The Lowest Low Value Bars Ago function is a variation on the
Lowest Bars Ago function, in that it still returns the number of periods that
have passed since the lowest value in the selected `data array', however
MetaStock will only check back to the number of `periods' specified. For
example, assume we have two years of history loaded in our chart. If we were to
ask MetaStock for the lowest low value bars ago with reference to the close,
only using 40 periods, it will only search these 40 periods for the lowest
closing value. It will then count the number of periods since that occurred and
return this value.
SYNTAX LLVBars(Data Array, Periods)
Data Array _ The lowest value of this data array will be
found in the chart, within the specified number of periods.
Periods _ This is how many periods you wish MetaStock to
reference when finding the chart's lowest value of the data array.
The following formula identifies the lowest value that the
volume has reached in the last 40 periods. The number of periods since this
occurred is then returned:
In the formula above:
Data Array = V
Periods = 40
A more useful application of this example would be:
This formula identifies the number of bars that have passed
since the lowest volume value, within the last 40 periods, was recorded.
Metastock then checks whether or not this value is greater than 20 (denoted by
Construct formulas for the following:
1. Return the number of periods that have passed since the
security had its lowest volume in the last 75 periods:
2. Ensure that the lowest low of the last 20 periods did not
occur in the last 12 periods:
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