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Well, Roy, I guess I should have said: Metastock was never designed
to directly allow you to determine thresholds directly.
Counting code could be written, but it hardly seems worth the effort
given the number of indicators and possible threshold combinations.
However, your email reminded me of one inexpensive product that I had
heard about that will take an indicator and determine its
effectiveness on the stocks being traded with it. It's called ICE and
it's going be released in the next month or two. It will be a
Metastock add-on, and will be sold by Equis.
It was created by Adaptick. John Slauson, the guy who wrote it, used
to work for Equis. He writes some pretty good stuff, and I expect
this one will be very good also--at least I hope so. I'm thinking ICE
may be able to help me fine tune some of my indicator thresholds.
I think I'll have an early release copy to test by next week. It has
72 indicators that it can test on any group of stocks you like. It
will determine which indicators work best for that group of stocks
and what the thresholds should be. The thresholds will vary slightly
on different groups of stocks.
In addition, it makes sure your indicators are not correlated, which
means not having more than one indicator measuring the same thing.
Indicators should be non-correlated. Most people have at least two or
three indicators that are too closely matched to be effective, when
used together.
After I have tested the product, I will write a review and post it.
It might be the solution to the indicator threshold problem.
I've heard Slauson is going to sell some early release copies at
about 1/3 of the Equis price so it's going to be very affordable--at
least for a little while.
Since I haven't used the product yet, that's about all I know about
it for now.
JO
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