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--- In equismetastock@xxxxxxxxxxxxxxx, pumrysh <no_reply@xxx> wrote:
>Hi Preston
I was searching other related topics as follow:
1. Outside Bars
2. Reversal day
3. Outside Reversal Day
4. Sanp-Back Reversal Day
Do you know where can I get them ? Could not search from the group
forum .These were discussed in th book from Robert Miners -- "
Dynamic Trading "
rgds
> Darsh,
>
> You're welcome. Its always nice to know when someone appreciates
what
> you have done for them.
>
> Before we give up on this indicator/system lets at least think
about
> a few things first. This indicator/system was written during a time
> when it was common for everyone to share information but not as
> openly as you might think. The word "proprietary" was typically
used
> to tell everyone that what you had been given was close but not
> exactly what you had been using or designed.
>
> Also, keep in mind that this indicator/system has been around for
> awhile now and few people are using it. That alone tells me that
> something is missing here. Exactly what though is what we need to
> find out.
>
> Is the indicator missing something that we need to make it more
> effective or is it part of a larger system that we are not being
told
> about?
>
> Lets first consider the indicator. What is it telling us? It is a
> picture of both price and volume action for a period of time. Our
> indicator is written to look for 3 days of action. So lets make a
> change to our indicator and see if that makes any difference. Lets
> change the last lines to:
>
> {Cole Signals}
> X:=Input("days to factor",1,14,3);
> Buy:=UpDCnt >=X AND UpVCnt >=X;
> Sell:=DnDCnt >=X AND DnVCnt >=X;
> Buy; -Sell; {end}
>
> Set at 1 and looking at a channeling stocks the indicator actually
is
> quite good at telling direction change.
>
> The author was using a 3 day count. On a momentum stock and using a
> setting of 3 or higher the picture is a little different. Think
about
> what we are seeing here. One of the biggest things that pops out to
> me is volume. Volume is a fickle lady. We never know whether we are
> seeing sell-off volume or buying volume. In todays market we never
> know whether the day traders or investors have moved in on a stock.
>
> Another thing that I noticed was the use of the terms "buy"
> and "sell". I really think these are mislabeled and probably should
> be termed signal days.
>
> One signal that I did notice as an "extremely hot" buying
opportunity
> was a sell signal with my lookback periods set at 3 and a close
that
> was up above the previous close.
>
> Finally, there is the issue of whether the indicator can stand
alone
> by itself. My answer would be that it cannot. In its use I would
> include a couple of moving averages and a momentum indicator.
>
> Think of the indicator as a road sign telling you of a change in
> conditions ahead. In this case its all about volume.
>
>
> Hope this helps,
>
>
> Preston
>
>
> --- In equismetastock@xxxxxxxxxxxxxxx, "Darshit" <darsh.goswami@>
> wrote:
> >
> > Thanx preston...
> > U are wonderful...
> >
> > Though this is something what i didnt think about ... gives false
> > entry n exit signals ,..
> >
> > But thanx alot for time u spend for me.
> >
> > Regards,..
> > Darsh
> >
> > --- In equismetastock@xxxxxxxxxxxxxxx, pumrysh <no_reply@> wrote:
> > >
> > > Darshit,
> > >
> > > Here's your code.
> > >
> > > enjoy,
> > >
> > > Preston
> > >
> > >
> > > In Metastock we are lucky that we already have built in
> indicators
> > > for rally and reaction days with and without volume. This makes
> our
> > > job a good bit easier than in Amibroker.
> > >
> > > We have already seen what a simple conversion from Amibroker to
> > > Metastock can be like. Instead of using this code:
> > >
> > > RY:= H > Ref(H, -1) AND L >= Ref(L, -1);{Rally Day}
> > > RX:= H <= Ref(H, -1) AND L < Ref(L, -1);{Reaction Day}
> > > IN:= H <= Ref(H, -1) AND L >= Ref(L, -1);{Inside Day}
> > > OUT:= H > Ref(H, -1) AND L < Ref(L, -1);{Outside Day}
> > >
> > > We are going to simplify things a bit and use this code similar
> to
> > > this instead:
> > >
> > > RY:=Rally();
> > > RX:=Reaction();
> > > IN:=Inside();
> > > OUT:=Outside();
> > >
> > > Our code requires that we count rally and reaction days so we
> won't
> > > be using either inside or outside days. We will also be
counting
> > > rally and reaction days with volume. There is a bit of
redundancy
> > > here but inorder to stay true to the code we will count both.
> > >
> > > {Cole Trading System}
> > > {Coded for Metastock}
> > > {by Preston Umrysh at}
> > > {The EquisMetastock Yahoo Group}
> > >
> > > {Cole Trading Definitions}
> > > RY:=Rally();{upday}
> > > RX:=Reaction();{downday}
> > > RYVol:=RallyWithVol();{up vol}
> > > RXVol:=ReactionWithVol();{down vol}
> > >
> > > {Cole Count Calculations}
> > > UpDay:=Cum(RY);
> > > DownDay:=Cum(RX);
> > > UpVol:=Cum(RYVol);
> > > DownVol:=Cum(RXVol);
> > >
> > > UpDCnt:=UpDay-ValueWhen(1,RX,UpDay);
> > > DnDCnt:=DownDay-ValueWhen(1,RY,DownDay);
> > > UpVCnt:=UpVol-ValueWhen(1,RXVol,UpVol);
> > > DnVCnt:=DownVol-ValueWhen(1,RYVol,DownVol);
> > >
> > > {Cole Signals}
> > > Buy:=UpDCnt >=3 AND UpVCnt >=3;
> > > Sell:=DnDCnt >=3 AND DnVCnt >=3;
> > > Buy; -Sell;
> > > {end}
> > >
> > >
> > >
> > >
> > > --- In equismetastock@xxxxxxxxxxxxxxx, "Darshit"
<darsh.goswami@>
> > > wrote:
> > > >
> > > > Dear Friends ,..
> > > >
> > > > I have got the AFL ( Amibroker Formulle file ) for this ,..
> > > >
> > > > If any senior can convert this code to Metastock format i
will
> be
> > > > thankful...
> > > >
> > > > ===========================================================
> > > > /* COLE.AFL v 1.00 17/10/2001
> > > > /* Cole Trading Method
> > > > /* Developed by Roger Cole
> > > > /* From Technical Analysis of Stocks and Commodities, V8:12
> (460-
> > > > 463), by Alan Friedman
> > > > /* Indicator developed and coded by Marek Chlopek, October
2001
> > > > /* Support from Tomasz Janeczko and Amibroker Mailing List
> members -
> > >
> > > > THANKS!!! */
> > > >
> > > > /*
> > > >
> > >
>
**********************************************************************
> > > > **** */
> > > > /* Cole Trading Method description
> > > > /* A up signal is formed when a stock makes three Rally Days
in
> a
> > > row
> > > > with larger volume on each day
> > > > /* A down signal is formed when a stock makes three Reaction
> Days
> > > in
> > > > a row with larger volume on each day
> > > > /* Inside and Outside Days are ignored */
> > > >
> > > > /*
> > > >
> > >
>
**********************************************************************
> > > > **** */
> > > > /* Cole Trading Method Indicator development description
> > > > /* Cole Trading Method measures two independent signals: day
> status
> > > > (Rally, Reaction, Inside, Outside) and volume,
> > > > /* therefore two independent sub-indicators have been
> implemented:
> > > > /* ColeDay - counts number of days in a row when Rally
> (positive)
> > > or
> > > > Reaction (negative)
> > > > /* ColeVolume - counts number of days with higher volume,
> always
> > > > positive */
> > > >
> > > > /*
> > > >
> > >
>
**********************************************************************
> > > > **** */
> > > > /* Cole's Trading Day Status definition */
> > > > RY = H > Ref(H, -1) AND L >= Ref(L, -1); // Rally Day
> > > > RX = H <= Ref(H, -1) AND L < Ref(L, -1); // Reaction Day
> > > > IN = H <= Ref(H, -1) AND L >= Ref(L, -1); // Inside Day
> > > > OUT = H > Ref(H, -1) AND L < Ref(L, -1); // Outside Day
> > > >
> > > > VolRY = Ref(V, - BarsSince(RY));
> > > > VolRX = Ref(V, - BarsSince(RX));
> > > > RYwithVol = RY AND V > IIf(RY, Ref(VolRY, -1), VolRY); //
> Rally
> > > > Day with Volume
> > > > RXwithVol = RX AND V > IIf(RX, Ref(VolRX, -1), VolRX); //
> > > Reaction
> > > > Day with Volume
> > > >
> > > > /*
> > > >
> > >
>
**********************************************************************
> > > > **** */
> > > > /* ColeDay - counts number of Rally Days in a row (positive)
or
> > > > Reaction Days in a row (negative)
> > > > /* When Rally ColeDay increases by 1 unless the first Rally
Day
> > > then
> > > > ColeDay = 1
> > > > /* When Reaction ColeDay decreases by 1 unless the first
> Reaction
> > > Day
> > > > then ColeDay = -1
> > > > /* When Inside Day or Outside Day then ColeDay stays
unchanged
> */
> > > > PeriodRY = BarsSince(NOT RY);
> > > > PeriodRX = BarsSince(NOT RX);
> > > > ColeDay = ValueWhen(RX OR RY, Sum(RY, PeriodRY) - Sum(RX,
> > > PeriodRX));
> > > >
> > > > /*
> > > >
> > >
>
**********************************************************************
> > > > **** */
> > > > /* ColeVolume - counts number of days with higher volume,
> always
> > > > positive
> > > > /* When volume higher than previous day volume ColeVolume
> increases
> > > > by 1
> > > > /* When volume lower previous day volume then ColeVolume = 1
> > > > /* When Inside Day or Outside Day then ColeVolume stays
> unchanged */
> > > > PeriodV = BarsSince(V < Ref(V, -1) AND (RX OR RY));
> > > > ColeVolume = ValueWhen(RX OR RY, Sum (RX+RY, PeriodV) +1);
> > > >
> > > > /*
> > > >
> > >
>
**********************************************************************
> > > > **** */
> > > > /* Trading Signals in Cole Trading Method
> > > > /* Buy Signal - when a stock makes three Rally Days in a row
> with
> > > > larger volume on each day
> > > > /* Sell Signal - when a stock makes three Reaction Days in a
> row
> > > with
> > > > larger volume on each day */
> > > > Buy = ColeDay >= 3 AND ColeVolume >= 3;
> > > > Sell = ColeDay <= -3 AND ColeVolume >= 3;
> > > > Cover = Buy;
> > > > Short = Sell;
> > > >
> > > > /*
> > > >
> > >
>
**********************************************************************
> > > > **** */
> > > > /* Graphic presentation in Amibroker */
> > > > MaxGraph = 2;
> > > > Graph0 = ColeDay;
> > > > Graph1 = ColeVolume;
> > > > Title = Name() + " - ColeDay = " + WriteVal(Graph0, 1.0) + ";
> > > > ColeVolume = " + WriteVal(Graph1, 1.0);
> > > >
> > > > /*
> > > >
> > >
>
**********************************************************************
> > > > **** */
> > > > /* Exploration in Amibroker */
> > > > Filter = 1;
> > > > NumColumns = 9;
> > > > Column0 = H; Column0Name = "H";
> Column0Format
> > > > = 1.2;
> > > > Column1 = L; Column1Name = "L";
> Column1Format
> > > > = 1.2;
> > > > Column2 = V; Column2Name = "V";
> Column2Format
> > > > = 1.0;
> > > > Column3 = RY; Column3Name = "RY";
> Column3Format
> > > > = 1.0;
> > > > Column4 = RX; Column4Name = "RX";
> Column4Format
> > > > = 1.0;
> > > > Column5 = IN; Column5Name = "IN";
> Column5Format
> > > > = 1.0;
> > > > Column6 = OUT; Column6Name = "OUT";
> > > Column6Format
> > > > = 1.0;
> > > > Column7 = ColeDay; Column7Name = "ColeDay";
> Column7Format
> > > > = 1.0;
> > > > Column8 = ColeVolume; Column8Name = "ColeVolume";
> Column8Format
> > > > = 1.0;
> > > >
> > > > /*
> > > >
> > >
>
**********************************************************************
> > > > **** */
> > > > /* END COLE Indicator Formula */
> > > >
> > > > ===========================================================
> > > >
> > > > Regards,..
> > > > Darsh
> > > >
> > >
> >
>
------------------------------------
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