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We have the functions Maxtradehigh, Maxtradelow and Maxtradeclose and
Mintradelow, Mintradehigh and Mintradeclose which can be used in either a
long or short trade. We use them as part of our Chandelier and other Exit
Straties.
for a long trade
if maxtradeclose > avgtruerange(10) * 3 then ....... etc
They are attached in the file chan.ela Transfer them in as functions. Use
liberally.
David Elden
Traderclub Tech Support
webmaster@xxxxxxxxxxxxxx
http://www.traderclub.com
-----Original Message-----
From: Mark Keenan [mailto:mk@xxxxxxxxxxxxx]
Sent: Thursday, September 02, 1999 4:13 PM
To: omega
Subject: Easy language question on welles wilder's volatility system
Does any one have the .ela file for the volatility system described on page
23 of Welles Wilder's "New Concepts in Technical Trading systems"
I have been trading the system in real time with outstanding results on
Soybeans, Sugar and Gold and now want to backtest it on other markets.
The problem that I have is simple:
How can I reference the highest close whilst in a short trade and the lowest
close whilst in a long trade?????
The system requires these as signals are generated when the SAR (calculated
as the AverageTrueRange * 3 away from the Highest and lowest closes when in
a short and long trade respectively)
Any help would be greatly appreciated.
Mark
Attachment Converted: "c:\eudora\attach\chan.ela"
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