The above system uses a function for the Sell condition that is only available in MetaStock version 8.0 or later. Select the Sell Order tab and enter the following formula:.Select the Buy Order tab and enter the following formula:.LLV(C,5)>Ref(HHV(C,20),-20) AND Sum( C the Enhanced System Tester. Click in the larger window and type in the formula:. Select the Filter, in the middle on the right-hand side.Click New to open the Exploration Editor.An exploration to search for these signals can be created in MetaStock with the following steps: Steve Palmquist’s article, “Trading Moving Average Pullbacks,” introduces his MAPS system. Jby indiansharetradersĬategories: Metastock formulae Trading moving average pullbacks system You will be able to change the formula in the Script Editor to your preference, such as a 2 bar swing for a retracement between 36% and 40%. Save the attached file to the Documents/Market Analyst 7/Scans folder to have the scan available in your Scanning Manager. Using the Price Retracement tool, in this example you can see that the current end of swing down is within the 5% window: GS1 = GANNSWING(SWINGCOUNT=3,METHOD=USE NEXT BAR) The formula for a retracement from a high is as follows, based on a 3 bar Gann Swing and ‘Use Next Bar’ methodology. Note that as retracements will very rarely be exactly 50% the results will show a 5% tolerance between 47.5% and 52.5%. Using a Gann Swing High and Low to determine the price range, the attached file can be used to scan for a 50% retracement from a high or low.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. Archives
March 2023
Categories |