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Hi Guys
First off to Kevin, let me say that I appreciate your posts and my following
comments are not meant as a general criticism of your posts, or anyone
else's for that matter. A number on this forum may not agree with me and
that is your right. However I feel strongly about one issue in particular,
and because of that I'm going to make the following comments.
I know nothing of the Clayburg method other than from looking at the code I
can see a similarity to Williams fractals.
What concerns me, and I know that Henry has already alluded to this in an
earlier post, is that there seems to be an insistence in including positive
references in the code that I've seen.
This is not good coding practice. Except for VERY specific circumstances,
one should NEVER use forward references in MetaStock. I can't stress that
strongly enough. There are a number of reasons for this, and our inability
to see into the future is the most obvious.
Virtually all code written using positive references can be rewritten with
negative references alone and still provide the same information in the same
timely manner.
If you are a beginner then my advice is NEVER use a positive reference
{Ref( x , + y )}. This should be regarded as a no-no.
If you are more advanced with MetaStock then my plea is that you don't post
code with forward references even if you choose to use it yourself. You know
its limitations but beginners don't.
Thank you
Roy
> Yes, let's say that you have three price bars; Monday, Tuesday and
> Wednesday, and you want to identify sequentially lower closes. You could
> specify:
>
> C > Ref(C,+1) AND Ref(C,+1) > Ref(C,+2)
>
> and it is logically the same as specifying:
>
> C < Ref(C,-1) AND Ref(C,-1) < Ref(C,-2)
>
> The difference being is that, in the first example, C refers to Monday
and,
> in the second, C refers to Wednesday.
>
> I hope that makes sense.
>
> If we knew the today's value of Ref(C,+1), it would be very nice indeed
;-).
>
> Regards,
> Kevin
>
>
> At 18:12 24/11/2003 +0000, you wrote:
> >
> >HI kevin does metastock make c,+1 days in the
> >indicator formations
> >
> >
> >Vinit
> >--- Kevin <kevin_barry@xxxxxxxxxxxxxx> wrote:
> >---------------------------------
> >A little while ago, I posted an indicator that
> >highlighted candlestick
> >formations as they were forming on realtime charts.
> >Here is a variation
> >that will highlight Clayburg's support and resistance
> >points as they are
> >developing:
> >
> >Create a new indicator called Clayburg S/R Histogram
> >(or whatever). Paste
> >in the following formula:
> >
> >{Category 1 High}
> >Cat1H:=
> >If(Ref(H,-1) < H AND
> > Ref(H,+1) < H,
> > 1, 0);
> >
> >{Category 1 Low}
> >Cat1L:=
> >If(Ref(L,-1) > L AND
> > Ref(L,+1) > L,
> > -1, 0);
> >
> >{Category 2 High}
> >Cat2H:=
> >If(Ref(H,-2) < H AND
> > Ref(H,-1) < H AND
> > Ref(H,+1) < H AND
> > Ref(H,+2) < H,
> > 2, 0);
> >
> >{Category 2 Low}
> >Cat2L:=
> >If(Ref(L,-2) > L AND
> > Ref(L,-1) > L AND
> > Ref(L,+1) > L AND
> > Ref(L,+2) > L,
> > -2, 0);
> >
> >{Category 3 High}
> >Cat3H:=
> >If(Ref(H,-3) < H AND
> > Ref(H,-2) < H AND
> > Ref(H,-1) < H AND
> > Ref(H,+1) < H AND
> > Ref(H,+2) < H AND
> > Ref(H,+3) < H,
> > 3, 0);
> >
> >{Category 3 Low}
> >Cat3L:=
> >If(Ref(L,-3) > L AND
> > Ref(L,-2) > L AND
> > Ref(L,-1) > L AND
> > Ref(L,+1) > L AND
> > Ref(L,+2) > L AND
> > Ref(L,+3) > L,
> > -3, 0);
> >
> >Cat1H;
> >Cat1L;
> >Cat2H;
> >Cat2L;
> >Cat3H;
> >Cat3L;
> >
> >When you have finished, plot the indicator on any
> >chart. Click on one
> >example of each of the six plots and change the style
> >to histogram and, if
> >you prefer, the high plots to green and the low plots
> >to red. Add one
> >horizontal line with a value of zero for aesthetic
> >reasons. Save as a
> >template. The height of each line will indicate which
> >category has been
> >identified corresponding to the Y-axis scale.
> >
> >Cat 3 S/R points are more significant than Cat 2,
> >which, in turn, are more
> >significant than Cat 1. The indicator will
> >automatically upgrade the
> >category as and when the need arises.
> >
> >Enjoy,
> >Kevin
> >
> >
> >
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