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<FONT face=Arial color=#0000ff
size=2>Martin,
<FONT face=Arial color=#0000ff
size=2>
I went
ahead and ran this on the S&P 100 stocks and I noticed that your exit is
probably going to cause you some problems. First, when you do get a run in
your direction, you end up giving a good chunk of the profits back as the stock
falls back down. Second, you can have an entry where the stock is
above the 70 day ema by a slight bit and then have a lower close that is
perfectly normal within a couple of days (not even taking out the pullback low)
and you'll trigger an exit.
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I
would suggest you try other exits.
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Good
Trading,
<FONT face=Arial color=#0000ff
size=2>
Joe
J.
<FONT face=Tahoma
size=2>-----Original Message-----<FONT
face=Arial color=#0000ff>
<FONT face=Tahoma
size=2> From: Joe J.
Sent: Tuesday, March 16, 2004 3:57 PMTo:
Metastockusers@xxxxxxxxxxxxxxxSubject: RE: [Metastockusers] Re:
Weekend Analysis 07 Mar 04
<FONT face=Arial color=#0000ff
size=2>Martin,
<FONT face=Arial color=#0000ff
size=2>
I've
taken what Preston suggested and built two indicators in the custom indicator
section as follows:
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<FONT face=Arial color=#0000ff
size=2>-----------------------------------------
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<SPAN
class=215244122-16032004>{This
identifies the candle pattern on which to go long}
<FONT face=Arial color=#0000ff
size=2>CandLong:=If(Hammer() OR BullHaramiCross() OR LongLowerShadow() OR
RisingWindow()OR 3WhiteSoldiers() OR
EngulfingBull(),1,0);
<FONT face=Arial color=#0000ff
size=2>CandLong;
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size=2>
<FONT face=Arial color=#0000ff
size=2>-----------------------------------------
<FONT face=Arial color=#0000ff
size=2>
<FONT face=Arial color=#0000ff
size=2>{This identifies the setup that you are looking for when the
CandLong signal is generated}
<FONT face=Arial color=#0000ff
size=2>Setup:=If(CLOSE < Mov(C,20,E)ANDCLOSE >
Mov(C,70,E)ANDMov(C,20,E) >
Mov(C,50,E)ANDRSI(21)<50ANDCCI(7)<100,1,0);
<FONT face=Arial color=#0000ff
size=2>Setup;
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size=2>
<FONT face=Arial color=#0000ff
size=2>---------------------------------------
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Plot
these two indicators on your chart separately (you could do them together but
this seemed more useful). Plot them as histograms. When they are
both showing 1's, you have a valid long signal. This seems to be working
since I only have one entry signal for the SPY (see chart attached) since
about mid-2000.
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size=2>
You
can easily convert these into signals within the system tester, the
explorer or create an expert for it. As always, make sure you are
loading enough data to fuel the computations
accurately.
Good
Trading,
Joe
J.
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size=2>
<FONT face=Arial color=#0000ff
size=2>
<FONT face=Arial color=#0000ff
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