[EquisMetaStock Group] Hook reversal Exploration

["Tim Hyder" <prez@xxxxxxxxx>]

Hi All,


I am trying to write an exploration to find hook reversals (today's open is less than yesterdays close, and today's close is greater than yesterdays open). Writing this part is not difficult, as you can see below.  The area I am having difficulty with, is trying to define a downtrend in Metastock code. My initial thoughts were to try check to see if yesterdays close is less than the close 2 days ago. The problem with this, is that the exploration gives you stocks that are in very strong uptrends, downtrends and everything in between.  The only stocks I am looking for are the ones that are in downtrends, due to the potential of the opportunity that this signal provides in these circumstances.

My exploration code so far is

Ref(C,-1) < Ref(C,-2) AND 

When(O<Ref(C,-1)) AND 

When(C>Ref(O,-1)) AND 

When(VOLUME >= 100000)


I am sure that there are a myriad of options for defining such a down trend, and as such I would be greatly appreciative if some of the more knowledgeable people on the list could send in a few suggestions of how to best define a such a trend.  Also is it possible to define the strength of a trend in code, as this could then also be used to further refine the search.

TIA.


Regards,

Tim Hyder









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