Re: Retracement ELA Help Please

[Bob Fulks <bfulks@xxxxxxxxxxxx>]

Try something like:

if ConditionX and Close >= H + y then begin
   BPrice = H + y;
   BuyOK1 = TRUE;
   Count = 0;
end;

if BuyOK1 and Close <= BPrice - Z then begin
   BuyOK2 = TRUE;
   BuyOK1 = FALSE;
end;

if BuyOK2 then Buy next bar at BPrice stop;

Count = Count + 1;

Don't forget to reset BuyOK1 and BuyOK2 to FALSE somewhere. You might like to cancel the signals after so many bars (I used 10 in the example), etc.

if MarketPosition = 1 or Count > 10 then begin
   BuyOK1 = FALSE;
   BuyOK2 = FALSE;
end;

Bob Fulks



At 9:46 AM -0400 9/14/00, bkmk wrote:

>I trade stocks using a signal such as:
>
>If Condition X then Buy at H + y stop;
>
>I find that the system is more profitable if I don't take the signal right
>away but wait for a pull back and then a rise again to the initial Buy
>signal.  So far, I'm doing this subjectively but I'd like to actually write
>this retracement into my system.
>
>I'd like it to say that if Condition X and H + stop happens (original Buy
>signal) and then there is a pullback by Z amount then Buy when the price
>equals the original Buy signal price.
>
>I hope I made this clear.
>
>Thanks for any help w ith this.