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JD, this indicator below is about all I can help with:
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Three line break
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---8<-----------------------
{ ©Copyright 2001-2005 Jose Silva
For personal use only.
http://www.metastocktools.com }
{ User input }
lines:=Input("Lines:",1,21,3);
{ "... a new white block is added if the Close
exceeds the previous High" }
NuWhite:=C>Ref(H,-1);
{ "... a new black block is added if the Close
makes a new Low" }
NuBlack:=C<Ref(L,-1);
{ Consecutive White/Black blocks }
up:=Sum(NuWhite,lines)=lines;
dw:=Sum(NuBlack,lines)=lines;
{ High/Lows of consecutive White/Black blocks }
upLow:=ValueWhen(1,up,L);
dwHi:=ValueWhen(1,dw,H);
{ White/Black block signals }
finalWhite:=C<dwHi AND NuWhite;
finalBlack:=C>upLow AND NuBlack;
{ Plot in own window below OHLC chart }
finalWhite-finalBlack
---8<-----------------------
jose '-)
http://www.metastocktools.com
--- In equismetastock@xxxxxxxxxxxxxxx, "John Doe" <ms001122@xxxx>
wrote:
> Jose/Roy/anyone,
>
> When you have the time, could you please try to code the 3-line
> break so that the break points can be plotted as indicators on a bar
> chart? While the premise of the 3-line break chart is to identify a
> *change* in trend, personally I have found it to be more useful for
> *exiting* trades. Note that an exit (or entry) strategy is not
> synonymous with a change in trend!
>
> If you find the description of 3-line break in Metastock program
> help less than adequate, I may be able to scan the relevant pages
> (there's only a few of them) from the book Beyond Candlesticks by
> Steve Nison and post them as an attachment. As far as I know, this
> book is the best resource for this topic in the English speaking
> world.
>
> JD
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