With respect to the algorithm I presented in my article for the
Technical Analysis of Stocks & Commodities magazine
(November 2006 issue): "Building Automatic Trendlines":

You can go to my commercial website:

http://www.daedalussoft.com

click the "Free Section" link and download the "GSautoTL.zip" file.
The file contains an add-on for automatic construction of trendlines in Metastock
(version 9 and above) along with a help tutorial (can be viewed with Internet Explorer).

The add-on is freeware.

Regards,
Giorgos E. Siligardos

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Giorgos E. Siligardos
http://www.daedalussoft.com

Hi Giorgos,

This web site is down.

Regards

WT

 

Giorgos, just looking at the SI/GS indicators and custom DLL function.

They seem very similar to the ZigZag function in that they definitely use hindsight to find peaks and troughs, so this tool is of very limited value for either backtesting or generating valid trading signals.


jose '-)

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MetaStockTools.com

YES. The SI indicator is a variation of the ZigZag function but not identical (as mentioned in my article) and YES, this tool is of limited value for either backtesting or generating valid trading signals but that is not its purpose.

The aim of my article (upon which this add-on is based) is to make pubicly available a step-by-step algorithm for automatic construction of trendlines (there are some commercial software that do just that, but now an algorithm  is available for free) not the presentation of a trading system.  The add-on simply implements this algorithm in Metastock and serves as a quick guide for trendline indentification (again, it is not a trading system or something similar). It is not of no value however due to a couple of reasons. First, novices will find an easy way to identify active proper trendlines (the terms "active trendline" and  "proper trendline" are defined in my article) and second, an exploration can be constructed (using the functions of the add-on) which can show at a glance which securities broke a trendline, or are very close to a trendline.

I must mention that my algorithm is the first block of a somehow complex technique for identification of short, medium and long term trends based completely upon automatic trendlines. I have not decided yet if I will publish an article about this technique however.

Regards,

Giorgos E. Siligardos
http://www.daedalussoft.com

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Giorgos E. Siligardos
http://www.daedalussoft.com

Thanks for developing and sharing those plugins, Giorgos, and for making the effort to do the animated introductory walkthroughs as well.

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When you see that in order to produce, you need to obtain permission from men who produce nothing - when you see that money is flowing to those who deal, not in goods, but in favors - when you see that men get richer by graft and by pull than by work, and your laws don't protect you against them, but protect them against you - when you see corruption being rewarded and honesty becoming a self-sacrifice - you may know that your society is doomed. - Ayn Rand

I tried this and the SI would plot but the TL would not... any thoughts?

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"The dogs may bark, but the caravan rolls on...."

Guess not ;)

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"The dogs may bark, but the caravan rolls on...."

Those with PowerPivots might try this:

PPivot:=Input("P 1=minor 2=intermediate 3=major 4=primary",1,4,2);
TPivot:=Input("T -1=minor -2=intermediate -3=major -4=primary",-4,-
1,-2);
Mlt:=Input("ATR multiplier",0,10,0);
FTrough := LastValue( ExtFml("Powerpivots.NthPivotPrice",Tpivot,0,1));
STrough := LastValue( ExtFml("Powerpivots.NthPivotPrice",Tpivot,1,1));
DeltaVerticalU := FTrough - STrough;
DeltaHorizontalU :=
LastValue(ExtFml("Powerpivots.BarsSinceNthPivot",Tpivot,1)) -
LastValue(ExtFml("Powerpivots.BarsSinceNthPivot",Tpivot,0));
DeltaPerBarU := DeltaVerticalU / DeltaHorizontalU;
BarNoSecondTrough := LastValue(
Cum(1) - ExtFml("Powerpivots.BarsSinceNthPivot",Tpivot,1));
TrendD := If(Cum(1) < BarNoSecondTrough,
BarsSince(Cum(1) >= BarNoSecondTrough),
STrough +
(DeltaPerBarU * (Cum(1) - BarNoSecondTrough)));
Up:=If(FTrough >= STrough,
TrendD,
BarsSince(FTrough >= STrough));
FPeak := LastValue( ExtFml("Powerpivots.NthPivotPrice",Ppivot,0,1));
SPeak := LastValue( ExtFml("Powerpivots.NthPivotPrice",Ppivot,1,1));
DeltaVerticalD := FPeak - SPeak;
DeltaHorizontalD :=
LastValue(ExtFml("Powerpivots.BarsSinceNthPivot",Ppivot,1)) -
LastValue(ExtFml("Powerpivots.BarsSinceNthPivot",Ppivot,0));
DeltaPerBarD := DeltaVerticalD / DeltaHorizontalD;
BarNoSecondPeak := LastValue(
Cum(1) - ExtFml("Powerpivots.BarsSinceNthPivot",Ppivot,1));
TrendU := If(Cum(1) < BarNoSecondPeak,
BarsSince(Cum(1) >= BarNoSecondPeak),
SPeak +
(DeltaPerBarD * (Cum(1) - BarNoSecondPeak)));
Dn:=If(FPeak <= SPeak,
TrendU,
BarsSince(FPeak <= SPeak));
X:=If(PPivot=1,ATR(5),If(PPivot=2,ATR(20),ATR(40)));
Up+mlt*x;Up-Mlt*x;Dn+mlt*x;Dn-Mlt*x;Up;Dn

do not remember where I got this from. I added an allowance for atr margins above and below the trend lines.

I have set up a live video feed to my trendlines, it is at: http://www.dualj.com/trendlines.aspx