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Here's another variation:
This system allows testing of all variables. Testing should be done
on long and short positions seperately by placing part of the code
in brackets. This is a variant of the original Conners IDNR4. Instead
of buying and selling the high and low of the contraction day, it looks
for confirmation of a breakout when price exceeds a % of a short
term average true range. Allows for testing of holding time of n days.
{System: Test IDNR4 (Inside day Narrow range Pattern # 1 (L.C.)
additional AvgTrueRange concept (W.D.) added 1998 }
Input: CLen(4),ELen(1),Avr(2)Rat(.38),ExL(0),ExS(0);
IF Range = Lowest(Range,CLen)
and H < H[ELen] and L > L[ELen] then Begin
Buy High + (AvgTrueRange(Avr)[1]*Rat) stop;
Sell Low - (AvgTrueRange(Avr)[1]*Rat) stop;
End;
If MarketPosition = 1 then Begin
If BarsSinceEntry = ExL then Exitlong at Market;
End;
If MarketPosition = -1 then Begin
If BarsSinceEntry = ExS then ExitShort at market;
End;
Walt Downs
CIS Trading Cos.
Mark Brown wrote:
>
> Input: NR(4);
> IF H-L<LOWEST(H-L,NR-1)[1] Then Begin
> Plot1(High,"High");
> Plot2(Low,"Low");
> IF CheckAlert Then Alert = TRUE;
> End;
>
> ===================================
>
> for those that dont have it! this is a paint bar study ..
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