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I've posted this poll on another usergroup, but it is currently
attracting little interest there. The question deals with our
perception of the market vs its reality.
I can't post a Poll here, but it would be interesting to get some
informal results of members' opinions.
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Strategy Y:
Buy Long when Close is within 4% of today's High.
(Buy Long at next day's Open when the Close is near the top of
today's High-Low range).
Sell Long when Close is within 4% of today's Low
(Sell Long at next day's Open when the Close is near the bottom of
today's High-Low range).
Strategy X (Y reversed):
Buy Long when Close is within 4% of today's Low
(Buy Long at next day's Open when the Close is near the bottom of
today's High-Low range).
Sell Long when Close is within 4% of today's High.
(Sell Long at next day's Open when the Close is near the top of
today's High-Low range).
Question:
Which trading strategy is likely to be more profitable, Y or X?
1) Strategy Y
2) Strategy X
3) no difference - both are identical
4) I don't know
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To make it easier to visualize the simple condition signals, below is
the MS indicator code:
==============
Poll indicator
==============
----8<-------------------------------------
{©Copyright 2006 Jose Silva.
For personal use only - trade at own risk.
http://metastocktools.com }
{ User inputs }
pr1:=Input("Entry: min Close's % dist [0~100%] from bar's
Low",0,100,4)/100;
pr2:=Input("Exit: min Close's % dist [0~100%] from bar's
High",0,100,4)/100;
rev:=Input("Reverse Close position condition? [0]No,
[1]Yes",0,1,0) ;
plot:=Input("Signals: [1]Clean, [2]All, [3]Trade binary",1,3,1);
delay:=Input("Entry and Exit delay",0,5,0);
{ Close x% of High-Low range signals }
rangePos:=(C-L)/Max(H-L,.00001);
entry1:=rangePos<=pr1;
exit1:=rangePos>=(1-pr2);
{ Reverse signals? }
entry:=If(rev,exit1,entry1);
exit:=If(rev,entry1,exit1);
{ 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);
signals:=long-short;
{ Plot in own window }
0;
Ref(If(plot=2,entry,0),-delay);
Ref(If(plot=1,signals,
If(plot=2,-exit,bin)),-delay)
----8<-------------------------------------
jose '-)
http://metastocktools.com
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