Hi Giorgos,

This web site is down.

Regards

WT

YES. The SI indicator is a variation of the ZigZag function but not identical (as mentioned in my article) and YES, this tool is of limited value for either backtesting or generating valid trading signals but that is not its purpose.

The aim of my article (upon which this add-on is based) is to make pubicly available a step-by-step algorithm for automatic construction of trendlines (there are some commercial software that do just that, but now an algorithm is available for free) not the presentation of a trading system. The add-on simply implements this algorithm in Metastock and serves as a quick guide for trendline indentification (again, it is not a trading system or something similar). It is not of no value however due to a couple of reasons. First, novices will find an easy way to identify active proper trendlines (the terms "active trendline" and "proper trendline" are defined in my article) and second, an exploration can be constructed (using the functions of the add-on) which can show at a glance which securities broke a trendline, or are very close to a trendline.

I must mention that my algorithm is the first block of a somehow complex technique for identification of short, medium and long term trends based completely upon automatic trendlines. I have not decided yet if I will publish an article about this technique however.

Regards,

Giorgos E. Siligardos
http://www.daedalussoft.com

I tried this and the SI would plot but the TL would not... any thoughts?

Those with PowerPivots might try this:

PPivot:=Input("P 1=minor 2=intermediate 3=major 4=primary",1,4,2);
TPivot:=Input("T -1=minor -2=intermediate -3=major -4=primary",-4,-
1,-2);
Mlt:=Input("ATR multiplier",0,10,0);
FTrough := LastValue( ExtFml("Powerpivots.NthPivotPrice",Tpivot,0,1));
STrough := LastValue( ExtFml("Powerpivots.NthPivotPrice",Tpivot,1,1));
DeltaVerticalU := FTrough - STrough;
DeltaHorizontalU :=
LastValue(ExtFml("Powerpivots.BarsSinceNthPivot",Tpivot,1)) -
LastValue(ExtFml("Powerpivots.BarsSinceNthPivot",Tpivot,0));
DeltaPerBarU := DeltaVerticalU / DeltaHorizontalU;
BarNoSecondTrough := LastValue(
Cum(1) - ExtFml("Powerpivots.BarsSinceNthPivot",Tpivot,1));
TrendD := If(Cum(1) < BarNoSecondTrough,
BarsSince(Cum(1) >= BarNoSecondTrough),
STrough +
(DeltaPerBarU * (Cum(1) - BarNoSecondTrough)));
Up:=If(FTrough >= STrough,
TrendD,
BarsSince(FTrough >= STrough));
FPeak := LastValue( ExtFml("Powerpivots.NthPivotPrice",Ppivot,0,1));
SPeak := LastValue( ExtFml("Powerpivots.NthPivotPrice",Ppivot,1,1));
DeltaVerticalD := FPeak - SPeak;
DeltaHorizontalD :=
LastValue(ExtFml("Powerpivots.BarsSinceNthPivot",Ppivot,1)) -
LastValue(ExtFml("Powerpivots.BarsSinceNthPivot",Ppivot,0));
DeltaPerBarD := DeltaVerticalD / DeltaHorizontalD;
BarNoSecondPeak := LastValue(
Cum(1) - ExtFml("Powerpivots.BarsSinceNthPivot",Ppivot,1));
TrendU := If(Cum(1) < BarNoSecondPeak,
BarsSince(Cum(1) >= BarNoSecondPeak),
SPeak +
(DeltaPerBarD * (Cum(1) - BarNoSecondPeak)));
Dn:=If(FPeak <= SPeak,
TrendU,
BarsSince(FPeak <= SPeak));
X:=If(PPivot=1,ATR(5),If(PPivot=2,ATR(20),ATR(40)));
Up+mlt*x;Up-Mlt*x;Dn+mlt*x;Dn-Mlt*x;Up;Dn

do not remember where I got this from. I added an allowance for atr margins above and below the trend lines.