Here’s a copy of an e-mail someone
else sent me regarding the same topic. I hope it is of help to you.
Regards,
Tim.
Hi Tim
After reading Stan Weinstein's book recently I
searched everywhere for some suitable MS code for Stage 1 but without success.
However after looking at many charts I then decided
that what I really needed was to identify securities at the beginning of Stage
2. I am still working on this and so far have come up with:
{First warning of a possible BUY
position i.e. it is not a BUY signal}
Cross(CLOSE,Mov(CLOSE,150,W))
{BUY Signal}
Buy:= Fml( "#BUY1") AND Fml(
"#BUY2") AND Fml( "#BUY3") ;
BUY:= BUY AND Alert(BUY=0,2);
BUY
Where ...
{BUY1} {WMA rising}
ROC(Mov(CLOSE,150,W),5,%)>0
{Buy2} {Good Comparative Relative Strength}
ASX:= Security("C:\METASTOCK\UK\FT
Indices\ASX",CLOSE); {This is the UK FTSE All Share Index}
ROC(CLOSE/ASX,60,%)>0
{#BUY3} {Above recent resistant level}
LookBack
:= 30;
Resistance :=ValueWhen(1,Cross(Mov(C, LookBack,S),C),HHV(HIGH, LookBack));
BUY3:= CLOSE>Resistance;
BUY3
In addition to this he says that a breakout must be
confirmed by higher than usual volume activity so something like this is also needed ...
Mov(VOLUME,5,S)>Ref(Mov(VOLUME,60,S),-5)
I hope this is of help.
Casimir
From:
equismetastock@xxxxxxxxxxxxxxx [mailto:equismetastock@xxxxxxxxxxxxxxx] On Behalf Of razepy
Sent: Sunday, 7 August 2005 22:37
To: equismetastock@xxxxxxxxxxxxxxx
Subject: [EquisMetaStock Group]
hello weinstein help
anyone can share an
exploration code that
detect Weinstein stage 1 breakout
thanks
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