Re: Phil Lane's system

["Gaius Marius" <magnus@xxxxxxxxxxx>]

Oops!! I forgot to tied in the Average True Range (Volatility) to the
system. The system posted earlier was then nothing more than a pattern
recognition system with a chandelier exit. As simple as it seems, it was
very effective.

Anyways, here is Phil's system.

{System: Phil Lane's System}
Inputs: ATRLen(10),Lvl(10),Pct(2.5);
Vars: Atr(0),Eb(0),LStop(0),Mp(0);

Atr=Average(TrueRange,ATRLen);
Mp=MarketPosition;
If Mp<>1 and c[1]<o[1] and c[2]<o[2] and c[3]<o[3] and H<Highest(H[1],3) and
O>L[1] and Atr>Lvl    then  begin
  buy on close;
  Eb=currentbar;
  LStop=0;
 end;
If MP=1 and currentbar<>eb then begin
 LStop=Maxlist(LStop,MaxTradeHigh-EntryPrice*Pct/100);
 exitlong Lstop stop;
 end;