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Roy,
First of all thank you for your responce. I am, of course, not a
programmer. To tell you EXACTLY what I am doing. I am identifying
desending triangles to monitor for a break out. Descending Triangles
that are forming at the end of an uptrend.
Now I'm tracking too many formations to watch each one I've located
individualy so I need to set up alerts. With ascending triangles it
was easy. The top of an ascending triangle is a fixed value.
Say....50. So I can set up a little alert in the expert system that
says c>50. And if the close is greater than 50 I get an alert.
But a descending triangle is not so easy. I know where each value
is along the line. But not how to program it in so that:
C > (decending trangle line) I could easily furnish two points for
the line to be formed but it is as you say a forward point in time
when the price may close above that line extended downward into the
future.
As usual when I ask for help, I probably did not give enough detail.
By the way, if anyone is interested in the formula I'm using they can
have it. It's merely something I found on the net and modified to
help me locate desending triangles with an uptrend preceding them.
It's far from perfect. I still have to dig through a good number of
false hits by hand to find ones that are actually good triangles
formations.
--- In equismetastock@xxxxxxxxxxxxxxx, "Roy Larsen" <rlarsen@xxxx> wrote:
> Metastockuser
>
>
> > I'd like to use two points to define an ascending or descending line
> > then be alerted if price closes above that line.
> >
> > I know that I can drop the formula into the Expert system and when I
> > open the chart, the alert will generate.
> >
> > But how would I define the line so that I can set it up to make a
> > Close Greater then the line create an alerts. A flat line is easy,
> > just enter the price. But an ascending or decending line would have
> > to be defined somehow.
>
> There are a number of examples of drawing a line between two points
in the archives but I suspect
> this is not what you want. You say you want to draw a line between
two points but I'm assuming that
> the first point is known (time and value) and the second point is a
projection to some time and
> value in the future.
>
> The essential elements required for such a line are, one, a starting
time and value, and two, an
> increment or decrement per bar. If you know these things then the
code and maths is basic stuff.
>
> The line might be coded something like this.
>
> ValueWhen(1,"unique event","starting value") + ("calculated
increment")*BarsSince("unique event");
>
>
> Roy
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