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Point of Balance

System for: MetaStock


 

 

Views:  1732

Added: March 04, 2007
 
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Tags: MetaStock, system
 
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From Terms To Technical Tools In Walter Downs' article "From Terms To Technical Tools" he introduces the Point of Balance Oscillator, two conditions to color bars and two system tests. All of these canbe created quite easily in MetaStock 6.5.
To test the two systems discussed in the article, choose SystemTesterfrom the Tools menu and enter both of the following systems:

 

 



Code:

Bull and Bear Fear System Test

Enter Long:

n := 12 {Time periods};
BullFear := (HHV(HIGH,n) - LLV(HIGH,n))/2 + LLV(HIGH,n);
Cross(CLOSE,BullFear)


Enter Short:

n := 12 {Time periods};
BearFear := (HHV(LOW,n) - LLV(LOW,n))/2 + LLV(LOW,n);
Cross(BearFear,CLOSE)






Four-Bar Fear System Test

Enter Long:

n := 12 {Time periods};
BullFear := (HHV(HIGH,n) - LLV(HIGH,n))/2 + LLV(HIGH,n);
BearFear := (HHV(LOW,n) - LLV(LOW,n))/2 + LLV(LOW,n);
Cross(CLOSE,BullFear) AND Ref(Sum(CLOSE < BullFear AND CLOSE> BearFear,4),-1)= 4


Close Long:

LOW < Ref(LLV(LOW,3),-1)


Enter Short:

n := 12 {Time periods};
BullFear := (HHV(HIGH,n) - LLV(HIGH,n))/2 + LLV(HIGH,n);
BearFear := (HHV(LOW,n) - LLV(LOW,n))/2 + LLV(LOW,n);
Cross(BearFear,CLOSE) AND Ref(Sum(CLOSE < BullFear AND CLOSE> BearFear,4),-1)= 4


Close Short:

HIGH > Ref(HHV(HIGH,3),-1)


 





Source: http://www.equis.com

 

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