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TAtrader
> Roy, just to clarify. I mistyped "not" for "now" in my message
> below. That is, I can now [not] do what I was trying to do.
One word makes a big difference :)
> I am not sure about your comment on LastValue not being of value in
> backtesting. Are your referring to use in the System tester? My
> use in the Explorer is of the form:
>
> Ref(DI(), -(LastValue(LLVBars(cycle formula,Z periods)))
Your use of LastValue() in the explorer lookes fine.
> This lets me look back to the last trough of the cycle formula and
> use the corresponding value of DI()at the time of the trough. I can
> then compare it with the current value of DI() and consider
> divergence of DI().
>
> What does the +PREV-PREV do?
It would allow you to look back as many troughs of the cycle pattern as you
had data for.
What "+PREV-PREV" does inside LastValue() is that it returns the appropriate
current value of your formula for each bar as a constant rather than just
the last value being applied to every bar. For example it allows you to
"adjust" the "Periods" parameter of functions. You could say that it
converts LastValue() to CurrentValue(). In an exploration you are only
concerned with what's happening on the right side of the chart - the most
recent pattern. In the System Tester or any other back-testing tool you are
interested in patterns occurring right though the available test data and
LastValue("my formula"+PREV-PREV) may allow you to do that whereas
LastValue("my formula") doesn't.
If you're not into back-testing then this is probably not an issue to worry
about.
Roy
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