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Registered User
Joined: 12/31/2004
Posts: 163
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Friday's Worden Report had a presentation by a Sir Lowest Low. I added the custom indicators to a chart and liked them so much that I want to see them in SnapSheets. Can you direct me in programming them? Here are the formulas:
QUOTESir Lowest Low
My approach for a buy is first to find the lowest low in the last 20 days. A buy alert is triggered when the price has moved up from this low a distance equal to three times the average daily range. (A buy alert is just that. Other factors must be evaluated before action is taken.)
The PCF to calculate this procedure is:
MinL20 + 3 * ((H - L) + (H1 - L1) + (H2 - L2) + (H3 - L3) + (H4 - L4) + (H5 - L5) + (H6 - L6) + (H7 - L7) + (H8 - L8) + (H9 - L9) + (H10 - L10) + (H11 - L11) + (H12 - L12) + (H13 - L13) + (H14 - L14)) / 15
For a sell signal, I allow less room to move. Since stocks move more quickly down than up, I use 2.5 times the average daily range. The formula would be:
MaxH20 - 2.5 * ((H - L) + (H1 - L1) + (H2 - L2) + (H3 - L3) + (H4 - L4) + (H5 - L5) + (H6 - L6) + (H7 - L7) + (H8 - L8) + (H9 - L9) + (H10 - L10) + (H11 - L11) + (H12 - L12) + (H13 - L13) + (H14 - L14)) / 15
The above formulas can then be plotted as Custom Indicators on the price chart. When setting this up be sure to check "plot using price scale." A buy can be triggered by the close crossing the plot line. Or to be a little safer, let the bar completely separate from the line.
Thanks,
Bill
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Worden Trainer
Joined: 10/1/2004
Posts: 18,819
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I created both plots and attached. Be sure to connect (and scale) them to Price History when you add them.
Look at how the Block Diagrams are constructed... very simple.
Save them in the following folder:
\My Documents\My SnapSheets\Tool Parts\Chart
Once there, you can add it using the ADD STUDY button and choosing MY COMPUTER.
Attachments:
SLL Buy.plot - 4 KB, downloaded 879 time(s).
SLL Sell.plot - 4 KB, downloaded 899 time(s).
- Craig
Here to Help!
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Registered User
Joined: 12/31/2004
Posts: 163
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Very Nice Craig;
These plots make quite a dramatic impact on the Price Chart!
Thank you for programming them and thank Sir Lowest Low for presenting them.
Bill
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Worden Trainer
Joined: 10/1/2004
Posts: 18,819
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Did you check out how I made them? See how I took the logic of SLL's PCF and translated into a Block Diagram?
Any questions?
- Craig
Here to Help!
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Registered User
Joined: 12/31/2004
Posts: 163
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Yes,
You split the PCF into two parts!
1)
You got the High and Low and calculated the difference between them. Then you got a 15 day moving average of the difference and multiplied that by 3.
2)
You also found the minimum Low for the last 20 days.
You then added the average price change to the minimum Low.
It makes since after seeing what you did.
Someday, I'll be able to do it for myself.
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Worden Trainer
Joined: 10/1/2004
Posts: 18,819
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Great... I wanted to be sure you understood my translation.
QUOTESomeday, I'll be able to do it for myself.
That day is closer than you may think!
- Craig
Here to Help!
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