Rank: Newbie
Groups: Registered, Registered Users, Subscribers
Joined: 1/28/2009(UTC)
Posts: 2
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Hello,
I am new to Metastock and I am trying to work out how to write a simple formula but I am unable to do it so I am hoping someone can help me here. It's should be very simple but still I cannot work out how to do it.
This is what I have so far -
EL:=H > Ref(HHV(H,20),-1); {Enter Long Position on a New 20 Period High}
CL:=L < Ref(LLV(L,10),-1); {Exit Long Position on a New 10 Period Low}
ES:=L < Ref(LLV(L,20),-1); {Enter Short Position on a New 20 Period Low}
CS:=H > Ref(HHV(H,10),-1); {Exit Short Position on a New 10 Period High}
EnterLongTrigger:= EL;
I want my "EnterLongTrigger" to only give me a signal to buy long if my previous trade WAS NOT Profitable.
In other words if my previous buy signal proved to be a profitable trade then disregard this buy signal.
How can I write this?
Thank You
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Rank: Advanced Member
Groups: Registered, Registered Users
Joined: 11/7/2005(UTC)
Posts: 602
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Use the function ValueWhen(,,) to fetch the profit or loss.
Give it a try, post back if you are still not able to do it and I will
give it a try.
You may also need the function BarsSince() to position the profit/loss
calculation correctly.
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Rank: Newbie
Groups: Registered, Registered Users, Subscribers
Joined: 1/28/2009(UTC)
Posts: 2
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Thank you Johnl for setting me in the right direction. I have given it a go but I am unable to get it working. Any help much appreciated.
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Rank: Advanced Member
Groups: Registered, Registered Users
Joined: 11/7/2005(UTC)
Posts: 602
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Hope this is close to what you were looking for?
p1:=Peak(2,H,10);
p2:=Trough(2,L,5);
{-----------------------------------}
a1:=Cross(H,p1);
a2:=Cross(p2,L);
{-----------------------------------}
b1:=ValueWhen(1,a1=1,C)-ValueWhen(1,a2=1,C);
b2:=b1-Ref(b1,-1);
b3:=If((b2>0),1,0);
c1:=If((b3=1) AND (ValueWhen(2,b2<>0,b2)<0) ,2,0);
b1;b3;c1
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