Rank: Member
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Joined: 12/11/2005(UTC)
Posts: 16
Location: Mexico City
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As you know when Extreme point rule is described at MS help as shown below......I need to expolore the price that we should wait until the price should rise for the buy signal.
Would you please help to find this price by using explorer...(the high price on the day that the +DI and -DI lines crossed before buying AND the lowest price on the day that the -DI and +DI lines crossed...)
Regards....
Jed...
Metastock Help Interpretation
"""""Positions should be taken by buying when the +DI rises above the -DI (i.e., the formula shown above rises above zero) and selling when the +DI falls below the -DI (i.e., the formula falls below zero).
These simple trading rules are qualified with the "extreme point rule." This rule is designed to prevent whipsaws and reduce the number of trades.
The extreme point rule requires that on the day that the +DI and -DI cross, you note the "extreme price." If you are long, the extreme price is the low price on the day the lines cross. If you are short, the extreme price is the high price on the day the lines cross.
The extreme point is then used as a trigger point at which you should implement the trade. For example, after receiving a buy signal (the +DI rose above the -DI), you should then wait until the security's price rises above the extreme point (the high price on the day that the +DI and -DI lines crossed) before buying. If the price fails to rise above the extreme point, you should continue to hold your short position.""""""""
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Rank: Advanced Member
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Joined: 10/28/2004(UTC)
Posts: 3,111
Location: Perth, Western Australia
Was thanked: 16 time(s) in 16 post(s)
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Jed, Try this: Code:
{Directional Movement Extreme Point Explorer}
prd:=Input("Directional Movement Periods",1,100,14);
x:=PDI(prd)>MDI(prd);
crUp:=x AND Alert(x=0,2);
crDn:=x=0 AND Alert(x<>0,2);
long:=ValueWhen(1,crUp,H);
short:=ValueWhen(1,crDn,L);
{plot}
long;
short;
The value of the 'long' is the price that must be exceeded to enter long; the value of 'short' is the price which the stock must break below to enter short. Hope this helps. wabbit [:D]
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Rank: Member
Groups: Registered, Registered Users
Joined: 12/11/2005(UTC)
Posts: 16
Location: Mexico City
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Thank you very much Wabbit...for your immediate help..I need one more help..how can I discover this with the Metastock explorer.. I mean colA , col B,.......filter etc...
regards
Jed...
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