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Could someone please help with an attempt to do the following:
1- create synthetic weekly bars from daily bars
2- create a Stochastic indicator similar to Kase's Permission Stochastic.
She says in her book "Trading with the Odds" (pgs 55 - 58) that using this
type of stochastic as a filter to permission trades, reduces whipsaws by
about 80% and leads by one or two days the normal longer time-frame
stochastic.
I suspect I need to be using arrays, but my attempt is as follows:
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Variables: SynHi(0), SynLo(0), SynOpen(0), SynClose(0), len(5), SloK(0),
SloD(0);
SynHi = highest(high, 5);
Synlo = lowest(low, 5);
Synopen = open[5];
Synclose = close[5];
{Stochastic - slow using weekly bars}
Inputs: StochLen(46); {Kase says to use (5 * n) +1, so to get the
equivalent of a 9 week stochastic use 46 bars}
SloK = SlowKCustom(synhi, synlo, synopen, StochLen);
SloD = SlowDCustom(synhi, synlo, synclose, StochLen);
Condition1 = SloK > SloD;
Condition2 = SloK < SloD;
Plot1(SloK, "SlowK");
Plot2(SloD, "SlowD");
If Condition1 then
Plot3(50, "TrendUp", tool_green);
If Condition2 then
Plot4(50, "TrendDn", tool_red);
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Thank you for any help you can provide.
Barry
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