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Richard,
RE> Since they seem to work in 6.0, how did you determine they don't?
I
RE> couldn't understand what your problem is?
You are correct they do seem to work, it was an interpretation error,
the
continous long trace through previous weeks confused me.
However although I can not place it at the moment , there is a
difference between the manual method and EQUIS trace when backtesting.
The method described in Daryl Guppy's book selects the lowest low for
downtrend and the highest high for uptrend.
I believe the EQUIS formula used closing prices, changing to L & H
seemed to bring the trace closer to the manual method however as an
example when the uptrend is applied to the DJ industrial it does not
pick up the 8299 (08/07/97) to give a countback value 8134 (08/04/97)
other occurences similar to this were noticed in backtesting.
I am also unsure what occurs when a price has gapped .
The method is apparently derived from Stowell's 3-Bar Nett Line two
references being the traders magazine "Technical Analysis of Stocks and
Commodities" July 1995 "Tips for Traders and Investors" J.Stowell
published by Money Management
Any thoughts from yourself or other list readers appreciated ?.
Regards
Bruce Waller
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