Countback line users wanted - Aussie Stock Forums

# Thread: Countback line users wanted

1. ## Countback line users wanted

Hi all,

I'm after someone (or three) who uses countback lines to trade and who uses Metastock.

The code for a countback line is to say the least tricky to code, and the only solution I have found on the 'net so far doesn't work all that well. I think I've managed to pretty much nail it, but would greatly appreciate a couple of beta testers before I post the code.

(All I've coded so far is the trailing exit).

2. ## Re: Countback line users wanted

Originally Posted by MichaelD
Hi all,

I'm after someone (or three) who uses countback lines to trade and who uses Metastock.

The code for a countback line is to say the least tricky to code, and the only solution I have found on the 'net so far doesn't work all that well. I think I've managed to pretty much nail it, but would greatly appreciate a couple of beta testers before I post the code.

(All I've coded so far is the trailing exit).
I can help MD, I've got MS 7.2 that I don't use, so useful for beta testing.

Also have some CB code *which might be the same as you've found elsewhere.

3. ## Re: Countback line users wanted

Don't know if this of any use ?
It's from Leon Wilson's " The Next Step " page 235

Referring to CountBack & Reversal Set-Ups

The following formula will identify the lowest low of a bullish reversal and plot it at the point of conclusion through the application of the MetaStock expert.

(Ref(HIGH,-2)>Ref(HIGH,-1)AND Ref(HIGH,-1)>HIGH)AND
(Ref(LOW,-2)>Ref(LOW,-1)AND Ref(LOW,-1)>LOW)AND
(Ref(HIGH,+2)>Ref(HIGH,+1)AND Ref(HIGH,+1)>HIGH)AND
(Ref(LOW,+2)>Ref(LOW,+1)AND Ref(LOW,+1)>LOW);

The MetaStock exploration formula for bullish short term reversals :

(Ref(LOW,-4)>Ref(LOW,-3)AND Ref(LOW,-3)>Ref(LOW,-2)AND
(Ref(LOW,-2)<Ref(LOW,-1)AND Ref(LOW,-1)<LOW)AND
(Ref(HIGH,-4)>Ref(HIGH,-3)AND rEF(HIGH,-3)>Ref(HIGH,-2)AND
(Ref(HIGH,-2)<Ref(HIGH,-1)AND Ref(HIGH,-1)<HIGH)

PHEEEW !!!

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