[EquisMetaStock Group] Interpretation of Formula

["Michael" <michael.mandell@xxxxxxxxxxx>]

I was wondering if anyone can help me decipher the following formula 
for a system backtest. The formula is:

target:=1.0;
pt:=Trough(1,Security("SPY",c),target);
time:=TroughBars(1,Security("SPY",c),target);
signal:=Cross(((Security("SPY",c)-pt)/pt)*100,target);
signal AND (Ref(BarsSince(signal),-1)>=time)

The concept is that the above formula will purchase a selected 
security at such time as the SPY increases at least 1% above its 
most recent trough. 

The sell side of the formula is:

target:=1.0;
pt:=Peak(1,Security("SPY",c),target);
time:=PeakBars(1,Security("SPY",c),target);
signal:=Cross(Neg(target),((Security("SPY",c)-pt)/pt)*100);
signal AND (Ref(BarsSince(signal),-1)>=time)

In the above formula, the sell signal is suppose to occur when the 
SPY closes 1% below its most recent peak.

For the most part, it appears that the signals are correct but when 
I run this in Metastock Pro 8.0, I am not catching all the signals.  
Perhaps I am missing something or have too much in the formula.

Can anyone with some programming assistance let me know if this is 
programmed properly?

Thank you.

Mike



 
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