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Preston
1. I see exactly what you mean. On KO, you have to go back to
Mar 15, 01 to find this indicator working as a breakout tool. KO has been in a
solid downtrend since then.
2. So why does a breakout tool help identify sell points in a
downtrend? The answer is that it signals rallies and, in a downtrend, short sell
opportunities follow the rallies.
3. So, here is more of the scan code that, as a breakout tool,
ensures we are in at least a short term uptrend.
Mov(C,20,S)>Mov(C,40,S) AND C>Mov(C,40,S) ANDC >
Ref(HHV(C,10),-1) AND Ref(LLV(O,10),-1) > .95 * Ref(HHV(C,10),-1)
ANDRef(LLV(C,10),-1) > .95 * Ref(HHV(O,10),-1)
4. As an indicator, this should do a better job of pointing
out breakouts that have a better chance of continuing up because they are in an
uptrend. False signals (sees) could be reduced by demanding a longer term
uptrend.
My thoughts
David
----- Original Message -----
<BLOCKQUOTE
>
<DIV
>From:
<A title=no_reply@xxxxxxxxxxxxxxx
href="">pumrysh
To: <A
title=equismetastock@xxxxxxxxxxxxxxx
href="">equismetastock@xxxxxxxxxxxxxxx
Sent: April 4, 2003 11:38 PM
Subject: Re: [EquisMetaStock Group] Help
with breakout exploration.
Forgot the indicatorC > Ref(HHV(C,10),-1) AND
Ref(LLV(O,10),-1) > .95 * Ref(HHV(C,10),-1) ANDRef(LLV(C,10),-1)
> .95 * Ref(HHV(O,10),-1)--- In <A
href="">equismetastock@xxxxxxxxxxxxxxx,
pumrysh <no_reply@x...> wrote:>
David,> > In order to save time I often use a formula as an
indicator. The > signal is +1 when the condition is met. In your case
that is exactly > what I did. When I placed the indicator on a
coca-cola chart I had a > number of great sell opps. Keep in mind
that the conditions of your > test and mine were different as they
should be. Some systems work > better on different types of stocks than
others...that's not > uncommon. The beauty of being able to test ahead
of time is knowing > which system is likely to work the best.>
> A technical analysis should always be aware of varying market
> conditions.> > Preston> > >
--- In equismetastock@xxxxxxxxxxxxxxx, "DAVID H. LINTON" >
<dhlinton@xxxx> wrote:> > pumrysh> > Can you tell me
in some detail what you did. > > This is a MetaStock exploration. As
with all explorations, it is > intended to scan a universe of
stocks.> > If you copied it into a new exploration and ran it on
COKE and/or > KO, you would get a result only if the stock was breaking
out. It can > not identify selling opportunities.> > Did
you perhaps convert it into an indicator. If so, please post > the code
you used.> > David> > ----- Original Message
----- > > From: pumrysh > > To:
equismetastock@xxxxxxxxxxxxxxx > > Sent: April 4, 2003
2:49 PM> > Subject: Re: [EquisMetaStock Group] Help with
breakout > exploration.> > > > >
> Tried your scan on coke and found more selling
opportunities.> > > > P> > >
> --- In equismetastock@xxxxxxxxxxxxxxx, "DAVID H.
LINTON" > > <dhlinton@xxxx> wrote:>
> > Here is a breakout scan I have been developing recently.
> > > > > > C >
Ref(HHV(C,10),-1) AND > > > Ref(LLV(O,10),-1) >
.95 * Ref(HHV(C,10),-1) AND> > > Ref(LLV(C,10),-1)
> .95 * Ref(HHV(O,10),-1)> > > >
> > Comments would be appreciated.> >
> Also, if anyone has the congestion and consolidation formulae >
> previously mentioned, please post.> >
> Thanks> > > David> > > >
> > > ----- Original Message -----
> > > From: ct1942 >
> > To: equismetastock@xxxxxxxxxxxxxxx >
> > Sent: April 4, 2003 10:56 AM>
> > Subject: [EquisMetaStock Group] Help with
breakout > exploration.> > > >
> > > > > At one time I
had two explorations, one for breakouts and one > for >
> > breakdowns. I think they used a congestion
index formula and > a > > >
consolidation formula.> > > > >
> My hard drive crashed 3 months ago and apparently these
> > explorations > >
> were not backuped.> > > >
> > If someone has these, I would appreciate
their sharing them > with > > me.>
> > > > > Thanks,
> > > > > >
Cordell Thomas > > > > > > >
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