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I recently stumbled on an improvement to the basic trade binary code,
which allows the use of ValueWhen() instead of BarsSince() MetaStock
functions.
Avoiding the BarsSince() function means that the indicator code now
does not need to wait for the first entry signal before plotting an
exit signal. This is best illustrated by plotting and comparing the
two trade signal indicators below.
MetaStock -> Tools -> Indicator Builder -> New ->
Copy and paste complete formulae between "---8<---" lines.
====================
System trade signals
====================
---8<--------------------------
{ System trade signals - note: simultaneous
Long/Short signals cancel each other }
{ http://www.metastocktools.com }
{ Signals reference example }
entry:=C>Mov(C,21,E);
exit:=C<Mov(C,10,E);
{ User inputs }
plot:=Input("Signals: [1]Clean, [2]All, [3]Trade binary",1,3,1);
delay:=Input("Entry and Exit delay",-1,5,0);
{ Clean signals }
x:=ValueWhen(1,entry-exit<>0,entry-exit);
long:=x=1
AND (Alert(x<>1,2) OR Cum(IsDefined(x))=1);
short:=x=-1
AND (Alert(x<>-1,2) OR Cum(IsDefined(x))=1);
signals:=long-short;
binary:=ValueWhen(1,signals<>0,signals);
{ Plot in own window }
Ref(If(plot=1,signals,
If(plot=2,entry-exit,binary)),-delay)
---8<--------------------------
===============================
System trade signals - original
===============================
---8<--------------------------
{ Original trade signals code }
{ BarsSince() function prevents first exit plot}
{ With thanks to Roy Larsen at
http://www.metastocktips.co.nz }
{ Signals reference example }
entry:=C>Mov(C,21,E);
exit:=C<Mov(C,10,E);
{ User inputs }
plot:=Input("Signals: [1]Clean, [2]All, [3]Trade binary",1,3,1);
delay:=Input("Entry and Exit delay",-1,5,0);
{ Clean signals }
Init:=Cum(entry+exit>-1)=1;
entryInit:=Cum(entry)=1;
flag:=BarsSince(Init OR entry)
<BarsSince(Init OR exit)+entryInit;
signals:=(entryInit AND Alert(entryInit=0,2)
OR flag AND Alert(flag=0,2))
-(flag=0 AND Alert(flag,2));
binary:=ValueWhen(1,signals<>0,signals);
{ Plot in own window }
Ref(If(plot=1,signals,
If(plot=2,entry-exit,binary)),-delay)
---8<--------------------------
jose '-)
http://www.metastocktools.com
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