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Martin and sai20_2000
The 20- 20 bar is the price bars on a chart that are
trending and the last bar is a big long bar with open close near the ends
of the bar.
It is call 20- 20 bar because it is easy to see when
scaning charts.
When you find a 20-20 bar it can mean that the trend is
about over or geting in high gear.
This is longer but there is not room to puit
all of it here.
I thought that if metastock can scan for the
20 -20 bars it would be a big help.
I am trying to learn to run my medastock
program that I have had for 10 years and only use the charts.
This is a biger job than I thought when I
starting to learn last mouth.
Thanks sai20_2000 I will let you know how it works when I get
it.
Barry
1) Pristine's Prior High
Entry Rule - Once a
stock is chosen as a buy (long) candidate, we often look to enter it as soon as
it demonstrates the ability to trade higher than it did throughout the entire
prior trading day. In other words, if the stock can trade 5 to 10 cents above
yesterday's high, we enter immediately. If a stock is able to trade higher than
yesterday's high, we can be certain that the bulls are driving its engine harder
than the bears. Tip: We jump on board trains moving in our desired direction,
not against our desired direction. Keep in mind that this basic entry method is
the main one of the three. Of course, one would simply reverse the above when
looking to go short.
2) Pristine's 30-minute
Entry Rule - There
are times when the prior day's high is simply too far away to consider buying
above it. I personally will not let a stock rally $2 before considering a buy.
This in my view is giving up too much of the potential upside potential. For
these scenarios, Pristine's 30-minute Buy Rule comes into play. If the prior
day's high is too far way for our taste ($1.50 or more is the general rule of
thumb), we will look to this alternative entry method which calls for buying
above the high established in the first 30-minutes of trading. At
10:00
EST, we
simply mark off the high of the day. If the stock trades above this high any
time between 10:01 and 3:59
EST, we buy,
with a stop below the current day's low. This entry method, while not our main
one, does at times help us get into plays closer to the bottom than the main
entry method above. But it should be remembered that it is largely anticipatory
in nature, which always brings added risk. The stock is only truly strong if it
has demonstrated the ability to take out the prior day's high. It is not
"officially" strong simply because it manages to take out the 30-minute high.
So, one must know when this alternative entry method is truly applicable. Use it
inappropriately, and you can turn good stock candidates into financial
nightmares. Reverse the above for shorts.
3)
Pristine 5-minute Entry Rule
- If the 30-minute rule calls for buying a stock above the high
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Message: 5
Date: Mon, 11 Apr 2005 02:27:23 -0000 From:
sai20_2000 Subject: Re: Pristine 20 -20 bar Herez the one I
have posted for u again , with minor
changes r:=H-L; r10:=Mov(r,10,S); orx:=(O-L)/r; crx:=(C-L)/r; rsi1:=Ref(RSI(14),-1); bullbarz:=Sum(orx<=.2
AND crx>=.8 AND RSI(14)<30 AND RSI(14)>rsi1 AND
r>r10,2)=2; bearbarz:=Sum(orx>=.8 AND crx<=.2 AND RSI(14)>75 AND
RSI(14)<rsi1 AND
r>r10,2)=2; If(bullbarz,1,If(bearbarz,-1,0)) ---
In equismetastock@xxxxxxxxxxxxxxx,
"Martin Blain" < martin@x...>
wrote: > Barry > Can you remind what the 20 20 thing is all
about again. > Martin Blain > Burlington Ontario >
----- Original Message ----- > From: Barry Vincent
> To: equismetastock@xxxxxxxxxxxxxxx
> Sent: Saturday, April 09, 2005 9:56 AM >
Subject: [EquisMetaStock Group] Pristine 20 -20 bar > > >
> > > Hi Group > I am looking
for the pristine 20-20 Bar, Metastock formulas. > I seen
them some place but I can't remember where it was. > I have
look all the places that I know to look. > Please help if any
one knows where it is. > Thanks > Barry
Vincent
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