Onno's Binary Wave Formula for: MetaStock indicator

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Added: July 23, 2007

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Tags: MetaStock, indicator

Onno Goedknegt wrote:

Ton, Gerhard, Guy and Martin, thanks for your help on this topic sofar...
But depite your help I didn't succeed in getting a binary wave.

Did you get one, Simon?

I would like to put a trading system into the INDICATOR BUILDER and hope to see a BINARY WAVE...

For example (trading system):
ENTER LONG: RSI(14)<30 OR Mo(12)<90
ENTER SHORT: RSI(14)>70 OR Mo(12)>110

So I would like to put this into the INDICATOR BUILDER to get a BINARY WAVE. When this trading system generates a BUY signal the BINARY WAVE should jump to +1 (and stay there...) and only go back to -1 after getting a SELL signal (and stay there...).

I hope you can help me out.
Thanks in advance for your help!

Cheers,
Onno

onno,

give this a try.

Onno's Binary Wave

signal:=If(RSI(14)<30 OR Mo(12)<90,1,If(RSI(14)>70
OR Mo(12)>110,-1,0));
ValueWhen(1,signal<>0,signal);

{If(RSI(14)<30 OR Mo(12)<90,.5,0);
If(RSI(14)>70 OR Mo(12)>110,-.5,0);}

the last two if statements(in french brackets) plot smaller binarys on the same plot.i included them because nested if statements favor the first statement. so if rsi(14)<30 and mo(12)>110 you would still get a buy signal.

good luck,al

[9435]

Re: can metastock do flip flops?

. To: metastock@xxxxxxxxxxxxx
. Subject: Re: can metastock do flip flops?
. From: Martin Haesler <mhaesler@xxxxxxxxxxxxxx>
. Date: Mon, 12 Oct 1998 14:40:04 +0930
. References: <199810101906.VAA20112@xxxxxxxxxxxxxxx>
. Reply-To: metastock@xxxxxxxxxxxxx
. Sender: owner-metastock@xxxxxxxxxxxxx

Onno ...

I have built the indicator you require and have attached a .gif to display the result.
The binary wave I believe is as you require it, and I have built a system test to use it.
You could of course also use the expert to colour your bars as long and short and/or use the expert symbols to flag your buy and sell points.

Onno's Binary Wave Indicator
long:=If(RSI(14)<30 OR Mo(12)<90,1,
If(RSI(14)>70 OR Mo(12)>110,-1,PREVIOUS));
long;

m036 Onno's Binary Wave System Test
enter long/close short

FmlVar("m036 Onno's Binary Wave","long")= -1

close long/enter short

FmlVar("m036 Onno's Binary Wave","long")= +1

Applying the strategy to the Australian SPI over the last 15 years, is not encouraging.
Psychologically I could not handle the results which show a significant loss after 5 years, very most profit after 10 years, and encouraging results only during the bull run of recent years.

Best regards ... Martin

[9454]

Code:

Source: http://purebytes.com/archives/metastock/

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