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Dear Preston,
Thanks for the Help but what i really need is to find out the lowest trading
range in last four trading sessions i.e. Three sessions and the fourth day.
What i belive is that after the lowest range in 3+1 day stocks tend to give
a explosive ,move upside or downside and hence i need to find a explorer for
such kind of stocks.
Sunil Gupta
On 5/27/07, pumrysh <no_reply@xxxxxxxxxxxxxxx> wrote:
>
> Sunil,
>
> Before we get into an exploration you need to determine if the high-
> low is really what you want.
>
> The other day we got into a discussion about normalized indicators.
> I introduced a normalizing/indexing formula which is:
>
> {Normalized Indicator}
> Ind:= {your indicator here};
> Npds:=Input("periods to normalize",
> 1,500,48);
> Norm:=(Ind-LLV(Ind,Npds))
> /(HHV(Ind,Npds)
> -LLV(Ind,Npds)
> +.0000001)*100;
> Norm{end}
>
> If I use IND:= high-low; for the indicator what I get is a chart
> that really has little value. During an uptrend for instance the
> range between the high and low will decrease. Thus if I were looking
> for signals I wouldn't get them.
>
> If on the other hand I changed the formula and used IND:= close;
> what I will get is an indicator that is much truer to the real trend.
>
> Notice that the value of NORM is determined by indexing the highest
> high values and the lowest low values of the indicator over a period
> of time. That value can easily be changed from 48 to either 3 or 4.
>
> In an exploration you must lock the values that are normally inputed
> in an indicator. Thus you would need to change the exploration
> formula to:
>
> {Normalized Indicator for exploration}
> Ind:= close;
> Npds:= 4;
> Norm:=(Ind-LLV(Ind,Npds))
> /(HHV(Ind,Npds)-
> LLV(Ind,Npds)+.0000001)*100;
> Norm
>
> I think you will find that 4 is a bit too sensitive and a better
> alternative will be something greater than 5 which is a weeks worth
> of trading. Think of this value as a lookback period for a moving
> average. Would you really want to use something less than 5 which
> would result in a lot of whipsaws.
>
> Now that you are indexed or normalized it is much easier to
> successfully trade simply by looking for values greater than or less
> than 50 or whatever value you determine as your entry/exit points.
>
> Once you have determined those values you could simply put the
> indicator in column A and filter with column B being >50 and column
> C as <50 .
>
> Hope this helps,
>
> Preston
>
> --- In equismetastock@xxxxxxxxxxxxxxx <equismetastock%40yahoogroups.com>,
> "SUNIL gupta"
> <sunilgupta72@xxx> wrote:
> >
> > Dear Friends,
> >
> > I am new to metastock. Please can anyone help me with composing
> formula for
> > explorer for finding out which shares have been in lowest trading
> range of
> > last four days. I mean that day X's Trading range (high-low)
> should be
> > lowest of the last three trading seesions.
> > --
> > Sunil Gupta
> >
> >
> > [Non-text portions of this message have been removed]
> >
>
>
>
--
Sunil Gupta
[Non-text portions of this message have been removed]
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