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I have to admit a few months ago I was a dumb. Not now!!!!!!!!!!!!!!!!!!. Things ends when some one put an effort on his work
I presume your indicator can be used as a trigger signal which in other words one wish to design a trading system by this indicator. the logic behind this conversation is "if a one thing is soo good often a person keeps it as his proprietary, however since he is not too sure whether this indicator is usefull he try to throw it to other let other tested. once the crappy report is generated, he will imediatelly rubbing his hands to collect what ever the rubbish result. " If you are so confident on this indicator why dont you use the trade sim to test it you are the mechanical guy right???????????????. Also talking on a fully mechanical system Its been a while I didn't chase some wild goose mainly on the chart pattern. one may say this is the lowest low or other might say this is a head and shoulder. thus your trading signal become very confusing and cause you headache
Talking on designning an system, I agree if someone has to spend a quality of time in his research and some heve to use a complex arguments as well as a customed indicator. As your kitchen has to steam up 3 times, there must be a limited time spend that has to enacted.
Sounds you are on top of every one. Do you have any open position to trade ?????? I am not to sure as some of your systems are like most of any cost averaging system. If you see trade station you may find that the system's name are the same as your average system is this just a coincidence????????
I strongly suggest to those who see this conversation not to easily fall into a cheap skate offer. If not sure DONT TRADE!!!!!!!!!!!!!!
----- Original Message ----
From: Jose Silva <josesilva22@xxxxxxxxx>
To: equismetastock@xxxxxxxxxxxxxxx
Sent: Monday, 6 November, 2006 1:36:38 PM
Subject: [EquisMetaStock Group] Re: Countback-type Oscillator and signals
Your inexperience shows in your post, Hypersteroid.
Anyone that bases a complete trading strategy on any one single basic
indicator based on price alone, deserves to learn a hard lesson and
lose some trading capital in the process.
The main reason in posting the indicator is for members to learn and
experiment with it, not trade its basic signals.
Eyeball a few charts with the oscillator, and you may yet find some
useful patterns in conjunction with some basic market fundamentals.
Experiment with the indicator's code, use some of it as a basis for
other indicators, and learn some non-documented MetaStock programming
techniques in the process.
In other words, the posted indicator is only the start of one of many
learning journeys, and not a Holy Grail destination.
As for the second mouse, only crumbs left for him in this rat race
I'm afraid. ;)
jose '-)
http://www.metastoc ktools.com
--- In equismetastock@ yahoogroups. com,
"hypersteroid2000" <hypersteroid2000@ ...> wrote:
>
> 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
>
> ):
>
>
>
> --- In equismetastock@ yahoogroups. com, "Jose Silva"
> <josesilva22@ > 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.metastoc ktools.com
>
>
>
> --- In equismetastock@ yahoogroups. com,
> "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@ yahoogroups. com, "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/Oscillat ors 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.metastoc ktools.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.metastoc ktools.com
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