four
5,087 posts
msg #90015
- Ignore four |
3/20/2010 2:54:02 PM
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four
5,087 posts
msg #99397
- Ignore four |
2/25/2011 11:30:26 PM
modified above ...
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Mactheriverrat
3,153 posts
msg #99400
- Ignore Mactheriverrat |
2/26/2011 12:27:04 AM
Hey Four
Can you explain the Buy points and stop loss points and what they are based on?
Thanks
Mactheriverrat
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four
5,087 posts
msg #99411
- Ignore four
modified |
2/26/2011 10:38:53 PM
Mactheriverrat,
The reasoning behind both calculations is to pay attention to the repeating pattern: stocks going up make new highs and stocks going down make new lows.
set{var1, day point range / 5}
set{buy, max(close,open)+Var1}
draw buy on plot close
add column buy
Usually I take the HIGH + .03. However, here I am adding a percentage of the day's range to the higher value of the day's close or open. I want to reduce entries that are false. Trial and Error went into picking the denominator of 5. Personal preference.
set{vr1, low 1 day ago}
set{vr2, low}
set{low1, min(vr1,vr2)}
draw low1 on plot close
add column low1 {stop loss}
I compare the low today and the low from yesterday and use the lower value.
HTH
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Mactheriverrat
3,153 posts
msg #99413
- Ignore Mactheriverrat |
2/26/2011 11:27:29 PM
Thanks four!
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