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Breakout Signals for Metastock
Rating:
5 / 5 (Votes 1)
Tags:
metastock
Long/Short breakout system signals (similar to the Original Turtles Trading Rules) & Exploration.
By Jose Silva
Indicator / Formula
Copy & Paste Friendly
{ Plots breakout long/short signals }
{ http://www.metastocktools.com }
{ With thanks to Roy Larsen for Init idea }
pds1:=Input("HHV (long) breakout periods", 1,252,21);
pds2:=Input("LLV (short) breakout periods", 1,252,10);
display:=Input("display: signals=1, in-trade binary=2",1,2,1);
x:=Input("use Open=1 High=2 Low=3 Close=4 Volume=5 P=6",1,6,4);
delay:=Input("Entry and Exit delay",0,3,0);
x:=If(x=1,O,If(x=2,H,If(x=3,L,If(x=5,V,If(x=6,P,C)))));
In:=x>Ref(HHV(x,pds1),-1);
Out:=x<Ref(LLV(x,pds2),-1);
Init:=Cum(In+Out>-1)=1;
InInit:=Cum(In)=1;
Flag:=BarsSince(Init OR In) < BarsSince(Init OR Out)+InInit;
In1:=Cum(Cum(In))=1;
Out1:=Cum(Cum(Out))=1;
If(display=1,Ref(Cum(Cum(In))=1,-delay),0);
If(display=1,-Ref(Out1 AND BarsSince(In1)>=BarsSince(Out1),-delay),0);
If(display=1,Ref((InInit AND Alert(InInit=0,2)
OR Flag AND Alert(Flag=0,2)) - (Flag=0 AND Alert(Flag,2)),-delay),Flag)0 comments
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