Trading Strategies from Active Trader Magazine

One Night Stand

MetaStock 8.0 or latter is required to specify the entry price for this system. To create this system:

• Select the Enhanced System tester from the Tools menu
• Click New
• Enter the name of the system
• Select the Buy Order tab and enter the following formula:
  
  dayofweek()=5 and ref(mov(c,10,s)>mov(c,40,s),-1)
  
  
• Set the order type to Stop Limit
• Enter the following formula for the Limit or Stop Price:
  
  ref(hhv(h,4),-1)+.01
  
  
• Set the enter size dropdown to "number of units"
• Enter a 1 in the space to the right of the entry size
• Select the Sell Order tab and enter this formula:
  
  Open
  
  
• Set the order type to "Stop Limit"
• Enter the following formula for the Limit or Stop Price:
  
  Open
  
  
• Select the Sell Short Order tab and enter the following formula:
  
  dayofweek()=5 and ref(mov(c,10,s)<mov(c,40,s),-1)
  
  
• Set the order type to "Stop Limit"
• Enter the following formula for the Limit or Stop Price:
  
  ref(LLV(L,4),-1)-.01
  
  
• Set the enter size dropdown to "number of units"
• Enter a 1 in the space to the right of the entry size
• Select the Buy to Cover Order tab and enter this formula:
  
  Open
  
  
• Set the order type to Stop Limit
• Enter the following formula for the Limit or Stop Price:
  
  Open