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[EquisMetaStock Group] Re: Countback-type Oscillator and signals



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"A couple of points about this, jony:
1).It's been a year or so since Jose last used Tradesym; I know 
because he told me, instead he uses his "profit indicators " which 
come with with either the URSC kit or the Divergeance kit, on the 
basis that Tradesym his not flexible enough for position sizing, and 
David Samborsky, Compuvision boss, seemed uninterested when 
contacted by Jose on this matter.
So Jose designed his own backtesting indicators."

Come on...

--- In equismetastock@xxxxxxxxxxxxxxx, Eduardo Gontan Pulgarin 
<con051204@xxx> wrote:
>
> A couple of points about this, jony:
>   1).It's been a year or so since Jose last used Tradesym; I know 
because he told me, instead he uses his "profit indicators " which 
come with with either the URSC kit or the Divergeance kit, on the 
basis that Tradesym his not flexible enough for position sizing, and 
David Samborsky, Compuvision boss, seemed uninterested when 
contacted by Jose on this matter.
>   So Jose designed his own backtesting indicators.
>   2).I think that everybody knows on this forum what a gentleman 
Jose his, as he has been replying to lots of coding requests - and 
to be fair, some of his solutions are quite complex, beyond the 
ability of many in this forum, myself included.
>   As a matter of fact, he has even warned (ad nauseam, I should 
add) on the perils of such strategies based on the Zig Zag 
indicator, and stressed that there is not such a thing as the Holly 
Grail Indicator itself!
>   I wish you could have a glimpse of the tools Jose and Roy Larsen 
have designed, then you would realised how wrong you are - Jose 
doesn't need anybody to test anything for him, as he is more than 
capable to do so on his own.
>   As the French say:"You have put your finger in your eye all the 
way to the elbow!".
>    
>   Eduardo. 
> 
> pumrysh <no_reply@xxxxxxxxxxxxxxx> wrote:
>           jony,
> 
> You need to spend some time rereading Jose's last post and 
visiting 
> his website. 
> 
> You should note the following statement from Jose:
> 
> "The main reason in posting the indicator is for members to learn 
> and experiment with it, not trade its basic signals."
> 
> As far as putting money on the table, I believe his website 
explains 
> how much and with what system.
> 
> The Countback Oscillator has some interesting concepts in it. You 
> are correct that other indicators offer similar signals...that's 
not 
> the point though. The point is how the final signals were derived. 
I 
> personally enjoyed the "Automatic overBought/Sold levels" and will 
> probably incorporate those in other indicators.
> 
> The point of Jose's post was not that the countback oscillator 
> should be used as a trading system nor was there anything "cheap 
> skate" about it. If that was what you got out of the post then I 
> believe your few months of study have been a waste of time.
> 
> As an aside note, I agree with you that everyone should use due 
> diligence in their trading. It takes a wise person to manage their 
> money in a way that will allow it to grow larger. 
> 
> Preston
> 
> 
> 
> --- In equismetastock@xxxxxxxxxxxxxxx, jony gila 
> <hypersteroid2000@> wrote:
> >
> > I have to admit a few months ago I was a dumb. Not 
> now!!!!!!!!!!!!!!!!!!. Things ends when some one put an effort on 
> his work
> > 
> > I presume your indicator can be used as a trigger signal which 
in 
> other words one wish to design a trading system by this indicator. 
> the logic behind this conversation is "if a one thing is soo good 
> often a person keeps it as his proprietary, however since he is 
not 
> too sure whether this indicator is usefull he try to throw it to 
> other let other tested. once the crappy report is generated, he 
will 
> imediatelly rubbing his hands to collect what ever the rubbish 
> result. " If you are so confident on this indicator why dont you 
use 
> the trade sim to test it you are the mechanical guy 
> right???????????????. Also talking on a fully mechanical system 
Its 
> been a while I didn't chase some wild goose mainly on the chart 
> pattern. one may say this is the lowest low or other might say 
this 
> is a head and shoulder. thus your trading signal become very 
> confusing and cause you headache
> > 
> > 
> > Talking on designning an system, I agree if someone has to spend 
> a quality of time in his research and some heve to use a complex 
> arguments as well as a customed indicator. As your kitchen has to 
> steam up 3 times, there must be a limited time spend that has to 
> enacted.
> > 
> > Sounds you are on top of every one. Do you have any open 
position 
> to trade ?????? I am not to sure as some of your systems are like 
> most of any cost averaging system. If you see trade station you 
may 
> find that the system's name are the same as your average system is 
> this just a coincidence???????? 
> > 
> > 
> > I strongly suggest to those who see this conversation not to 
> easily fall into a cheap skate offer. If not sure DONT 
> TRADE!!!!!!!!!!!!!!
> > 
> > ----- Original Message ----
> > From: Jose Silva <josesilva22@>
> > To: equismetastock@xxxxxxxxxxxxxxx
> > Sent: Monday, 6 November, 2006 1:36:38 PM
> > Subject: [EquisMetaStock Group] Re: Countback-type Oscillator 
and 
> signals
> > 
> > Your inexperience shows in your post, Hypersteroid.
> > Anyone that bases a complete trading strategy on any one single 
> basic 
> > indicator based on price alone, deserves to learn a hard lesson 
> and 
> > lose some trading capital in the process.
> > 
> > The main reason in posting the indicator is for members to learn 
> and 
> > experiment with it, not trade its basic signals.
> > 
> > Eyeball a few charts with the oscillator, and you may yet find 
> some 
> > useful patterns in conjunction with some basic market 
fundamentals.
> > 
> > Experiment with the indicator's code, use some of it as a basis 
> for 
> > other indicators, and learn some non-documented MetaStock 
> programming 
> > techniques in the process.
> > 
> > In other words, the posted indicator is only the start of one of 
> many 
> > learning journeys, and not a Holy Grail destination.
> > 
> > As for the second mouse, only crumbs left for him in this rat 
race 
> > I'm afraid. ;)
> > 
> > jose '-)
> > http://www.metastoc ktools.com
> > 
> > --- In equismetastock@ yahoogroups. com, 
> > "hypersteroid2000" <hypersteroid2000@ ...> wrote:
> > > 
> > > Geeeezeees. the coding looks fine but for me not more than a 
> holy 
> > > junk bucket.
> > > nah, to see how this indicator help your trading system just 
> traded 
> > > lively. IMO this indicator looks like any other average 
> indicator. 
> > > Just trade it in CFD market. I guarantee your account must be 
> > > bleeding red. 
> > > 
> > > 
> > > CUT AND PASTE THE FOLLOWING WISE WORDS------- --------- ----> 
> EARLY 
> > > BIRD MIGHT GET THE WORM BUT ALWAYS THE SECOND MOUSE THAT GET 
THE 
> > > BEST CHEESE
> > > 
> > > ):
> > >
> > >
> > >
> > > --- In equismetastock@ yahoogroups. com, "Jose Silva" 
> > > <josesilva22@ > wrote:
> > >
> > > The countback nature?
> > > To count events backwards.
> > > 
> > > What does it do?
> > > It counts events backwards.
> > > 
> > > The general theory?
> > > Count events backwards.
> > > 
> > > I look forward to the countforward theory.
> > > 
> > > 
> > > jose '-)
> > > http://www.metastoc ktools.com
> > > 
> > > 
> > > 
> > > --- In equismetastock@ yahoogroups. com, 
> > > "formulaprimer" <formulaprimer@ > wrote:
> > >
> > > What is the nature of the countback theory. what does it do
> > > exactly. 
> > > what is the general theory for it?
> > > thanks.
> > > 
> > > 
> > >
> > > --- In equismetastock@ yahoogroups. com, "Jose Silva" 
> <josesilva22@ > 
> > > wrote:
> > >
> > > I've been playing around with the Countback-type Oscillator 
> below, 
> > > and some signals based on it look promising on some charts.
> > > 
> > > Indicators/Oscillat ors of this type don't generally suffer 
from 
> the 
> > > lagging characteristics of mainstream smoothed indicators 
(e.g. 
> > > Stoch, MACD, MAs, etc), and they lend themselves to promising 
> > > signals.
> > > 
> > > Any suggestion for a suitable name for this oscillator is 
> welcome.
> > > 
> > > 
> > > MetaStock -> Tools -> Indicator Builder -> New
> > > -> copy & paste complete formula between "---8<---" lines.
> > > 
> > > ============ ========= ====
> > > Countback-type Oscillator
> > > ============ ========= ====
> > > ---8<------- --------- --------- --------- ---
> > > 
> > > { Countback-type oscillator & signals v2.0
> > > Incorporating automatic overBought/Sold levels
> > > Trade at own risk.
> > > 
> > > ©Copyright 2005~2006 Jose Silva.
> > > The grant of this license is for personal use
> > > only - no resale or repackaging allowed.
> > > http://www.metastoc ktools.com }
> > > 
> > > { User inputs }
> > > pds:=Input(" Oscillator countback periods",
> > > 1,252,21);
> > > plot:=Input( "plot: [1]Oscillator, [2]Signals",
> > > 1,2,1);
> > > type:=Input( "signals: [1]OBought/Sold, [2]Higher Lo, Lower 
Hi",
> > > 1,2,1);
> > > 
> > > { Countback oscillator }
> > > C1:=Ref(C,-1) ;
> > > x:=Sum((C>C1) *(C-C1),pds)
> > > /Max(Sum(Abs( C-C1),pds) ,.000001) *100;
> > > 
> > > { Automatic overBought/Sold levels }
> > > avg:=Cum(x)/ Cum(IsDefined( x));
> > > pk:=Ref(x,-1) =HHV(x,3) AND Ref(x,-1)>avg;
> > > pkVal1:=ValueWhen( 1,pk,Ref( x,-1));
> > > pkVal2:=ValueWhen( 2,pk,Ref( x,-1));
> > > pkValAvg:=Cum( pkVal1)/Cum( IsDefined( pkVal1));
> > > 
> > > tr:=Ref(x,-1) =LLV(x,3) AND Ref(x,-1)<avg;
> > > trVal1:=ValueWhen( 1,tr,Ref( x,-1));
> > > trVal2:=ValueWhen( 2,tr,Ref( x,-1));
> > > trValAvg:=Cum( trVal1)/Cum( IsDefined( trVal1));
> > > 
> > > { OverBought/Sold signals }
> > > entry:=x<trValAvg;
> > > exit:=x>pkValAvg;
> > > 
> > > { Higher troughs / lower peaks signals }
> > > entry:=If(type= 1,entry,
> > > trVal1>trVal2 AND x>pkVal1);
> > > exit:=If(type= 1,exit,
> > > pkVal1<pkVal2 AND x<trVal1);
> > > 
> > > { Clean signals }
> > > init:=Cum(IsDefined (entry+exit) )=1;
> > > bin:=ValueWhen( 1,entry-exit< >0 OR init,entry);
> > > long:=bin*(Alert( bin=0,2)
> > > OR entry*Cum(entry) =1);
> > > short:=(bin= 0)*(Alert( bin,2)
> > > OR exit*Cum(exit) =1);
> > > 
> > > { Plot in own window }
> > > If(plot=1,pkValAvg, 0); {Grey}
> > > If(plot=1,avg, 0); {Grey}
> > > If(plot=1,trValAvg, 0); {Grey}
> > > If(plot=1,x, long-short)
> > > 
> > > ---8<------- --------- --------- --------- ---
> > > 
> > > 
> > > jose '-)
> > > http://www.metastocktools.com
> > 
> > 
> > 
> > 
> > Send instant messages to your online friends 
> http://au.messenger.yahoo.com 
> > 
> > [Non-text portions of this message have been removed]
> >
> 
> 
> 
>          
> 
>  Send instant messages to your online friends 
http://uk.messenger.yahoo.com 
> 
> [Non-text portions of this message have been removed]
>






 
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