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I
called MetaStock support today because I was curious about some odd results with
the System Tester (ST). I then tested it myself to verify it.
THERE IS A MAJOR FLAW IN THE SYSTEM TESTER.
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If one
places a close long and a close short position and both the close and the entry
in the opposite direction are hit on that day, the position will be closed but
THE OPPOSITE POSITION WILL NOT BE ENTERED. It is even worse if you choose to
close on open the following day. The opposite signal will not be allowed to
trigger until the following day.
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To
test this I used the following simple system:
Enter
Long: Cross(Mov(C ,3 ,S ), Mov(C ,18 ,S ) )
Close
Long: Cross(Mov(C ,18 ,S ), Mov(C ,3 ,S ) )
Enter
Short: Cross(Mov(C ,18 ,S ), Mov(C ,3 ,S ) )
Close
Short: Cross(Mov(C ,3 ,S ), Mov(C ,18 ,S ) )
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<SPAN
class=200402316-29062001>Because the Enter Long & Close Short as well as the
Enter Short & Close Long are identical, one would expect to show at
every point both a closing of one position and an opening of the other. This
does not happen!
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The
same is true for Experts. If both a Close and an Enter are triggered on the same
day, only 1 symbol will be displayed. They are displayed in order from top
down.
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I
suggest two actions. First, copy the message above and send it to MetaStock
Feedback at:
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<A
href="mailto:suggestions@xxxxxxxxx";>suggestions@xxxxxxxxx
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<SPAN
class=200402316-29062001>Second, until this is fixed, test only longs or shorts
by themselves unless you are using a reversal system where you are not using
Close.
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Below
is information from the MetaStock Help file.
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This
is the page in MetaStock help file:
The System Editor Dialog
The System Editor dialog lets you
name the system test, store notes regarding the system, and define the four
trading rules.The trading rules use the formula syntax explained in the
MetaStock formula language section (see What is the MetaStock Formula
Language?). This syntax is very similar to the syntax used to enter
formulas in spreadsheets. Each trading rule may contain up to 1024
characters. If you are unfamiliar with the MetaStock formula
language, you should see What is the MetaStock Formula
Language?.
Remember that a trading system can be
in one of three different states: long, short, or out.
When out, simple interest is earned
at the rate specified in the System Testing Options dialog (see System Testing
Options).You use the four tabs to select which rule to display and
edit.
Enter Long. This rule
specifies when the system should buy long. A long position can only be
entered when the system is short or out. When in a long position, this
rule is ignored.
Close Long. This rule specifies
when the system should close a long position. When in a short or out
position, this rule is ignored.<FONT face=Arial color=#008080
size=4>
Enter Short. This rule specifies when the system should sell
short. A short position can only be entered when the system is long or
out. When in a short position, this rule is ignored.
Close Short. This rule specifies when the system should cover
(i.e., close) a short position. When in a long or out position, this rule
is ignored.
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