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Guy,
The green up arrow was the buy signal. It was generated by the
following MetaStock System test:
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MetaStock for Windows
System Tester
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03_R2, S/C, CCI, TSF - All
SIGNAL FORMULAS
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Enter Long:
Alert(RSquared(C,21) < 0.15,13) AND
Fml("S/C") > opt1 AND
HHV(Fml("S/C"),5) = HHV(Fml("S/C"),13) AND
HHV(CCI(55),5) = HHV(CCI(55),13) AND
CCI(55) > 0 AND
HHV(Mov(C,55,E),5) = HHV(Mov(C,55,E),13)
Close Long:
LLV(TSF(C,55),5) = LLV(TSF(C,55),13) AND
Fml("S/C") < opt1 AND
LLV(CCI(55),5) = LLV(CCI(55),13)
Enter Short:
Alert(RSquared(C,21) < 0.15,13) AND
Fml("S/C") < opt2 AND
LLV(Fml("S/C"),5) = LLV(Fml("S/C"),13) AND
LLV(CCI(55),5) = LLV(CCI(55),13) AND
LLV(Mov(C,144,E),5) = LLV(Mov(C,144,E),13)
Close Short:
HHV(Mov(C,144,E),5) = HHV(Mov(C,144,E),13)
OPTIMIZATION VARIABLES
----------------------
OPT1: Min = -89.00 Max = -21.00 Step = 34.00
OPT2: Min = -89.00 Max = -21.00 Step = 34.00
STOPS ALL OFF
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I attach an expert advisor that gives the bars the colors you saw.
This is done by the highlights section of the Expert Advisor. You can make
a new expert advisor with just the highlights section if you want to
experimment. If you want to use mine, I could email the file to you. Yell
if you want it.
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MetaStock for Windows
Expert Advisor
1/14/97
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Jim's R2 & Regression Slope
EXPERT NOTES
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This Expert uses some of the new statistical indicators in MetaStock to
generate an overall statistical condition report.
Standard Error is used to determine volatility about the current trend.
When Standard Error is relatively low, the security is following the linear
regression rather well. High values show a lot of volatility around the
linear regression, indicating that the security is not "fitting" the linear
regression well.
r-squared is used as a guage to determine the trendiness of the closng
price. Values less than .15 are said to be in a non-trending phase. Values
above .85 are indicating a very strong trend.
The Linear Regression Slope is used to determine the direction the closing
price is moving. Slopes above zero indicate an uptrend. A downtrend is
indicated by a negative slope.
BULLISH TREND
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RSquared(C,21) > 0.2 AND
C > TSF(C,55)
BEARISH TREND
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RSquared(C,21) > 0.2 AND
C < TSF(C,55)
COMMENTARY
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<expert>
Review of <name> (<symbol>)
as of <date>
Open WriteVal(OPEN, 8.4)
High WriteVal(HIGH, 8.4)
Low WriteVal(LOW, 8.4)
Close WriteVal(CLOSE, 8.4)
Change WriteIf((Close-ref(Close,-
1))<0,"WriteVal(Close-ref(Close,-1),8.4)
(WriteVal(((c-ref(c,-1))/Div(ref(c,-1),100)),
0.2)%)")WriteIf((Close-ref(Close,-
1))>0,"WriteVal(Close-ref(Close,-1),8.4)
(WriteVal(((c-ref(c,-1))/Div(ref(c,-1),100)), 0.2)%)")
Volume Today: WriteVal(Mul(Volume,100),0.0) shares.
Statistical Table
smoothed r-squared writeval(mov(
rsquared(c,21),3,s),8.3)
Standard Error writeval(
STE(c,21),8.3)
Linear Regression Slope writeval(
LinRegSlope(c,21),8.3)
Historical Volatility writeval( VolO()
,8.3)
writeif(mov(rsquared(c,21),3,s)<=.15,"rsquared is currently at an
extreme low. This indicates that there is not a strong trend in tact. This
value should increase soon. When it does, there is likely to be a new
short term trend.","writeif(mov(rsquared(c,21),3,s)>=.85,
"rsquared is currently at an extreme high. This indicates that there is a
strong trend in tact. This value should decrease soon. When it does, the
current trend is likely to lull off or reverse.")")\
writeif( Peak(1,Mov( RSquared(C,21),3,S),15)<Peak(2,Mov(
RSquared(C,21),3,S),15) and
highestsince(1,Peak(2,Mov( RSquared(C,21),3,S),15),mov(
rsquared(c,21),3,s)<.15)=0,"The current peak of rsquared is less than
the previous peak. This indicates weakness of the long term trend.","
writeif( trough(1,Mov( RSquared(C,21),3,S),15)>trough(2,Mov(
RSquared(C,21),3,S),15) and
highestsince(1,trough(2,Mov( RSquared(C,21),3,S),15),mov(
rsquared(c,21),3,s)>.85)=0,"The current trough of rsquared is greater
than the previous trough. This indicates strength of the long term
trend.")")\
writeif(LinRegSlope(C,21)>0 and
LinRegSlope(LinRegSlope(C,21),5)>0,"The current slope of the close
is positive moving higher indicating strength of the medium term
uptrend.",
"writeif(LinRegSlope(C,21)>0 and
LinRegSlope(LinRegSlope(C,21),5)<0,"The current slope of the close
is positive moving lower indicating weakness or a slowdown of the
medium term uptrend.")")
writeif(LinRegSlope(C,21)<0 and
LinRegSlope(LinRegSlope(C,21),5)<0,"The current slope of the close
is negative moving lower indicating strength of the medium term
downtrend.",
"writeif(LinRegSlope(C,21)<0 and
LinRegSlope(LinRegSlope(C,21),5)>0,"The current slope of the close
is negative moving higher indicating weakness or a slowdown of the
medium term downtrend.")")\
The standard error is writeval(STE(C,21),0.3)
writeif(STE(C,21)/Mov(STE(C,21),55,S)>1.25,"At this level there is
much higher than normal volatility around the current trend and traders
are probably not in general agreement , not allowing the security to
trend easily. The price is probably not following the regression slope
well.",
"writeif(STE(C,21)/Mov(STE(C,21),55,S)<.75,"At this level there is
much lower than normal volatility around the current trend and traders
are probably in general agreement , allowing the security to trend
easily. The price is probably following the regression slope well.",
"writeif(STE(C,21)/Mov(STE(C,21),55,S)<1.25 and
STE(C,21)/Mov(STE(C,21),55,S)>1,
"At this level there is somewhat greater than normal volatility around
the current trend and traders are probably in mild disagreement , not
allowing the security to trend. The price is probably not following the
regression slope .",
"writeif(STE(C,21)/Mov(STE(C,21),55,S)<1 and
STE(C,21)/Mov(STE(C,21),55,S)>.75 ,"At this level there is
somewhat less than normal volatility around the current trend and
traders are probably in mild agreement , allowing the security to trend.
The price is probably following the regression slope .")")")")
HIGHLIGHTS
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Name: Up Trend
Condition: RSquared(C,21) > 0.2 AND
C > TSF(C,55)
Color: Dk Green
Name: Down Trend
Condition: RSquared(C,21) > 0.2 AND
C < TSF(C,55)
Color: Red
Name: Neutral
Condition: RSquared(C,21) <= 0.2
Color: Blue
SYMBOLS
-------
ALERTS
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Hope that helped. I don't have CUBE in my database. PAIR looks like
a good bottom fishing candidate with a stop at 14 3/4.
Jim
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From: Guy Gordon <gordon@xxxxxxxxxxx>
To: metastock-list@xxxxxxxxxxxxx
Subject: Re: Weekly Pick.
Date: Tuesday, July 22, 1997 11:59 PM
On Sun, 20 Jul 1997 13:37:51 -0400, Jim wrote:
> APM didn't pull back much, but I did get the buy signal
>Friday. I think it does have an excellent chance of getting back to the
>Feb high in the next few months. It looks like APM's earnings are really
>exploding. APM.GIF attached.
Thanks for the APM.GIF. I got it on the second try.
But I just don't see your buy signal. I sold on the 17th when I got
sell signals from RSI and Stochastics (not to mention from the price
itself.) None of those have given me a new buy signal.
Assuming your gif was from MetaStock, how do you get different date
ranges of your price bars to be different colors? (Or did you just
edit the gif?)
BTW: It looks like QNTM and WDC will hold their price breakouts. I
held onto my QNTM, but I'm not in WDC at the moment.
I bought CUBE today, and probably PAIR tomorrow. I've got too much
cash, and so do lots of traders who took profits last week. I'm
looking for more stocks that are buys.
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