|
PureBytes Links
Trading Reference Links
|
jony,
You need to spend some time rereading Jose's last post and visiting
his website.
You should note the following statement from Jose:
"The main reason in posting the indicator is for members to learn
and experiment with it, not trade its basic signals."
As far as putting money on the table, I believe his website explains
how much and with what system.
The Countback Oscillator has some interesting concepts in it. You
are correct that other indicators offer similar signals...that's not
the point though. The point is how the final signals were derived. I
personally enjoyed the "Automatic overBought/Sold levels" and will
probably incorporate those in other indicators.
The point of Jose's post was not that the countback oscillator
should be used as a trading system nor was there anything "cheap
skate" about it. If that was what you got out of the post then I
believe your few months of study have been a waste of time.
As an aside note, I agree with you that everyone should use due
diligence in their trading. It takes a wise person to manage their
money in a way that will allow it to grow larger.
Preston
--- In equismetastock@xxxxxxxxxxxxxxx, jony gila
<hypersteroid2000@xxx> wrote:
>
> 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@xxx>
> 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.metastocktools.com
>
>
>
>
> Send instant messages to your online friends
http://au.messenger.yahoo.com
>
> [Non-text portions of this message have been removed]
>
Yahoo! Groups Links
<*> To visit your group on the web, go to:
http://groups.yahoo.com/group/equismetastock/
<*> Your email settings:
Individual Email | Traditional
<*> To change settings online go to:
http://groups.yahoo.com/group/equismetastock/join
(Yahoo! ID required)
<*> To change settings via email:
mailto:equismetastock-digest@xxxxxxxxxxxxxxx
mailto:equismetastock-fullfeatured@xxxxxxxxxxxxxxx
<*> To unsubscribe from this group, send an email to:
equismetastock-unsubscribe@xxxxxxxxxxxxxxx
<*> Your use of Yahoo! Groups is subject to:
http://docs.yahoo.com/info/terms/
|