulas that
you wrote above in theregular section (i.e., I wrote a formula called IBBT
:= for the 1 stddev. 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 anda limit).I think these issues should be
addressed in the future.Clearly the formulas are okay because I can
get both to workindependently but not at the same time.My
questions for you are this:When building and testing the system tester
for 8.0, did you contemplateusers being able to enter both formula based
limit orders for profittargets 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 wantto adapt the system to current market conditions (i.e.,
using nearbylows to judge stops) and also use the current market
conditions to takeprofits (i.e., the 1 std. dev BB).If I am
missing something, please let me know. I've tried several otherformulas to
replace the ValueWhen/Cross/Low combination mentioned above(still using
the ValueWhen to tell me when the cross occurred but otherthings that
involved ATR() to set the stop levels - these didn't
workeither).Thanks in advance,Joe
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