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Greetings All,
Responding to a further question of mine, Mike Sloane has supplied some
very helpful information and it should be shared with the list.
My questions follow below, then Mike's response:
1. Even with my limited grasp of the syntax it seems that if I wanted to
vary my trend definition, all I would have to do is replace the statement
following Trend:=, right? But what about changing the trigger? Say my
trigger is some formula I've cooked up in the indicator builder called . .
. I don't know . . . "TURN" consisting of an oversold StoRSI or some price
pattern. Would I simply substitute "TURN" instead of Cross(Mov(C, 8, E),
Mov(C, 13, E)); following Trigger:=? And would this entail making a change
to the next to last line, the line that currently reads: Signal:=
Cross(Test, 1.5);?
2. The syntax you''ve written could be used both as an indicator or an
exploration filter, correct?
>Hi Philip,
>
>1.0 Yes, you could replace Trend with any variation of your definition
>of the trend.
>2.0 Yes, you could replace Trigger with any indicator, provided it is a
>binary signal (only possible values are 0 or 1)
>3.0 No; in my code, Test rises to 1 when Trend is true and rises to 2
>when "Trend is already true and Trigger becomes true" (note Trigger is
>true for one bar only); Signal spikes when Test rises from 1 -> 2 (i.e.
>Crosses 1.5).
>
>A couple of further points:
>
>My code is an example of a latched indicator that requires the use of the
>PREV function; for some reason I tend to write a lot of my code this way.
>The code posted by metarockx is a perfectly valid (and efficient) way of
>achieving the same result without using the PREV function - an important
>factor if you have a slower computer or many indicators that use the PREV
>function, as it requires more processing time.
>
>However there were a couple of small errors with ">" and "<" in the
>metarockx code; I have taken the liberty of correcting it and rearranging
>it a little:
>
>
>Trend := Mov(C,55,E) > Ref(Mov(C,55,E),-1);<?xml:namespace prefix = o ns =
>"urn:schemas-microsoft-com:office:office" />
>
>StartTrend := Trend AND Ref(Mov(C,55,E),-1) < Ref(Mov(C,55,E),-2);
>
>Trigger:= Cross(Mov(C,8,E),Mov(C,13,E));
>
>Signal:= Trend AND Trigger
>
>AND BarsSince(Ref(Trigger,-1)) > BarsSince(StartTrend);
>
>
>
>Signal
>
>
>Note that when they are both plotted on a chart (see attached SPX -
>metarockx signal is top/blue; my signal is bottom/purple), my signal
>requires Trend to be established for one day before Trigger can give a
>signal; metarockx code will give a signal in the case where Trend and
>Signal both become true on the same day.
>
>It all depends on what you wish to achieve.
>
>As noted in my earlier post, when I am building an indicator like this I
>will often create separate sub-indicators (Trend, Trigger, Test etc) and
>plot them in separate windows on the chart, observe the interaction and
>make sure it is doing exactly what I intended.
>
>
>Good trading,
>Mike
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