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Hello again,
I have been working with this formula for a few weeks now and it
seems to throw up too many results when the exploration is run (only
70-75% of securities are rejected). Would you be able to test the
logic below and see if it is all right? The only anomaly I can find
is that in line two of the code Day One should read Day Two, but I
don't think that this would necessarily affect the formula's
performance.
Perhaps once could insert an extra filter in the code (highlighted IN
BOLD) when qualifying securities using this exploration to tighten up
the results - however I am unsure as to how to do this, i.e,
Day 2: The market retests the Day 1 low not less than eight trading
days later. A retest occurs when either:
a) Day 2 makes a low that is lower than
or equal to the Day 1 low; or
b) the Day 2 low is below the Day 1 close (AND ALSO BELOW THE LOW OF
THE DAY AFTER DAY 1).
Warm regards,
Tony.
--- In equismetastock@xxxxxxxxxxxxxxx, "bellamy_29m"
<bellamy_29m@xxxx> wrote:
>
> Tony,
>
> I have only had a VERY quick grab at this, and havent tested it; I
am
> not making any promises, but see if this works like you want.
Maybe
> it will give you an insight into how to rearrange this for
yourself...
>
> Here goes, untested code:
>
> DayOne:=L=LLV(L,10);
> DayOne:=If(BarsSince(DayOne=1)>8,L=LLV(L,10) OR L<=ValueWhen
> (1,DayOne=1,L) OR L<ValueWhen(1,DayOne=1,C),0);
>
> DayThree:=C>ValueWhen(1,DayOne=1,L);
> DayThree:=DayThree AND BarsSince(DayOne=1)>Ref(BarsSince(DayThree),-
> 1);
>
> N:=If(PREV=0,DayThree,If(DayOne,0,PREV));
>
> L>ValueWhen(1,N AND Alert(N=0,2)=1,H);
>
>
>
> Maybe someone else with some more time might lend a hand?
>
> Hope this helps (anyway!)
>
> wabbit :D
>
> --- In equismetastock@xxxxxxxxxxxxxxx, "bandwidthuser"
> <bandwidthuser@xxxx> wrote:
> >
> >
> > Hello,
> >
> > I would appreciate help in coding an exploration which uses the
> multi-
> > day setup shown below to signal reversal trades off support and
> > resistance levels.
> >
> > The rules for going Long would be;
> >
> > Day 1: The market makes a 10-day low.
> >
> > Day 2: The market retests the Day 1
> > low not less than eight trading days
> > later. A retest occurs when either: a)
> > Day 2 makes a low that is lower than
> > or equal to the Day 1 low; or b) the
> > Day 2 low is below the Day 1 close.
> >
> > Day 3: The market subsequently closes
> > above the Day 1 low.
> >
> > Day 4: Go long when the market moves
> > above the Day 3 high.
> >
> > The rules are reversed for short trades.
> >
> >
> > Warm Regards,
> >
> > Tony.
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