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Although the Power Pivots add-on is probably the best yet made
available for Metastock users, the whole idea of the system tester,
expert explorer and indicator builder is to be able to realize ones
own trading ideas and be able to adapt the code at wish. An add-on,
which is password-protected is of little real help to a system
developer.
The pivot momentum model included in the Power Pivots add-on seems to
generate a constantly rising equity curve in almost all markets and
time frames. The model description is as follows:
It analyzes the current momentum high and low pivots as they are
created, and trades in the direction of that trend.
Entry - A long entry is generated when minor low pivots begin forming
at a faster rate, and a higher price, than intermediate high pivots.
Conversely, a short signal is generated when minor high pivots begin
forming at a faster rate, and a lower price, than intermediate low
pivots.
Exit - The model looks to exit the market once the rate at which
pivots are being formed drops below a certain threshold.
We know Pivot is
(H+L+C)/3
But how do we calculate these new pivot terms
1). high Pivot;
2). low pivot;
3). minor high pivot;
4). minor low pivot;
5). intermediate high pivot;
6). intermediate low pivot
7). Current momentum of high pivot and low pivot
8). Direction of momentum trend
9). Rate of formation of pivot
Question: Has anyone attempted to code a similar strategy or has
anyone suggestions as to how one could go about it?
Grateful for any input,
Tim
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