Re: ChartScaning Without Alert

[Wayne Mathews <wayne@xxxxxxxxx>]

At Tue, 02 Feb 1999 19:39:05 -0800 Wayne Mathews wrote:

>I need to scan charts with a volatility indicator that uses swing points
>(strength =3). The average volatility is plotted and I want to filter
>charts that have an average volatility greater than a certain value. The
>alert, of course, will only trigger if there is a value for the
>indicator on the last bar. The problem is that the last swing point may
>be 10 to 20 bars from the last bar and the average volatility plot stops
>at the last swing point. There are so few charts with a swing point on
>the last bar that out of 500 charts only 10 are selected. Visually there
>are many more charts with the average volatility greater than my chosen
>certain value. How can this kind of data be scanned?  I will appreciate
>any help on this.
>
>Wayne Mathews

Here is one solution I worked out late last night while I was up with a
hacking cough from a cold. It is a sample and hold formula that holds
the last data point and writes it to each succeeding bar until a new
data point is determined. I found it in the EL user’s manual, version 4,
in the example that illustrates usage of the function "Bar Number". Of
course, only the last data point is extented to the last bar on the
chart but if that data point is an average it has validity.


var: x(0);

x=IFF(condition, volatility, plot1[1]);

plot1(x,"");
If plot1 > reference number then
  if CheckAlert then alert=true;

Wayne Mathews