The Lowest Low Value Function will return the lowest value of
the selected `data array' from a specified number of periods. For example,
assume we wanted to identify the lowest value of the volume in the last 15
periods. To do this we would simply code a lowest low value function.
SYNTAX LLV(Data Array, Periods)
Data Array _ The lowest value of this data array will be
returned, from the specified number of periods.
Periods _ How many periods we wish MetaStock to refer back to
when finding the lowest low value of the data array.
The following formula identifies the lowest value that the
closing price has reached in the last 40 periods:
In the formula above:
Data Array = C
Periods = 40
A more useful application of this example would be:
This formula identifies the lowest closing price the security
has reached in the last 40 periods. It then checks to see whether the present
closing price is equal to that. In other words, we're asking MetaStock whether
or not the security has just achieved a new 40 period closing price low.
Due to the versatility of MetaStock many of the formulas we
use can be re-written, in other ways. For example, perhaps a better way to check
whether a security has made a new 40 period low could be:
This formula will now check to see if today's close is less
than the lowest low value in the last 40 periods, prior to the present period
(denoted by `Ref(LLV(L,40),-1)'). Please refer to the Reference function (Ref)
on page 75 for an explanation of its use in this formula.
article is a snippet from the
MetaStock Programming Study Guide...
The Simple Secret to Make Metastock Easy & Identify Profitable
copyright 2007 www.meta-formula.com