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Hi
Harry,
<FONT face=Arial color=#0000ff
size=2>
Thanks
for putting my mind at rest, yes your assumption of my criteria is correct. In
reality, I tend to use either 65 or 80 days to build my channels around not 30
days. I guess I am looking for sufficient range to be able to take reasonable
percentage out of after overhead and reaction time. I do most of my serious
testing using AIQ as this allows me to see consolidated results across a
universe of stocks and this gives me more confidence in evaluating the
robustness of my system assumptions. It just so happens that these longer
channels seem to be more profitable to develop systems around - that meet
my style of trading in any case.
<FONT face=Arial color=#0000ff
size=2>
<SPAN
class=667454509-13052003>By the way, I am purely a private trader with no other
commercial interests or
activities.
<SPAN
class=667454509-13052003>
<FONT face="Kunstler Script" color=#008000
size=5>Regards,
<FONT face="Kunstler Script" color=#008000
size=5>
Gordon
Sutherland
<FONT
face=Tahoma size=2>-----Original Message-----From: bex1210
[mailto:hmw3@xxxxxxxxxxxxxx] Sent: Tuesday, 13 May 2003 5:15
p.m.To: equismetastock@xxxxxxxxxxxxxxxSubject: Re:
[EquisMetaStock Group] Problem with LowestSince
functionGordon:Thanks for sending the more
detailed information. After I charted all the key items, I realized that your
goal was probably not what I had assumed after the first note.I HAD
assumed that you wanted to find the Lowest Low value WHICH OCCURS after the
Highest High value, within the past 30 days. But it appears you want
to know IF, over the last 30 days, the Lowest Low occurs after the Highest
high. If this is your goal, then I could not find anything wrong with the
analysis.You said this is the basis of a TA presentation. I assume
that you have found that this system is a good way to select stocks. Perhaps
after your presentation (so you don't loose any paying customers) you could
let us know why you think this system has merit.Harry--- In
equismetastock@xxxxxxxxxxxxxxx, Gordon Sutherland <gosuth@xxxx>
wrote:> Hi Harry,> > Glad you like the way I
structured the Columns, you will appreciate it> is always a challenge
with only 6 Columns to play with in the Explorer.> > I
have been through the code again and have done a scan of my database>
(Australasian EOD) and scanned ca 160 stocks and the Explorer came up>
with 36 stocks that met the rules. I have checked each and every one
of> these 36 stocks and in every case they met the criteria in the
scan. Now> we all know that strange things can happen when coding stuff
like this> so if you can post a report where the "Days2High" is less
than the> "Days2Low" Column then I would be grateful. As I said
previously, I will> be using this code as part of a TA Society
presentation in a months time> so I don't need egg on my face or more
importantly dish-out bad code!> > For the record and those
that are interested, I post below the Rules and> the Output from my
Exploration. You will see that in each case the> Lowest Low occured
after the Highest High within the last 30 days. I> also eye-balled the
results on the charts to make double sure!> >
INPUTS:> > Exploration
notes: Finds those tickers that have
a Lowest Low> within
the>
last 30 periods where the Highest High> in the last
30>
periods occured before the Lowest Low.> It
then>
computes the % range from High to Low> and
indicates>
where the Current Close is as a % of> this range.
This>
could be used as a scan for potential> buy opportunities.>
> Col A:
LLV30$
LLV(LOW, 30)> Col B:
HHV30$
HHV(HIGH,30)> > Col C:
Days2Low LLVBars(LOW,
30)> > Col D:
Days2Hi
HHVBars(HIGH,30)> > Col E: Range
%
PREC((((HHV(HIGH, 30) - LLV(LOW, 30))/ LLV(LOW,> 30))) *
100,1)> > Col F:
C%Range PREC(((CLOSE -
LLV(LOW,30)) / (HHV(HIGH,30) -> LLV(LOW,30))) * 100,1)>
>
Filter
LLVBars(LOW, 30) <
HHVBars(HIGH,30)>
{Only finds tickers where LLV has>
occurred>
after the HHV in the last 30 days -> Buy
Opportunities}> > > Filter
enabled
Yes>
Periodicity
Daily> Records required
39> > OUTPUT REPORT:> >
Sec... LLV30$
HHV30$ Days2Low
Days2Hi Range %> C%Range>
CUE
0.0430
0.0500 0.0000
25.0000 16.2000> 0.0000>
ANM
0.2300
0.4350 3.0000
19.0000 89.1000> 2.4000>
CTL
1.4700
2.2200 0.0000
25.0000 51.0000> 3.9000>
CSR
1.5500 6.5200
27.0000 28.0000
320.6000> 5.0000>
FBU
2.8600
3.1800 6.0000
28.0000 11.1000> 6.2000>
ERG
0.0920
0.1200 0.0000
14.0000 30.4000> 7.1000>
CLT
0.6300
0.8400 6.0000
17.0000 33.3000> 9.5000>
CSL 14.1300
16.5000 1.0000
29.0000 16.7000> 11.3000>
BRZ
0.6400 1.1700
17.0000 27.0000
82.8000> 11.3000>
AMP
4.9400
8.8900
1.0000 8.0000
79.9000> 12.6000>
DVN
0.4000 0.4750
23.0000 24.0000
18.7000> 13.3000>
CCL
5.2800
5.8700 4.0000
15.0000 11.1000> 18.6000>
BHP
8.4500
9.6700 2.0000
21.0000 14.4000> 19.6000>
ARQ
0.5600
0.6600 9.0000
28.0000 17.8000> 19.9000>
AQP
5.0000
6.2000 7.0000
14.0000 23.9000> 20.8000>
EQI
0.8400
0.9300 1.0000
11.0000 10.7000> 22.2000>
CHY
1.4000
1.6200 1.0000
28.0000 15.7000> 22.7000>
ADX
0.3000 0.5000
14.0000 29.0000
66.6000> 24.9000>
AUO
0.4500
0.5500 5.0000
17.0000 22.2000> 29.9000>
CRS
0.5100
0.7300 2.0000
26.0000 43.1000> 31.8000>
DJS
1.0400
1.1000 2.0000
16.0000 5.7000> 33.3000>
AAT
0.1500
0.1800 6.0000
19.0000 20.0000> 33.3000>
GRD
0.9900
1.0700
1.0000
9.0000 8.0000> 37.4000>
DOT
1.0800 1.1700
19.0000 27.0000
8.3000> 44.4000>
BEN
7.4000 7.8500
14.0000 22.0000
6.0000> 48.8000>
AIZ
0.3200 0.4750
10.0000 29.0000
48.4000> 51.6000>
ALL
1.5300 1.8400
14.0000 22.0000
20.2000> 54.8000>
AOF
1.1000 1.2200
23.0000 28.0000
10.9000> 58.3000>
GAP
1.5400
1.9800 2.0000
24.0000 28.5000> 59.0000>
CSM
0.5600
0.6100 6.0000
12.0000 8.9000> 59.9000>
CLH
1.2800 2.1500
20.0000 29.0000
67.9000> 62.0000>
FXJ
2.7900 3.2000
16.0000 22.0000
14.6000> 65.8000>
AGG
8.9500
9.9300 7.0000
25.0000 10.9000> 66.3000>
AGI
0.4200 0.5100
24.0000 26.0000
21.4000> 66.6000>
FFL
1.6100 1.8600
16.0000 29.0000
15.5000> 67.9000>
BIR
0.6700
0.7800 5.0000
21.0000 16.4000> 81.8000>
> Sorry about the crooked line-up of the columns above!>
> Regards,> > Gordon Sutherland> >
-----Original Message-----> From: bex1210 [mailto:hmw3@xxxx] >
Sent: Monday, 12 May 2003 5:26 p.m.> To:
equismetastock@xxxxxxxxxxxxxxx> Subject: Re: [EquisMetaStock Group]
Problem with LowestSince function> > > Gordon:>
> I like the way you structured your columns. I think I will use
this> format when I get to the Explorer stage.> >
Unfortunately, you don't get the LLV after the HHV either. If you>
carefully look at some charts, you will see some instances where LLV()>
or LowestSince() do NOT give you the correct LLV. The HHV will have>
changed, but the LLV will NOT have changed to a value that corresponds>
to a date after the HHV. In those conditions, your filter will not
pick> up the correct stock.> > This is a frustrating
exercise. With Roy's help, I have gotten very> close, but not 100%
success.> > Harry > > --- In
equismetastock@xxxxxxxxxxxxxxx, Gordon Sutherland <gosuth@xxxx>>
wrote:> > Harry,> > > > I do not profess
to be a whiz at programming but I needed to do> > something similar
to your request some little while ago and I came up> > with the
undermentioned method in the Explorer. You may wish to tidy>
the> > code up somewhat to meet your requirements in each
column.> > > > Column A: Lowest Low in last 30
periods - LLVBars(LOW, 30)> > Column B: Highest High in
last 30 periods - HHVBars(HIGH,30)> > Column C: $ Range in Period -
PREC((((HHV(HIGH, 30) - LLV(LOW, 30))/> > LLV(LOW, 30))) *
100,1)> > Column D: Current Close as % Range from LLV - PREC(((CLOSE
-> > LLV(LOW,30)) / (HHV(HIGH,30) - LLV(LOW,30))) * 100,1)>
> Filter: LLVBars(LOW, 30) < HHVBars(HIGH,30)>
> {Only finds tickers where LLV has occurred after
the HHV in the> last> > 30 days} > > >
> Regards,> > > > Gordon Sutherland> >
> > -----Original Message-----> > From: bex1210
[mailto:hmw3@xxxx] > > Sent: Saturday, 10 May 2003 7:52 a.m.>
> To: equismetastock@xxxxxxxxxxxxxxx> > Subject: Re:
[EquisMetaStock Group] Problem with LowestSince function> > >
> > > Donald:> > > > I tried your suggestion.
Unfortunately, it has many of the same> problems> > that my
original suggestion, and Roy's have: in a market where the>
stock> > price is rising and falling (i.e., not trending), the
correct LLV does> > not get picked up after a new HHV (per the
period) has been> established.> > > > To summarize,
this is what I am trying to do:> > 1. find the highest high value
over a period> > 2. then find the lowest low value AFTER the highest
high from #1> > 3. calculate the price change from the lowest low
(#2) to today's> > close (then use Explorer to rank the stocks by
their price change)> > > > I can calculate #1 using HHV().
It charts just fine.> > I think I can calculate #3 using
div().> > But it is #2 that causes the problem.> >
> > I modified a suggestion that Roy made, and have come up with
this:> > H1:=HHV(H,30);> >
L1:=LowestSince(1,H1=H,L);> >
L2:=LLV(LowestSince(1,H1<>Ref(H1,-1),L),30);> >
S3:=Max(L1,L2);> > H1;S3; {i.e., not charting L1 or L2}> >
> > This is "almost" correct. I tried it on a few stocks, and some
weekly> > charts also. There were some mistakes, but none looked too
serious.> > > > If you plot your suggestion, plus the
above, for several stocks, you> > will see where the problems occur.
> > > > Thanks for your help. I am new to Metastock, and
always open to> > suggestions!> > > >
Harry> > > > > > --- In
equismetastock@xxxxxxxxxxxxxxx, "keara33903" <keara33903@xxxx>>
> wrote:> > > Hi:Try> > >
LowestSince(1,cross(H,Ref(HHV(HIGH,40),-1)),LOW) Don't know what> your
> > > doing but <> gives a constant 1 and generally doesn't
give what you > > > want. Cross(above, below) gives a spike which
is needed to start > > > lowestsince(jk,KJK,JK) Donald >
> > > > > --- In equismetastock@xxxxxxxxxxxxxxx, "bex1210"
<hmw3@xxxx> wrote:> > > > Roy:> > > >
> > > > Thanks for the explaination of when true/false is
required. I must> > > > admit I have lots of trouble
understanding the nuances of the > > > Metastock manual.>
> > > > > > > Unfortunately, your > > >
> "LowestSince(1,H>Ref(HHV(HIGH,40),-1),LOW)" > > > >
doesn't work any better than my> > > >
"H1:=HHV(HIGH,40);> > > > LowestSince(1,H1=HIGH,LOW)".>
> > > > > > > Both get in trouble when the high rises
and falls, yet does not > > > exceed a previous high over the 40
period. Trying charting any stock> > > > that rises and
falls (i.e., is not trending). Then plot an Indicator> > >
> of "HHV(HIGH,40)". Then plot a 2nd indicator of either of the two
> > > LowestSince() formulas above. You will see that there are
spots> where > > > the HHV indicator drops over time to
pick up a newer (and lower)> HHV, > > > but the
LowestSince() doesn't recognize the newer HHV, and therefore> >
> > doesn't change the Low as it should. (It make take looking
at> several > > > stocks before you find one with the
correct relations of relative > > > highs.)> > >
> > > > > I thought I had a solution by calculating the
period back to when > > > the HHV occurred, and then substituting
that period into llv(); such> > > > as> > >
> "H1:=HHVBars(HIGH,40);> > > > llv(low,H1)"> >
> > but Metastock will not allow a variable for the period in llv()
> > > [although it does allow variables for periods in formulas
such as> rsi> > > ().]> > > > >
> > > So I am stuck. With your vast experience in using these
Metastock > > > formulas, perhaps you have another
suggestion.> > > > > > > > And yes, when I can
get something to chart correctly, my plan is> to > > > use
it in the Explorer, and hopefully also in the System Tester.> > >
> > > > > Harry> > > > > > >
> > > > > > > > > --- In
equismetastock@xxxxxxxxxxxxxxx, "Roy Larsen" <rlarsen@xxxx>>
> > > wrote:> > > > > Harry> > >
> > > > > > > I misunderstood/misread your question.
I wrongly assumed it was > > > concerning> > > >
> an exploration.> > > > > > > > > >
Looking at your example below, you are using a price "HHV> > >
(HIGH,40)" as if it> > > > > were a binary value (true or
false). Any price above $1 will be > > > treated as a>
> > > > binary true. You need to set up a true/false condition
inside> the> > > > > LowestSince() possibly
"LowestSince(1,H>Ref(HHV(HIGH,40),-> > > 1),LOW)". I'm>
> > > > assuming the prices you are working with are nearly always
> > > greater than $1.> > > > > > >
> > > Sorry for the earlier misinformation. Hope this puts you on the
> > > right track> > > > > > > >
> > Roy> > > > > > > > > > -----
Original Message ----- > > > > > From: "bex1210"
<hmw3@xxxx>> > > > > To:
<equismetastock@xxxxxxxxxxxxxxx>> > > > > Sent:
Saturday, May 03, 2003 5:10 PM> > > > > Subject: Re:
[EquisMetaStock Group] Problem with LowestSince > > >
function> > > > > > > > > > >
> > > > > Roy:> > > > > >> >
> > > > Thanks for the rapid response.> > > > >
>> > > > > > I think I understand the "periods"
suggestion, and will set > > > that up as a> > >
> > separate Indicator to call by Explorations.> > > >
> >> > > > > > But I don't understand your
response on LowestSince(), or my > > > question was> >
> > > not phrased well, or both!> > > > >
>> > > > > > I was first trying to use LowestSince ()
in a chart. It was my> > > > > understanding, from one of
your earlier posts, that Indicators> in > > >
charts> > > > > scan ALL loaded data; so minimum should not
be an issue as it is> > > > in the> > > >
> Explorer.> > > > > >> > > > >
> When I try to chart an Indicator using "LowestSince(1,HHV> >
> (HIGH,40),LOW)",> > > > > I get a plot line identical
to the Low of each day (i.e., I get > > > today's low>
> > > > today, yesterday's low for yesterday, etc.)> >
> > > >> > > > > > I then thought that
perhaps there had to be some form of cross> > > >
for> > > > > LowestSince() to function, so I created an
Indicator which used:> > > > > >
H1:=HHV(HIGH,40);> > > > > >
LowestSince(1,H1=HIGH,LOW)> > > > > >> > >
> > > This at least plots a curve, and works correctly part of the
> > > time, but> > > > > when the stock price
(High) rises and subsequently falls over a > > > period
of> > > > > time, AND the resulting High is below my
calculated H1, then > > > LowestSince()> > > >
> calculates the wrong Low. I also tried H1<HIGH, and even>
H1>HIGH, > > > and> > > > > combinations.
None work.> > > > > >> > > > > >
So there is something which I must not understand about how > > >
LowestSince()> > > > > actually functions.> >
> > > >> > > > > > Any wisdom would be
greatly appreciated.> > > > > >> > > >
> > Harry> > > > > >> > > > >
> --- In equismetastock@xxxxxxxxxxxxxxx, "Roy Larsen" > > >
<rlarsen@xxxx> wrote:> > > > > > >
Harry> > > > > > >> > > > > >
> When using LowestSince() in the Explorer you must force it> to
> > > scan at> > > > > least> > >
> > > > the required number of bars, and preferably more.>
ValueWhen() > > > and> > > > > > >
BarsSince() are other function that will not return expected> >
> > values when> > > > > > > used with
"minimum" bars.> > > > > > >> > > >
> > > And don't forget the many functions using any form of >
> > exponential> > > > > smoothing> > >
> > > > require at least 5 times more data than the
longest> "periods" > > > used by> > > >
> the> > > > > > > offending functions.>
> > > > > >> > > > > > > To access
a "Periods" value for ALL exploration columns I > > > suggest
you> > > > > create> > > > > > >
an indicator specifically for this purpose. You can set up > > >
any number of> > > > > > > variable values then use
FmlVar() in your exploration> columns > > > to
call> > > > > the> > > > > > >
required value. This could be used for dates as well as > > >
numbers. Just be> > > > > > > aware that there is a
performances trade-off when the number> > > > of
formula> > > > > > > calls begins to climb.>
> > > > > >> > > > > > >
Roy> > > > > > >> > > > > >
>> > > > > > > ----- Original Message -----
> > > > > > > From: "bex1210"
<hmw3@xxxx>> > > > > > > To:
<equismetastock@xxxxxxxxxxxxxxx>> > > > > > >
Sent: Saturday, May 03, 2003 5:59 AM> > > > > > >
Subject: [EquisMetaStock Group] Problem with LowestSince > > >
function> > > > > > >> > > > >
> >> > > > > > > > I have Metastock 8.01,
EOD version. I am trying to > > > calculate the> > >
> > lowest> > > > > > > low since the highest
high for use in an Explorer. But I am > > > having real>
> > > > > > problems.> > > > > > >
>> > > > > > > > To visualize what is
happening, I have created indicators > > > to plot on>
> > > > > > charts. If I create an indicator for the
HighestHigh [hhv()]> > > > for a> > > >
> specific> > > > > > > period, it plots
correctly. So does Lowest Low [llv()].> > > > > > >
>> > > > > > > > But when I try to plot the
lowest low since the highest > > > high for a> > >
> > period> > > > > > > using
[LowestSince(1,HHV(HIGH,40),LOW)], all I get is > > >
today's low. If I> > > > > > > change the Nth figure
to 2, I get yesterday's low. Neither > > > are the real>
> > > > low> > > > > > > since the last
high; not anywhere close.> > > > > > > >>
> > > > > > > Clearly I am doing something wrong. Can
someone provide a > > > little> > > > >
guidance?> > > > > > > >> > > >
> > > > Thanks in advance,> > > > > > >
>> > > > > > > > Harry> > > >
> > > >> > > > > > > >> >
> > > > > >> > > > > > >
>> > > > > > > >> > > > >
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> > > > > >
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