We all understand the the basic rules of trading, which includes trading with the trend. While most traders understand this theory identifying the creation of a new trend is not always that easy.
This metastock formula helps identify the early sign of a new trend over a 10 day period, from reviewing the lows within the periods by:-
Simple definition - Today low greater than yesterday, today low greater than 4 day low moving average, and lowest low value for 10 days is below the lowest low value within 4 days.
This metastock formula helps identify the early sign of a new trend over a 10 day period, from reviewing the lows within the periods by:-
Simple definition - Today low greater than yesterday, today low greater than 4 day low moving average, and lowest low value for 10 days is below the lowest low value within 4 days.
Metastock Expert ready to import
LOW 10 Day Trend
Mx:=Mov(L,4,S);
L > Ref(L,-1) AND L>Mx AND
Ref(L,-1) < Ref(Mx,-1) AND
LLV(L,4 ) > LLV(L,10 ) AND
RSI(14)<50
HIGH 10 Day Trend
Mx:=Mov(H,4,S);
H < Ref(H,-1) AND H < Mx AND
Ref(H,-1) > Ref(Mx,-1) AND
HHV(H,4 ) < HHV(H,10)
Mx:=Mov(L,4,S);
L > Ref(L,-1) AND L>Mx AND
Ref(L,-1) < Ref(Mx,-1) AND
LLV(L,4 ) > LLV(L,10 ) AND
RSI(14)<50
HIGH 10 Day Trend
Mx:=Mov(H,4,S);
H < Ref(H,-1) AND H < Mx AND
Ref(H,-1) > Ref(Mx,-1) AND
HHV(H,4 ) < HHV(H,10)
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