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Hi
i am new to this group. i need help on the programming of the following statement and convert into metastock code format. pls help
The stock has to be in a continued downtrend
Today?s Low price (TDL) has to be the LOWEST price for the stock over the last few days.
(If it is the lowest for last few weeks, we are likely to have a strong major trend reversal signal- a strong form of U-TURN. However if Previous Day?s Low price is the lowest for only last three to ten days, we have a signal that is more likely to mark the beginning of a Correction or the end of a Reaction ? a weak form of U-TURN).
Today?s Open price (TDO) has to be LOWER than Previous Day?s Low price (PDL).
TDO < PDL
The more the difference between PDL and TDO, the more powerful the signal is going to be.
Today?s Close price (TDC) has to be HIGHER than Previous Day?s Close price (PDC).
TDC > PDC
Today?s Close price (TDC) has to be HIGHER than Previous Day?s Open price (PDO).
TDC > PDO
Today?s Volume has to be decisively HIGHER than the normal volume over the last few days or Previous Day?s volume. If the above conditions were fulfilled, you would most likely see a decisive jump in stock volume today. If you don?t see a jump in the volume today, the signal loses some of its strength.
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