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Hi Richard,
Good point, you are correct indeed. The same holds for percent test
on continuous data adjusted the way you suggest. In that case results
are meaningless.
My problem is specific. I have the choice of either point or percent
test in the software I use which discovers patterns from historical
data (APS v4.0 from www.tradingpatterns.com) and generates formula
code. I spoke to Mike Harris (developer of APS) and he suggested that
I use point test only on continuous adjusted futures and percent test
only on split adjusted stock data. Then, I tried to adjust some
futures contracts using the manual adjust of Metastock (v7.0 pro) and
there you go, I got meaningless results. I then found out the low was
not adjusting in the downloader manual adjust.
I guess I must upgrade my Metastock but I was always scared of doing
than thinking that I maybe be screwing things upt and losing my
systems. It seems I will have to do it now to have this bug corrected.
I will take a look at yout data service.
Regards,
Joe
--- In Metastockusers@xxxxxxxxxxxxxxx, "Richard Dale" <richard@xxxx>
wrote:
> Dear Dusant,
>
> Be careful if you use a ratio adjustment as you state (ratio between
> yesterday's to today's close prices when you roll) when you are
trading
> futures, as the historical data will no longer be accurate on a
points test
> basis, nor will the ratio reflect your rollover (as the data is 1
day
> lagged). What you should be doing is comparing the close prices of
the two
> different months on your roll day to determine the difference then
back
> adjust your continuous chart by adding/subtracting the difference.
>
> There's plenty of issues related to continuous contracts with
futures which
> depend exactly what you want the continuous contract chart to show
and the
> limitations of how to interpret it too.
>
> See:
> http://www.premiumdata.net/support/futurescontinuous.php
> for a lengthy article on continuous contracts.
>
> Best regards,
> Richard Dale.
> Norgate Investor Services
> - Premium quality Stock, Futures and Foreign Exchange Data for
> markets in Australia, Asia, Europe, UK & USA -
> <http://www.premiumdata.net/> www.premiumdata.net
>
>
>
> _____
>
> From: Dusant [mailto:dusant@x...]
> Sent: Monday, 5 April 2004 2:22 AM
> To: Metastockusers@xxxxxxxxxxxxxxx
> Subject: Re: [Metastockusers] Re: Bug in Manual Adjust
>
>
> I have been using the adjust feature, coz the distribution feature
does not
> always give correct results.
> You just need to use the ratio of the previous close to today's
close to
> arrive at the adjust factor.
> Dusant
> Chief Architect
> http://www.candlestrength.com/
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