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Hi Dick - nice explanation. I need to read up on Welles Wilder's
ADX. I was never very partial to it - thinking - that by the time
you got a signal from ADX that a trend has formed - you have already
lost the best part of the trend. Maybe I'm wrong - but I have to
borrow some bks from the lib and check it.
So - you guys have a group in Dallas to discuss this sort of stuff.
Thats nice. Wish I knew of folks who would like to get together in
Long Island or NYC.....share ideas.
Will take a look at your code again...when I get a break from
work....which may not be for sometime.......plus I got some ideas in
my head that I would like to test..........on money flow and all.
Need to check out Steve's cleanup of my FVE code.....Aahh!! so much
to do - so little time..... :-)
--- In amibroker@xxxxxxxxxxxxxxx, "areehoi" <hoierman@xxxx> wrote:
> Dickie,
> Glad you ask about the PDI and MDI indicators. They are a part of
the
> ADX (Average Directional Movement Index) developed by Wells Wilder.
It
> is an oscillator that fluctuates between 0 and 100. It does not
> determine Bullish or Bearish but rather the strength of the current
> trend. You will find it in the AFL formulas in the AmiBroker
library.
> The ADX is actually derived from two other indicators developed by
> Wells Wilder. They are the Positive Directional Indicator (+DI or
> PDI) and the Negative Directional Indicator (-DI or MDI). These are
> built in indicators for AmiBroker. In most activity (TA) buy and
sell
> signals are generated when one crosses the other or is above or
below.
> I've been taught for Longs never take a position unless the PDI has
> crossed or is above the MDI. The opposite for shorts. We have a
> Amibroker users group here in Dallas that consist of AmiBroker,
Trade
> Station and MetaStock users. We have discussed these indicators at
> length and the consensus is to make sure the PDI has crossed or
above
> theMDI (for longs). So, I have included it in most of the formulas I
> use. Hope this clarifies.
>
> Dick H.
>
>
>
> --- In amibroker@xxxxxxxxxxxxxxx, "Dickie Paria" <babui@xxxx> wrote:
> > Took a quick glance at the code. What exactly is PDI and MDI in
the
> > Buy/Sell rules ?!!
> >
> >
> > --- In amibroker@xxxxxxxxxxxxxxx, "areehoi" <hoierman@xxxx> wrote:
> > > Dickie,
> > > Here's another Breakout exporation/scan you may wish to look at
that
> > > gets fairly good results.
> > > /* Breakout based on MetaStock & TC 2000 formulas*/
> > > // get 25-day average volume and compare today's volume
> > > V25 = MA(V, 25);
> > > Cond1=(Close>1.06*L)AND(V>V/V25);
> > > Cond2=((HHV(C,25)-LLV(C,25))/MA(H,25)-MA(L,25)*25)*100;
> > > Buy = Cond1 AND Cond2 AND (PDI (14)>MDI(14))AND C> Ref(C,-1);
> > > Sell = (PDI (14)<MDI(14));
> > > Filter = C <30 AND C >2 AND Volume > 100000;
> > > Result = WriteIf(Buy,"Buy","Sell");
> > > AddTextColumn(Result,"Trade",
> > > formatChar,IIf(Buy,colorDarkGreen,colorRed ),
> > > IIf(Sell,colorLime,colorPink));
> > > AddColumn( Close, "Close", 1.2, IIf( ROC(C, 1 ) >= 0,
> > > colorDarkGreen,colorRed ),50 );
> > > AddColumn(Ref(Close,-1),"Y-Close",1.2, IIf(
> > > ROC(Ref(C,-1),1)>=0,colorDarkGreen, colorRed ),50 );
> > > AddColumn( Volume, "Volume", 10.0, IIf( ROC(V, 1 ) >=
> > > 0,colorDarkGreen, colorRed ) );
> > > AddColumn( ROC( Close, 1 ), "ROC(1)", 1.2, IIf( ROC(C, 1 ) >=
> > > 0,colorDarkGreen, colorRed));
> > > Buy = ExRem(Buy,Sell);
> > > Sell = ExRem(Sell,Buy);
> > >
> > >
> > > --- In amibroker@xxxxxxxxxxxxxxx, "Dickie Paria" <babui@xxxx>
wrote:
> > > > Buy = LinRegSlope( C, 10 ) < Ref(C, -10 ) *0.6/100 AND
> > > > LinRegSlope( C, 10 ) > -Ref( C, -10 ) * 0.3/100 AND Close >
Open
> > AND
> > > > Low >= Ref(High, -1) AND Volume > Ref(Volume, -1);
> > > >
> > > > Short = LinRegSlope( C, 10 ) < Ref(C, -10 ) *0.6/100 AND
> > > > LinRegSlope( C, 10 ) > -Ref( C, -10 ) * 0.3/100 AND Close <
Open
> > AND
> > > > High <= Ref(Low, -1) AND Volume > Ref(Volume, -1);
> > > >
> > > > **************************************************
> > > >
> > > > The above is a scan for picking stocks that are making a
breakout
> > > > from base (long or short). Actually - you can use it for
> > intraday,
> > > > forex, futures, options whatever. There are some who believe
> > that a
> > > > breakout signal is more valid if the price base is relatively
> > long.
> > > > In that case - change the '10' in the code to whatever number
you
> > > > want - lets say - '120'. If you want to backtest then simply
add
> > > > a 'Sell' and/or 'Cover' rule of your choice. To get you
started -
> >
> > > > here's a simple sell/cover rule
> > > >
> > > > Sell = Close < EMA(Close, 5);
> > > > Cover = Close > EMA(Close, 5);
> > > >
> > > > I don't believe a breakout signal by itself is profitable -
else,
> > > > everybody and their mother would be doing it. But combine
with
> > your
> > > > favorite indicators and you may get a profitable trading
> > strategy.
> > > > For an idea of how to incorporate a 'price base' in the 'Buy'
> > rule
> > > > with 2 indicators - look at a previous post of mine
> > > > titled 'Revelation Trading System' (posted about a week ago
on
> > this
> > > > forum).
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