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Kevin
I have no argument with anything you say. When used properly the forward
reference is a useful tool. When not used properly it's a menace.
Unfortunately many MetaStock beginners and a surprising number of more
experienced users don't know the difference.
I agree with Henry on this one though - I won't use it, and I can't recall a
situation where I've needed to.
Roy
> Hello Roy,
>
> Many thanks for your input on this issue. Your comments regarding good
> coding practise and forward references are certainly valid but, in my
> opinion, with certain caveats.
>
> Any programming language is a tool to get the job done and the MS
language,
> even with its limitations, is one such tool. Therefore, I think that it is
> necessary to take a closer look at what we want to achieve before deciding
> upon a one-size-fits-all standard.
>
> In the case of an Exploration, you are quite right; a forward reference is
> not valid which is logically correct within the context of what we want to
> achieve with an Exploration. The same probably applies to the System
> Tester; we can achieve the desired results by exclusively using backward
> references which, once again, reflects the real world.
>
> However, (I think that) the situation is a little different when we are
> dealing with charts which are primarily visual aids and conceptually
> different in nature. If you want to identify a swing high/low bar on a
> chart, then the forward reference is the tool for the job. After all,
> aren't the Extend Right function on a trendline, or the use of displaced
> moving averages, effectively forward references?
>
> I guess the answer is that it all depends......
>
> Regards
> Kevin
>
> At 11:35 25/11/2003 +1300, you 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@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
> > >
> >
> >
> >
> >
> >To unsubscribe from this group, send an email to:
> >Metastockusers-unsubscribe@xxxxxxxxxxx
> >
> >
> >
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>
>
>
>
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>
>
>
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>
>
>
>
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