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



PureBytes Links

Trading Reference Links

Relax dude.  Jose was clear in his original post concerning the posted
indicator. 

 

The longer you work with Metastock, you may find yourself asking questions
like "how do I do this". 

 

Past posts from Jose and Roy, will most likely solve most of your coding
issues. 

 

I have certainly found this the case, and thus appreciate the contributions
of Jose to this free mailing list. 

 

Regards

 

Dave

 

 

 

  _____  

From: equismetastock@xxxxxxxxxxxxxxx [mailto:equismetastock@xxxxxxxxxxxxxxx]
On Behalf Of jony gila
Sent: Monday, 6 November 2006 11:02 PM
To: equismetastock@xxxxxxxxxxxxxxx
Subject: Re: [EquisMetaStock Group] Re: Countback-type Oscillator and
signals

 

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@ <mailto:josesilva22%40yahoo.com> yahoo.com>
To: equismetastock@ <mailto:equismetastock%40yahoogroups.com>
yahoogroups.com
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.
> 
> CCopyright 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.metastoc ktools.com

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