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Grizz,
Thanks for your time and your thoughts on this one. I will check it
out over time and see how it performs. Many thanks,
Pete.
--- In equismetastock@xxxx, "grizz003" <grizz002@xxxx> wrote:
> The BEST way to make money in the stock market is to write a lot
of
> articles or a lot of books on how to make money. The article you
> refer to falls into this interesting category.
>
> Start with a custom indicator as follows:
>
> Title: Candlesticks Testing
>
> Buyit := (EngulfingBull() OR MorningStar() OR Hammer());
> if(Buyit,+1,0);
> {end}
>
> Your custom indicator will spike to a +1 on every occurance. You
be
> absolutely shocked at how many of these things are plastered
across
> the chart. Everywhere at bottoms, tops and in between.
>
> Then overlay your selected indicators OVER the above custom
indicator
> to see if these candles make any sense when conbined with an
> indicator. Pick out your indicator levels that best LOOK like good
> entries.
>
> Metastock Momentum is MO(periods) and Relative Strength is RSI
(C,14);
>
> Then lastly, combine all into your custom indicator to see how
well
> it calls bottoms:
>
> Buyit:=(EngulfingBull() OR MorningStar() OR Hammer())
> AND Mo(14)>0
> AND RSI(C,14) < 100
> AND RSI(C,14)<70;
> if(Buyit,+1,0);
> {end}
>
> Now with the +1 spikes clearly seen over the chart, you can begin
> adjusting parameters on the RSI, MO formula to improve the calls.
>
> Repeat the above for a new indicator for selling. When you have
> adjusted the formulas just right, then transfer them into the
system
> test for profit testing.
>
> Grizz
>
> --- In equismetastock@xxxx, "ms4pete" <peter.bond2@xxxx> wrote:
> > A Rudy Teseo piece in S.& C. magazine (V17:12)shows confirming
> > indicators for Candle signals. It is written for Super Charts
> > EasyLanguage. Can this be re-written for Metastock 7.2? It looks
> > very useful and if anyone out there can come up with formula I
> would
> > be delighted.
> > "Long Entry If"
> > [BullishEngulfing[LENGTH]OR Morning Star[LENGTH]OR Hammer
> > [LENGTH,TAIL]]and[Momentum[close,14]>0 and RSI[close,14>50 and
RSI
> > [close,14]<70]
> >
> > Buy next bar at H+1
> >
> > "Long Exit If"
> > [BearishEngulfing[LENGTH]or EveningStar[LENGTH]or DarkCloud
> [LENGTH]]
> > or[RSI[close,14]<50 or Momentum[close,14]<0]
> >
> > Exit Long next Bar at L-1
> >
> > Here's hoping.
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