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KTP2  
#1 Posted : Tuesday, May 11, 2010 1:47:37 PM(UTC)
KTP2

Rank: Advanced Member

Groups: Registered, Registered Users, Subscribers
Joined: 2/2/2007(UTC)
Posts: 367

Was thanked: 1 time(s) in 1 post(s)

M. H. Pee's article, "Trend Trigger Factor," introduces an indicator of the same name. The formula for this indicator and the steps to include it into MetaStock are below:

To enter this indicator into MetaStock:

    <li>In the Tools menu, select Indicator Builder. <li>Click New to open the Indicator Editor for a new indicator. <li>Type the name of the formula. <li>Click in the larger window and type in the following formula.

Name: Trend Trigger Factor

Formula:

x:=Input("number of periods",2,100,15);
bp:=HHV(H,x)-Ref(LLV(L,x),-x);
sp:=Ref(HHV(H,x),-x)-LLV(L,x);
((bp-sp)/(0.5*(bp+sp)))*100

As Mr. Pee's article also included the signals to trade this indicator, it is possible to construct a system test and an expert advisor for it. These formulas and the procedure for creating them follow.

To create the system test:

    <li>In the Tools menu, select the Enhanced System Tester <li>Click New to open the system tester editor <li>Select the Buy Order tab and insert this formula:
    x:=15;
    bp:=HHV(H,x)-Ref(LLV(L,x),-x);
    sp:=Ref(HHV(H,x),-x)-LLV(L,x);
    ttf:=((bp-sp)/(0.5*(bp+sp)))*100;
    Cross(ttf,100)
    <li>Select the Sell Order tab and insert this formula:
    x:=15;
    bp:=HHV(H,x)-Ref(LLV(L,x),-x);
    sp:=Ref(HHV(H,x),-x)-LLV(L,x);
    ttf:=((bp-sp)/(0.5*(bp+sp)))*100;
    Cross(-100,ttf)
    <li>Select the Sell Short Order tab and insert this formula:
    x:=15;
    bp:=HHV(H,x)-Ref(LLV(L,x),-x);
    sp:=Ref(HHV(H,x),-x)-LLV(L,x);
    ttf:=((bp-sp)/(0.5*(bp+sp)))*100;
    Cross(-100,ttf)
    <li>Select the Buy to Cover Order tab and insert this formula:
    x:=15;
    bp:=HHV(H,x)-Ref(LLV(L,x),-x);
    sp:=Ref(HHV(H,x),-x)-LLV(L,x);
    ttf:=((bp-sp)/(0.5*(bp+sp)))*100;
    Cross(ttf,100)

Click Ok to close the editor.

To create the expert advisor:

    <li>In the Tools menu, select the Expert Advisor <li>Click New to open the expert editor <li>Select the Highlights tab <li>Click New to make a new highlight <li>Enter the name as: Long <li>Set the color to Green <li>Enter the following formula for the condition:
    x:=15;
    bp:=HHV(H,x)-Ref(LLV(L,x),-x);
    sp:=Ref(HHV(H,x),-x)-LLV(L,x);
    ttf:=((bp-sp)/(0.5*(bp+sp)))*100;
    ttf>100
    <li>Click ok to close the highlight editor <li>Repeat steps 4-8 to make the short highlight listed below

    Name: Short

    Color: Red

    Condition:

    x:=15;
    bp:=HHV(H,x)-Ref(LLV(L,x),-x);
    sp:=Ref(HHV(H,x),-x)-LLV(L,x);
    ttf:=((bp-sp)/(0.5*(bp+sp)))*100;
    ttf<-100
    <li>Select the Symbols tab <li>Click New to make a new symbol <li>Enter the name as Buy <li>Enter the following formula for the condition:
    x:=15;
    bp:=HHV(H,x)-Ref(LLV(L,x),-x);
    sp:=Ref(HHV(H,x),-x)-LLV(L,x);
    ttf:=((bp-sp)/(0.5*(bp+sp)))*100;
    Cross(ttf,100)
    <li>Select the Graphics tab <li>Set the symbol to the up arrow and the color to green <li>Click Ok to close the symbol editor <li>Repeat steps 11-16 to make the sell symbol listed below

    Name: Sell

    Condition:

    x:=15;
    bp:=HHV(H,x)-Ref(LLV(L,x),-x);
    sp:=Ref(HHV(H,x),-x)-LLV(L,x);
    ttf:=((bp-sp)/(0.5*(bp+sp)))*100;
    Cross(-100,ttf)

    Symbol: Sell Arrow

    Color: Red

    <li>Click OK to close the expert editor

William Golson
Equis International

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