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Hi Henry:
<<..the expert in my opinion is useless due to the fact that the 9th bar shows up 9 bars to late to make a profitable trade.>>
I think that you have to understand Clayburg. Perhaps you do. In some ways it is similar to a breakout system. All breakout systems that I've seen are dependent on prior highs or lows, whether they were yesterday or ten days ago, and sometime farther in the background than that. It is what The Turtles system is based on and one of their parameters is a close over the past 55 days high. If you remember a post a few days ago it mentioned that the number one system evaluated by Futures Truth was the Donchian system, a breakout system which can also take out very old highs or lows.
Clayburg, as I understand him, takes a little different approach. He sets up Stochastic, %R, or other oscillator signals and that becomes the signal. Then, with certain conditions within the signal generator remaining constant (relatively speaking), you take a position based on the Category 1.2, or 3 resistance points. Your signal may even be in the opposite direction of the trend, and you may have several of them, but you don't take a position until one of those support/resistance levels are broken which may take several price bars (his method was written for day trading) or not at all.
The 'standard' breakout is easy to code. You just compare the current close with the HHV/LLV of the time period you are following. Clayburg's is more difficult and I wish I had my Cobol up and running to look at it closer.
Jay
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