In his book De Mark writes about the requirements for a Buy signal for his REI oscillator

1. A mild oversold condition.(<=6) 2. A closing price that is greater than the previous trading day's closing price. 3. The opening price on the trading day immediately following the up close day is less than or equal to the previous trading day's high (the up close day's high). 4. The high that same trading day must exceed upside the previous trading day's true high (a true high is the trading day's high or the previous day's close, whichever is greater).

After creating an indicator for TD REI and another for True High---I coded it thus:-

Hello Wabbit,

               According to your advice---the only condition which has to occur once and has least probability of occuring is

Z:=BarsSince(Cross( Fml( "TD REI"),-40)=0);

Accordingly using the Alert function I tried

Hello Wabbit,

                     Thank you for your reply. I tried your code out but found that it never plots a 1 on any security. Also run as an exploration it never returns a single security.

The REI code I used has been corroborated with the REI indicator found in the commercial Tradestation De Mark indicators package.

The True High indicator has been coded as

Max(H,Ref(C,-1))

You have coded  Alert(Cross(-40,Fml("TD REI")),6)   ---but the difference in bars between Cross(Fml("TD REI"),-40)

and   Alert(Cross(-40,Fml("TD REI")),6) --- you have not fixed at 6.. The Alert function prolongs the signal for 6 more bars  but at any point during the prolongation  the difference in bars may be anything.

I find that a bit strange. Could you clarify my doubts?

Regards,

Dr.Chatterjee

Hello Wabbit,

                Thank you for your reply. Here is the TD Rei code. As I wrote before this has been tested against TD Rei indicator found in the DeMark suite of indicators marketed by Tradestation. The readings are authentic.

TD1:= H-Ref(H,-2); TD2:= L-Ref(L,-2); TD3:= If((H>=Ref(L,-5) OR H>=Ref(L,-6)) AND (L<=Ref(H,-5) OR L<=Ref(H,-6)),1,0); TD4:= If((Ref(H,-2)>=Ref(C,-7) OR Ref(H,-2)>=Ref(C,-8)) AND (Ref(L,-2)<=Ref(C,-7) OR Ref(L,-2)<=Ref(C,-8)),1,0); TD6:= (TD1) + (TD2); TD5:= If((TD3) + (TD4)>=1, (TD6), 0); TD7:= Abs(TD1) + Abs(TD2); TDREI:=((TD5) + Ref(TD5,-1) + Ref(TD5,-2) + Ref(TD5,-3) + Ref(TD5,-4))/ (TD7 + Ref(TD7,-1) + Ref(TD7,-2) + Ref(TD7,-3) + Ref(TD7,-4))*100; TDREI; 45;-45;

Regards,

Dr.Chatterjee

Hello Wabbit,

                Thank you for your reply.According to your instructions I used Fmlvar for both your code and mine---The indicator plots but gives division by zero---maths error

{1. A mild oversold condition.(<=6)} Cross( FmlVar("TD REI","TDREI"), -40) AND Alert(Cross(-40, FmlVar("TD REI","TDREI") ),6) AND {2. A closing price that is greater than the previous trading day's closing price.} Ref(C,-1)<Ref(C,-2) AND {3. The opening price on the trading day immediately following the up close day is less than or equal to the previous trading day's high (the up close day's high).} O<=Ref(H,-1) AND {4. The high that same trading day must exceed upside the previous trading day's true high (a true high is the trading day's high or the previous day's close, whichever is greater).} H>Ref(Fml("True High"),-1)

AND

A:=BarsSince(Cross( FmlVar("TD REI","TDREI")  ,-40)-BarsSince(Cross(-40,  FmlVar("TD REI","TDREI")))); Z:=BarsSince(Cross(  FmlVar("TD REI","TDREI"),-40)=0); B:=Ref(C,-1)>Ref(C,-2) AND (O<=Ref(H,-1)) AND (H>(Ref( Fml( "True High"),-1)) AND A<=6)AND Z; {Plot} B;

Can you help?

Regards,

Dr.Chatterjee

Edited by user Saturday, September 9, 2017 4:07:26 PM(UTC)  | Reason: Not specified