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Hi Kevin
>>What is the most efficient way of setting a flag in Metastock? For
>>example, say I want to enter a trade on a signal but only, say, if there
>>has been an RSI overbought signal during the past four hours:
>>
>>flag:=If(Cross(RSI(14),70),1,0)
>>
>>initially sets the flag but it will get reset next bar. How can I keep the
>>flag set at 1 for the next four hours?
There are a number of ways you can do this. The subject will feature in my newsletter in a couple of
months, but for now here's some latch (flag) code that should do the trick. You've already got the
signal to set the latch and all you need is a signal to reset it. For my example I'll use the
beginning bar of the next day.
FlagSet:=Cross(RSI(14),70);
FlagReset:=Hour()<Ref(Hour(),-1);
Flag:=BarsSince(FlagSet)<BarsSince(FlagReset);
Flag;
If you want to make sure the very first signal is picked up, perhaps for back-testing, then the code
needs an initialisation (Init) variable added.
FlagSet:=Cross(RSI(14),70);
FlagReset:=Hour()<Ref(Hour(),-1);
Init:=Cum(FlagSet+FlagReset>-1)=1;
Flag:=BarsSince(Init+FlagSet)<BarsSince(Init+FlagReset);
Flag;
The same thing can be done with a little less code using PREV, but until you have a reset signal to
complement the set signal no flag or latch code can work.
Kind regards
Roy Larsen
www.metastocktips.co.nz
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