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Joined: 10/6/2005(UTC)
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The Peak formula has a %minimum change parameter. I am a bit confused how this is defined.
Is that calculated as follows. If the day in question qualifies as a possible peak (not sure how this is defined) look to the last trough and check the difference between the two as a percentage of the current price.
Which actual trough are we comparing against here. Is it the last trough, what about if there was a trough slightly below the last one but it didn't qualify as a trough because of the minimum change issue.
Thanks I am sure I am making this complicated but I'd just like an enlightened explanation of what the minimum change is measuring between.
Cheers
David
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Rank: Advanced Member
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Joined: 1/19/2005(UTC)
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dklugmann wrote:If the day in question qualifies as a possible peak (not sure how this is defined)
Basically, MetaStock uses hindsight to find the peaks and troughs, similar to this simple forward-referenced Peak/Trough indicator:
[code:1:90c5408de2]pk:=Ref(H,-1)=HHV(H,3);
tr:=Ref(L,-1)=LLV(L,3);
Ref(pk-tr,1)
[/code:1:90c5408de2]
dklugmann wrote:Which actual trough are we comparing against here. Is it the last trough(?)
Yes, MetaStock compares the current trough candidate against the previous valid & established trough, and looks for a minimum % difference between the two.
Note that when applying Peaks/Troughs to data (or indicator values) that cross a zero level (positive to negative or vice versa), it only takes a very small value to trigger the %-based Peak/Trough.
Use $-based Peak(1,Zig(Data Array,Change,$),.001) or Trough(1,Zig(Data Array,Change,$),.001) in this case, as used here.
jose '-)
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Rank: Advanced Member
Groups: Registered, Registered Users
Joined: 10/6/2005(UTC)
Posts: 30
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Jose
Thanks again for explaining things to me. Everything works really well now with the indicator and explorer. I was very impressed. Not sure where I should leave any feedback. The indicator you developed I have appearing by default in a separate inner window (so the chart is not obscured) and one just on the plot itself is just a horizontal line at the close.
One final thing. I have this as my default chart setup. For about one in ten charts (when scrolling through the explorer results at least) neither of the indicators appear and instead of the two windows I get the original one. When I add the indicators manually they work fine. Have you ever seen this behaviour before ? Is it a bug ? ? Also the back button when scrolling through the list of securities returned by the last exploration doesn't work but goes to the previous security in the overall list. The next button does seem to work.
I may try and put this out as a new question to the general forum.
I also looked at the 52 week high or low on your site which I use.
Thanks again for the work. I will be in touch with any future stuff. Possibly some fibonnaci work showing projections , retracements , extensions etc. ? Let me know if you have anything along those lines.
Also let me know where I should leave any feedback.
Regards
David
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