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