Does anyone have the following formula to use within MetaStock ADX Mastery by Ken Calhoun

Your link doesn't work.

You could try IMGUR, it's pretty simple and works well for me. Drag from Windows Explorer to browser window, hit UPLOAD, then click on the BBCODE icon to Copy to clipbarod, then Paste put a link in the msg.

Yes, here's the link.

Isn't this similar to the thread of a few weeks ago, ADX Volume Breakout Scan, without the volume criteria?

I "commented" out the volume criteria, and made the other parameters flexible. It doesn't give a lot of signals:

{ _ADX Breakout }
Display:=Input("Display 0=Indicator 1=Signal 2=Season",0,2,1);
Lookback:=Input("New high",1,100,15);
AdxBars:=Input("ADX Periods",2,100,13);
ADXBuy:=Input("ADX Buy",2,100,40);
ADXSell:=Input("ADX Sell",2,100,30);

Cond1:=ADX(AdxBars)>ADXBuy;
Cond2:=If(Lookback=0,1,H>Ref(HHV(H,Lookback),-1));
{Cond3:=V>Ref(V,-1)*1.3 OR V<Ref(V,-1)*0.7;}
Cond4:=PDI(AdxBars)>MDI(AdxBars);

Buy:=Cond1*Cond2{*Cond3}*Cond4;
Sell:=ADX(AdxBars)<ADXSell;

{Filter repeat signal, 1=Buy -1=Sell}
init:=Cum(IsDefined(Buy+Sell))=1;
Season:=ValueWhen(1,Buy-Sell<>0 OR init,Buy)*2-1;
Signal:=If(Season<>Ref(Season,-1),Season,0);

{ Display }
If(Display=1,Signal,If(Display=2,Season,ADX(AdxBars)));

Frank,

>>Thank You is this for the indicator ? or Exploration?

This is an indicator. For Explorations, you can either:

1. Use FmlVar("ADX Breakout","Signal")=1 for BUY and FmlVar("ADX Breakout","Signal")=-1 for SELL.

...OR...

2. Copy & Paste the code, then change all the lines with INPUT() to "hardcode", like this:

AdxBars:=Input("ADX Periods",2,100,13);

...becomes...

AdxBars:=13;


>>Do you have any opinion on the ETS trading system

Have never used it.


>>any other plugins that are worth it for intrday day and swing trading?

I only trade EOD. So, if your swing trading is intraday, I can't say much.

The stuff Equis sells are mostly covered by a 30-day return, but my concern would be testing them. The Metastock System Tester does NOT give overall stats (portfolio testing), it just "basket tests" everything -- there's no way to compare one system to another. Also, if you "optimize" -- unless done right, reserving data for testing out-of-sample -- you're just "curve-fitting", a sure way to lose.

I'd use TradeSim for testing, instead -- read "The Search for the Holy Grail Trading System". Note that it does NOT come with any ready-to-trade systems.

If you want a testing tool with a ready-to-trade system -- something to use immediately -- download VSTfree, the Visual Strategy Trader. There is a customizable addon at the user-run blog. Its "big brother", VSTpro, adds stops, robust optimization, templates & indicators for several dozen trading strategies, a private support forum, etc.

Both are pricey, and both have a learning curve.

FWIW, there's only one book I've found dedicated to evaluating Metastock Indicators, "The Encyclopedia of Technical Market Indicators". The author told me he used the "walk-forward" method in the System Tester, on the DJ Indices for testing in his research. Given the huge size of the book, I cannot imagine how much time & effort it took to write.

Geez, I sound like an advertisement...