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Hello Roy,
That's great - appreciate your help.
Looking forward to your next newsletter.
Regards,
Kevin
At 08:36 01/10/2004 +1200, you wrote:
>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
>Free formulas and MS links
>
>
>
>
>
>
>
>Yahoo! Groups Links
>
>
>
>
>
>
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