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Ooops . . .
<SPAN
class=229570708-29072003>
My empty post was
supposed to read:
<SPAN
class=229570708-29072003>
This is direct from
the Metastock Help files on Three Line Break . . . (just substitute green
for white and red for black)
<SPAN
class=229570708-29072003>
"Three Line Break
charts originate from Japan and were introduced to the western world by Steve
Nison (a well-known authority on the Candlestick charting method). The
Three Line Break charting method gets its name from the default number of line
blocks typically used.Using the closing price, a new white block is added in
a new column if the previous high price is exceeded. A new black block is
drawn if the close makes a new low. If there is neither a new high or low,
nothing is drawn.
With a default Three
Line Break, if a rally is powerful enough to form three consecutive white
blocks, then the low of the last three white blocks must be exceeded before a
black block is drawn. If a sell-off is powerful enough to form three
consecutive black blocks, then the high of the last three black blocks must be
exceeded before a white block is drawn.To draw line break blocks, today's
close is compared to the high and low of the previous block. A block is
drawn only when today's close exceeds the high or low of the previous
block. If today's close is higher than the top of the previous block, a
new white block is drawn in the next column from the prior high to the new high
price. If today's close is lower than the bottom of the previous block, a
new black block is drawn in the next column from the prior low to the new low
price. If the close fails to move outside the range of the previous blocks
high or low, then nothing is drawn.
With the default
Three Line Break chart, a downside reversal (i.e., white blocks change to black
blocks) occurs when the price moves under the lowest price of the last three
consecutive white blocks. A black reversal block is drawn from the bottom
of the highest white block to the new price. An upside reversal (i.e.,
black blocks change to white blocks) occurs when the price moves above the
highest price of the last three consecutive black blocks. A white reversal
block is drawn from the top of the lowest black block to the new high
price.
Indicators
calculated on Three Line Break charts use all the data in each column and then
display the average value of the indicator for that
column."
-----Original Message-----From:
biffsson1974 [mailto:biffsson@xxxxxxxxxxx] Sent: Tuesday, 29 July
2003 4:32 PMTo: equismetastock@xxxxxxxxxxxxxxxSubject:
[EquisMetaStock Group] Three Line Break???
I got a question about Three Line
Break that i read about in this Yahoo Group. "Three line break is
already in metastock. Click on the price line. Go to the box on the
left bottom of the screen. Go all the way to the bottom under Renko where
it says three line break. In side one of the boxes, right click your
mouse, pick the first box, it opens your color window, pick whatever
colors you want for up and down boxes." I give the "up" the
colour GREEN and "down" the colour REDMy question is:If the last 4
bars is GREEN, is it possible to see on what price the next bar (tomorrow)
will get the colour RED?For an example. I buy Ericb.st (a Swedish
stock) on 8th of July when it turn GREEN on 9,40KR (Swedish crowns). Now 6
bars later it still is GREEN and the price is 11,50KR. I want to sell when
the next bar turs RED. But how can I know on what price it turs RED? I
want Stop Loss on that price.Another question:Is it possible
to get this formula in Explorer? Or in Expert Advisor"? If "yes"... What
is the formula?/MagnusTo
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