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Jay
The following code taken from the Enter Long side of the "PS Fractal Trading
System 1" system in MS 7.2 (and above) is a good example of how a peak
preceded by two lower highs and followed by two lower highs can be coded and
the vale of the peak captured without resorting to positive references. The
second formula is variation on the same code that also detects two
contiguous peak bars of the same value.
The only difference between this and positive reference code performing the
same task is the point of reference. I maintain that the point of reference
should always be from the present looking backwards (to the past), not from
some point in the past looking further into the past and also into the
future.
Roy
{PS Fractal Trading System 1} {Enter Long}
F1:=ValueWhen(1, H < Ref(H,-2) AND
Ref(H,-1) < Ref(H,-2) AND
Ref(H,-3) < Ref(H,-2) AND
Ref(H,-4) < Ref(H,-2),Ref(H,-2));
Cross(H,F1);
{Fractal High}
Single:=Ref(H,-2)>Ref(H,-4) AND
Ref(H,-2)>Ref(H,-3) AND
Ref(H,-2)>Ref(H,-1) AND
Ref(H,-2)>H;
Double:=Ref(H,-2)>Ref(H,-5) AND
Ref(H,-2)>Ref(H,-4) AND
Ref(H,-2)=Ref(H,-3) AND
Ref(H,-2)>Ref(H,-1) AND
Ref(H,-2)>H;
F:=ValueWhen(1,Single OR Double ,Ref(H,-2));
F;
> In a message dated 11/24/2003 1:32:39 PM Pacific Standard Time,
> rlarsen@xxxxxxxxxxxxxx writes:
> 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.
> I use Clayburg's support and resistance in an Expert and find them
valuable
> for stop/entry points. I see no other way to create the symbols than to
code a
> forward reference for a Category 2 (or 1 or 3) support or resistance. If
you
> have a method to do this exclusively with negative references, please
post.
>
> Category 2 support: A low range (not close) preceded by two ranges that
were
> higher ranges, and followed by two higher ranges.
>
> Category 2 resistance: The reverse of the above.
>
> This support and resistance will not display until two days (tics) after
the
> occurrence and makes an excellent entry/stop point. Several people on
this
> list have been asking for Clayburg formulas and to deny the forward
reference is
> to deny them that information.
>
> I still use the When statement (simply a variation of an If statement) in
> some of my formulas and it is still supported by MetaStock. I see nothing
wrong
> with passing on all information regarding MetaStock code.
>
> Again, please post a formula that supports Category 2 formulas without a
> forward reference.
>
> Jay
>
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