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--- In equismetastock@xxxxxxxxxxxxxxx, "Jose Silva"
<josesilva22@xxx> wrote:
>
> The countback nature?
> To count events backwards.
>
> What does it do?
> It counts events backwards.
>
> The general theory?
> Count events backwards.
>
> I look forward to the countforward theory.
>
>
> jose '-)
> http://www.metastocktools.com
>
>
>
> --- In equismetastock@xxxxxxxxxxxxxxx,
> "formulaprimer" <formulaprimer@> wrote:
> >
> > What is the nature of the countback theory. what does it do
> > exactly.
> > what is the general theory for it?
> > thanks.
> >
> >
> >
> > --- In equismetastock@xxxxxxxxxxxxxxx, "Jose Silva"
<josesilva22@>
> > wrote:
> >
> > I've been playing around with the Countback-type Oscillator
below,
> > and some signals based on it look promising on some charts.
> >
> > Indicators/Oscillators of this type don't generally suffer from
the
> > lagging characteristics of mainstream smoothed indicators (e.g.
> > Stoch, MACD, MAs, etc), and they lend themselves to promising
> > signals.
> >
> > Any suggestion for a suitable name for this oscillator is
welcome.
> >
> >
> > MetaStock -> Tools -> Indicator Builder -> New
> > -> copy & paste complete formula between "---8<---" lines.
> >
> > =========================
> > Countback-type Oscillator
> > =========================
> > ---8<-------------------------------------
> >
> > { Countback-type oscillator & signals v2.0
> > Incorporating automatic overBought/Sold levels
> > Trade at own risk.
> >
> > ©Copyright 2005~2006 Jose Silva.
> > The grant of this license is for personal use
> > only - no resale or repackaging allowed.
> > http://www.metastocktools.com }
> >
> > { User inputs }
> > pds:=Input("Oscillator countback periods",
> > 1,252,21);
> > plot:=Input("plot: [1]Oscillator, [2]Signals",
> > 1,2,1);
> > type:=Input("signals: [1]OBought/Sold, [2]Higher Lo, Lower Hi",
> > 1,2,1);
> >
> > { Countback oscillator }
> > C1:=Ref(C,-1);
> > x:=Sum((C>C1)*(C-C1),pds)
> > /Max(Sum(Abs(C-C1),pds),.000001)*100;
> >
> > { Automatic overBought/Sold levels }
> > avg:=Cum(x)/Cum(IsDefined(x));
> > pk:=Ref(x,-1)=HHV(x,3) AND Ref(x,-1)>avg;
> > pkVal1:=ValueWhen(1,pk,Ref(x,-1));
> > pkVal2:=ValueWhen(2,pk,Ref(x,-1));
> > pkValAvg:=Cum(pkVal1)/Cum(IsDefined(pkVal1));
> >
> > tr:=Ref(x,-1)=LLV(x,3) AND Ref(x,-1)<avg;
> > trVal1:=ValueWhen(1,tr,Ref(x,-1));
> > trVal2:=ValueWhen(2,tr,Ref(x,-1));
> > trValAvg:=Cum(trVal1)/Cum(IsDefined(trVal1));
> >
> > { OverBought/Sold signals }
> > entry:=x<trValAvg;
> > exit:=x>pkValAvg;
> >
> > { Higher troughs / lower peaks signals }
> > entry:=If(type=1,entry,
> > trVal1>trVal2 AND x>pkVal1);
> > exit:=If(type=1,exit,
> > pkVal1<pkVal2 AND x<trVal1);
> >
> > { Clean signals }
> > init:=Cum(IsDefined(entry+exit))=1;
> > bin:=ValueWhen(1,entry-exit<>0 OR init,entry);
> > long:=bin*(Alert(bin=0,2)
> > OR entry*Cum(entry)=1);
> > short:=(bin=0)*(Alert(bin,2)
> > OR exit*Cum(exit)=1);
> >
> > { Plot in own window }
> > If(plot=1,pkValAvg,0); {Grey}
> > If(plot=1,avg,0); {Grey}
> > If(plot=1,trValAvg,0); {Grey}
> > If(plot=1,x,long-short)
> >
> > ---8<-------------------------------------
> >
> >
> > jose '-)
> > http://www.metastocktools.com
>
Geeeezeees. the coding looks fine but for me not more than a holy
junk bucket.
nah, to see how this indicator help your trading system just traded
lively. IMO this indicator looks like any other average indicator.
Just trade it in CFD market. I guarantee your account must be
bleeding red.
CUT AND PASTE THE FOLLOWING WISE WORDS--------------------> EARLY
BIRD MIGHT GET THE WORM BUT ALWAYS THE SECOND MOUSE THAT GET THE
BEST CHEESE
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