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I've used a variation of your masking setup to hide unwanted plot
points. Instead of using the low (or high) which interferes with what
you want plotted, use an offset of the low or high. By doing that you
then create the mask by having it plot the same offset in the same color
as the background. Using a thicker line for the mask than the underlying
helps. See the attached jpeg which uses this method to identify tops and
bottoms with little dots.
Hope I'm not totally off track with this.
Ron
Mike Sloane wrote:
> Hi Preston,
>
> I remember following that thread and I have just checked the archive.
>
> I believe the main difference is that your barsback was designed to
> plot a LINE in response to various inputs.
>
> What I am looking for is a way to tell MetaStock to only plot a
> variable function when certain conditions (not defined by the user,
> but defined by a custom indicator) are met, and I can't see
> immediately how your LINE formula could help with that; it may be that
> I can't see the wood for the trees!!
>
> I have had a bit of a fiddle with it since posting the original
> request and have found that I can mask the LOW (or HIGH for a short)
> plot on days when I am not in a trade by overlaying an extra custom
> indicator that plots the low in WHITE (or whatever background colour I
> use); only problem is it overlays on top of the price candles (yes . .
> . I am one of people who happen to like candles); so I tried CUTTING
> the base security our of the chart and then PASTING it back in; it
> works - the candles come back in over the top of the custom indicators
> and the MASK and it comes close to what I am looking for; I just end
> up with a few funny tails at the transition between the start and end
> points of a trade. Would still like to find a way to do it in formula
> language tho'.
>
> Thanks for the heads up on your earlier thread.
>
> Regards,
> Mike
>
>
>
> -----Original Message-----
> From: pumrysh [mailto:no_reply@xxxxxxxxxxxxxxx]
> Sent: Monday, 27 October 2003 6:59 AM
> To: equismetastock@xxxxxxxxxxxxxxx
> Subject: [EquisMetaStock Group] Re: anyone know how to plot a
> trailing stop only while in a trade?
>
> Mike,
>
> Some time ago I wrote an indicator called barsback Z, it stopped and
> started as you suggested. I believe it could be modified to work as
> you requested.
>
> Preston
>
>
>
> --- In equismetastock@xxxxxxxxxxxxxxx, "mfsloane" <mfsloane@xxxx>
> wrote:
> > I have an indicator that plots a trailing stop; it references
> other
> > indicators, so it knows when I am in a trade or out of trade; to
> > date I have been happy with an IF statement that effectively says:
> > IF("IN A TRADE", PLOT TRAILING STOP, otherwise PLOT LOW)
> >
> > I can drop this onto a chart and it doesn't stuff up the scaling
> > because the LOW plot is within range (if you have it plot "zero"
> > when not in a trade, the result is not pretty).
> >
> > I can colour it gray and ignore this line that hangs under the
> lows
> > (or above the highs for a short), but it does get in the way a
> > little bit and I would really prefer that it wasn't there.
> >
> > Does anyone know if it is possible to plot an indicator
> that "STOPS"
> > and "STARTS" without having to revert to either zero, or the low
> of
> > the day (or similar) when it is not required to be there?
> >
> > i.e. is there any way to code an indicator that will do:
> > IF("IN A TRADE", PLOT TRAILING STOP, otherwise do not plot
> anything).
> >
> > Any guidance will be gratefully received.
> >
> > Thanks,
> > Mike
>
>
>
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