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Roy,
>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.
Very good advice. This is a good way to code a confirmation to your
entry signal to prevent whipsaws. Drawback is a delay in entry when
you are right...
Chris
--- In Metastockusers@xxxxxxxxxxxxxxx, "Roy Larsen" <rlarsen@xxxx>
wrote:
> 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@xxxx 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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