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Preston
I am not sure whether my first reply made it to the group. I just want
to be sure.
Thanks for the wonderful explanation. It was really helpful. Some
observations..
I agree with your point about line# 6 and its subsequent use in Line 7
& 8.
What is the purpose of using BarsSince function in line 7&8?
Can you please provide the link to the code you have mentioned in the
email?
Also, what is the best way to test/debug code snippets like this (The
only way I can think of is to create a temporary indicator and see the
output in MS by adding line by line.. rather crude)
Appreciate your help very much..
regards
N
--- In equismetastock@xxxxxxxxxxxxxxx, pumrysh <no_reply@xxx> wrote:
>
> N,
>
> Please realize that I did not write the code. It was written by
> Wabbit aka Scott Bunny on the Equis Forum. I believe he is a member
> here as well and maybe he will pipe in on the discussion.
>
> I have listed the indicator below and have included referencing line
> numbers to make an explanation easier.
>
> {52 week HIGH & LOW}
> {From Wabbit at Equis Forum}
> {1} lastDay:=LastValue(DayOfMonth());
> {2} lastMonth:=LastValue(Month());
> {3} lastYear:=LastValue(Year())-1;
> {4} x:=Year()>lastYear OR (Year()=lastYear AND
> (Month()>lastMonth OR Month()=lastMonth AND
> DayOfMonth()>=lastDay));
> {5} y:=x AND Alert(x=0,2);
> {6} i:=Cum(1)=1;
> {7} hi:=LastValue((HighestSince(1,y OR i,H)))*(BarsSince(x>0)>= -1);
> {8} lo:=LastValue((LowestSince(1,y OR i,L)))*(BarsSince(x>0)>= -1);
>
> {plot}
> hi;lo;
> {end}
>
>
>
> Lines 1,2,3 obtains the value of the present date by day, month and
> year.
>
> Line 4 establishes the 52 week window of time.
>
> Line 5 establishes the start of the calculation period by using the
> beginning of calculation period and the alert function together to
> give us a value of one on the first day of the 52 week window.
>
> Line 6 resets the bar count. I really don't feel this is necessary
> nor is it (OR i) necessary in the highestsince / lowestsince argument
> in lines 7 and 8.
>
> Line 7 and 8 calculates the highest high and lowest low for the 52
> week period and holds or plots it true for the 52 weeks.
>
>
> One of the problems that I think you are going to run into using this
> code in an exploration is the fact that new lows or highs during the
> 52 week period will reset the indicator. Remember the 52 week period
> resets every day.
>
> I also provided other code in my original code and that might be a
> better option for you.
>
> Thanks for the question. Hope you will find my reply helpful.
>
> Preston
>
>
>
>
> --- In equismetastock@xxxxxxxxxxxxxxx, "nand_rathi" <nand_rathi@>
> wrote:
> >
> > This post is for Preston in particular.
> >
> > Hello Preston
> >
> > Around a week back you provided MS code to determine 52 week Hi/LO
> for
> > a stock. I am a newbie in Metastock arena and trying to understand
> the
> > power of this tool.
> >
> > I have the following questions regarding the code provided by you:
> >
> > Would you be kind to explain the code line by line so that for a
> > newbie it will make sense in how to interpret such code snippet?
> >
> > I created a formula with the supplied code and it worked great in
> > plotting the Hi/Lo value. How do I use this code in explorer? What I
> > want to do is to display the list of stock which are say within 2.5%
> > range oh Hi or Lo?
> >
> > I am sorry if this type of question has already been answered in the
> > group. I am sure this explanation will be of great help to
> newbies..
> >
> > Regards
> >
> > N
> >
>
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