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If you have all of the formulas for the three line break programmed
in Visual Basic, you can buy the Metastock Developers kit which will
allow you to create dlls which link into the MS. Once you have that,
you can call up the function fml in MS.
Here's the link to the kit.
http://www.equis.com/Partners/Developers.aspx
Once you get all of this done you can share the dll with all of us
who use the three line break.
--- In equismetastock@xxxxxxxxxxxxxxx, "Michael Simmons"
<mjsimmons@xxxx> wrote:
>
> Hi superfragalist
>
> I have actually developed the necessary macros using the original
Excel
> macro language prior to Visual Basic,
> and scan the whole of the UK stock market each day which gives me
everything
> I need on the 3 Line Break signals in the UK for that day.
>
> I also get indications for the subsequent confirmation of each 3
Line Break.
>
> Whilst Metastock is very good it does have it's limitations, and I
find
> Excel a great supplement to give me those additional answers that I
require.
>
> I accept that you should not use the 3 Line Break in isolation and
that it
> should be used in conjunction with Candlestick Charting and also
western
> technical indicators such as the RSI.
>
> The reason for asking as to whether anybody has programmed
Metastock to scan
> for 3 Line Break signals is to integrate this with the use of
Metastock and
> combine searches for these signals with other indicators.
>
> I should add that developing my Excel approach which is very
accurate was
> very complex and took many man hours but was worth it.
>
> In the book 'The Japanese Chart of Charts' Seiku Shimuzu purports
to have
> been very successful in using the 3 Line Break.
>
> There is no Holy Grail - but you can still be very successful.
>
>
> Regards
>
>
> Mike Simmons
>
>
>
>
>
>
> ----- Original Message -----
> From: "superfragalist" <kelols@xxxx>
> To: "Michael Simmons" <mjsimmons@xxxx>
> Sent: Monday, November 22, 2004 4:59 PM
> Subject: Re: Three Line Break signals
>
>
> >
> > I see you're skeptical of my answer that three line break charts
> > can't be programmed in MS formula language. Typical of newbie's.
> >
> > Go back and read my post again. Follow the steps I outlined and
> > you'll get what you need, or at least close enough that's it good
> > enough. In TA that's the trick newbie's can't understand--close
> > enough is good enough.
> >
> > There are only three people on this board that could possibly know
> > how to do what you're asking. That's me, Roy and Jose. I'm the
only
> > one that responded because we've heard the question 500 times and
are
> > tired of answering it.
> >
> > I like three line break charts. They have some value. However, you
> > should ask yourself, Gee, if they work so good how come everybody
> > doesn't use them?
> >
> > You should sign up for Roy's newsletter at www.metastocktips.co.nz
> >
> > It will teach you how to do all the things in MS you want to do.
> > After you read that for a few months, you'll know why you can't
> > program three line break charts in MS and why it would be a waste
of
> > time.
> >
> > Be sure to get the back issues. They're valuable.
> >
> >
> >
> >
> > --- In equismetastock@xxxxxxxxxxxxxxx, "Michael Simmons"
> > <mjsimmons@xxxx> wrote:
> > > Hi Chandrashekhar
> > >
> > > Thank you for your response to my query reference three line
break
> > signals.
> > >
> > > You ask me: "could u please explain in details which 3 line
break
> > signal u want to explore ?"
> > >
> > > The signals I am intererested in are as described by Steven B.
> > Achelis in his book:
> > > Technical Analysis from A to Z. (which is also reproduced in
it's
> > entirety on the web site http://www.equis.com/Education/TAAZ.
> > >
> > > I have reproduced the page on the three line break below:
> > >
> > > THREE LINE BREAK
> > >
> > > Overview
> > >
> > > Three Line Break charts display a series of vertical boxes
> > ("lines") that are based on changes in prices. As with Kagi,
Point &
> > Figure, and Renko charts, Three Line Break charts ignore the
passage
> > of time.
> > >
> > > The Three Line Break charting method is so-named because of the
> > number of lines typically used.
> > >
> > > Three Line Break charts were first brought to the United States
by
> > Steven Nison when he published the book, Beyond Candlesticks.
> > >
> > >
> > >
> > > Interpretation
> > >
> > > The following are the basic trading rules for a three-line break
> > chart:
> > >
> > > a.. Buy when a white line emerges after three adjacent black
> > lines (a "white turnaround line").
> > >
> > > b.. Sell when a black line appears after three adjacent white
> > lines (a "black turnaround line").
> > >
> > > c.. Avoid trading in "trendless" markets where the lines
> > alternate between black and white.
> > > An advantage of Three Line Break charts is that there is no
> > arbitrary fixed reversal amount. It is the price action which
gives
> > the indication of a reversal. The disadvantage of Three Line Break
> > charts is that the signals are generated after the new trend is
well
> > under way. However, many traders are willing to accept the late
> > signals in exchange for calling major trends.
> > >
> > > You can adjust the sensitivity of the reversal criteria by
changing
> > the number of lines in the break. For example, short-term traders
> > might use two-line breaks to get more reversals while a longer-
term
> > investor might use four-line or even 10-line breaks to reduce the
> > number of reversals. The Three Line Break is the most popular in
> > Japan.
> > >
> > > Steven Nison recommends using Three Line Break charts in
> > conjunction with candlestick charts. He suggests using the Three
Line
> > Break chart to determine the prevailing trend and then using
> > candlestick patterns to time your individual trades.
> > >
> > > Example
> > >
> > > The following illustration shows a Three Line Break and a bar
chart
> > of Apple Computer.
> > >
> > >
> > >
> > >
> > >
> > > You can see that the number of break lines in a given month
depend
> > on the price change during the month. For example, June has many
> > lines because the prices changed significantly whereas November
only
> > has two lines because prices were relatively flat.
> > >
> > > Calculation
> > >
> > > Line Break charts are always based on closing prices.
> > >
> > > The general rules for calculating a Line Break chart are:
> > >
> > > a.. If the price exceeds the previous line's high price, a new
> > white line is drawn.
> > >
> > > b.. If the price falls below the previous line's low price, a
new
> > black line is drawn.
> > >
> > > c.. If the price does not rise above nor fall below the
previous
> > line, nothing is drawn.
> > > In a Three Line Break chart, if rallies are strong enough to
> > display three consecutive lines of the same color, then prices
must
> > reverse by the extreme price of the last three lines in order to
> > create a new line:
> > >
> > > a.. If a rally is powerful enough to form three consecutive
white
> > lines, then prices must fall below the lowest point of the last
three
> > white lines before a new black line is drawn.
> > >
> > > b.. If a sell-off is powerful enough to form three consecutive
> > black lines, then prices must rise above the highest point of the
> > last three black lines before a new white line is drawn.
> > >
> >
______________________________________________________________________
> > _
> > >
> > > The signals that I wish to scan for are:
> > >
> > > The White Turnaround and Balck Turnaround as described above.
> > >
> > > Regards
> > >
> > >
> > >
> > > Mike Simmons
> >
> >
> >
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