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Check with Elder's group
http://finance.groups.yahoo.com/group/CIMTR/
--- In equismetastock@xxxxxxxxxxxxxxx, "k_krishna79"
<k_krishna79@xxx> wrote:
>
> Hi,
>
> Does anybody know how to put this code in metastock exploration
>
> Please help
>
> Regards,
> Krishna
> k_krishna79@xxx
>
>
>
> --- In equismetastock@xxxxxxxxxxxxxxx, Chandan Seal
> <chandan.seal@> wrote:
> >
> > Hi Everybody,
> >
> > This is Dan and I am looking for an exploration formula for ELDER
> TRIPLE SCREEN SCAN. I have an Exploration formula for Amibroker and
I
> would be really grateful if somebody can convert it to Metastock
> language. The formula is given below.
> >
> > Thanks in advance.
> >
> > // Elder Triple Screen Trading System.
> > // Coded by Dennis Skoblar 7/05/2005.
> > // Derrived from "Trading For A Living" and "Come Into My Trading
> Room" by Alexander Elder.
> >
> > // This scan finds candidates by the Weekly MACD Historgam slope,
> and the Daily 2 Period Force Index dipping above or below it's Zero
> Line. Plot a Weekly 26 Period EMA to
> > // help confirm the weekly direction. It should be rising along
> with an uptick on the Weekly MACD Histogram to go long. However,
> Elder writes that divergences in the MACD
> > // Histogram override the EMA. The Daily 2 Period Force Index
will
> be below it's Zero Line. Look for the stock to pullback to around
> it's Daily 13 Period EMA. Also use the
> > // Daily 22 Period EMA to confirm the direction of the daily
trend.
> Do the opposite for shorts. Use the Long/Short EMA Weekly Direction
> Tabs as filters to cull through the
> > // scan to only display the Weekly EMA going in the intended
> trading direction. Use the Long/Short Elder Ray Tabs (BullPower AND
> BearPower) to fine tune the entry signals.
> > // This tab is best used when in agreement with the Long/Short
EMA
> Weekly Direction Tabs. A 50 Period EMA > 100000 is used to Filter
> Volume. A minimum of a 5 point run in
> > // one Month is used as a Filter for a stock's range. This scan
is
> best used as an Exploration.
> >
> > TimeFrameSet( inWeekly );
> > WeeklyMACD = MACD(12,26) - Signal(12,26,9);
> > WeekHistRising = Ref(WeeklyMACD, -1) < Ref(WeeklyMACD, 0);
> > WeekHistFalling = Ref(WeeklyMACD, -1) > Ref(WeeklyMACD, 0);
> > FIWeekly = EMA(V*(C-Ref(C,-1)),13);
> > WeeklyForceIndexLong = FIWeekly > 0;
> > WeeklyForceIndexShort = FIWeekly < 0;
> > TimeFrameRestore();
> >
> > // Weekly criteria
> > MACDLongW = WeekHistRising;
> > MACDShortW= WeekHistFalling;
> > FILongW = WeeklyForceIndexLong;
> > FIShortW = WeeklyForceIndexShort;
> >
> > // Daily criteria
> > FIDaily = EMA(V*(C-Ref(C,-1)),2);
> > FILongD = FIDaily < 0;
> > FIShortD = FIDaily > 0;
> > VFilter = EMA(V,50) > 100000;
> > TenTwentyFilter = HHV(H,20)-LLV(L,20); // How much price has gone
> in one month (>=10 points preferable)
> > FiftyDayHVFilter = round(StDev(log(C/Ref(C,-1)),50)*100*sqrt
> (256)); // One year volotility (>=40 preferable)
> > Bullpower= High - EMA(Close,13);
> > Bearpower= Low - EMA(Close,13);
> >
> > // Scan criteria
> > ElderLong = MACDLongW AND FILongD AND FILongW;
> > ElderShort = MACDShortW AND FIShortD AND FIShortW;
> >
> > // Columns for exploration
> >
> > NumColumns = 12;
> >
> > Column0 = FullName();
> > Column0Name = "Ticker name";
> >
> > Column1 = " ";
> > Column1Name =" ";
> >
> > Column2 = ElderLong;
> > Column2Name = "Long";
> >
> > Column3 = ElderLong AND EMA(C,130) > Ref(EMA(C,130),-5);
> > Column3Name = "Long EMA Weekly Direction";
> >
> > Column4 = Column3 AND (bearpower < 0 AND bullpower > 0);
> > Column4Name = "Long Elder Ray Filter";
> >
> > Column5 = " ";
> > Column5Name =" ";
> >
> > Column6 = ElderShort;
> > Column6Name = "Short";
> >
> > Column7 = ElderShort AND EMA(C,130) < Ref(EMA(C,130),-5);
> > Column7Name = "Short EMA Weekly Direction";
> >
> > Column8 = Column7 AND (bearpower < 0 AND bullpower > 0);
> > Column8Name = "Short Elder Ray Filter";
> >
> > Column9 = " ";
> > Column9Name =" ";
> >
> > Column10 = TenTwentyFilter;
> > Column10Name = "One Month Point Range";
> >
> > Column11 = FiftyDayHVFilter;
> > Column11Name = "Historical Volotility 50 Day";
> >
> > AddTextColumn( IndustryID(1), "Industry" );
> >
> > AddTextColumn( MarketID(1), "Market" );
> >
> > // Filters
> > Filter = VFilter AND (ElderLong OR ElderShort);
> > Buy = ElderLong;
> > Sell = 0;
> > Short = ElderShort;
> > Cover = 0;
> >
> >
> >
> > ---------------------------------
> > Got a little couch potato?
> > Check out fun summer activities for kids.
> >
> > [Non-text portions of this message have been removed]
> >
>
------------------------------------
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