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Strategies & Market Trends : Gann's cycles -- Ignore unavailable to you. Want to Upgrade?


To: julianne carol grimes who wrote (76)9/4/1999 2:19:00 PM
From: High Grader  Respond to of 191
 
Here is one, known as a Gann pull back indicator.
The Metastock formula is:

If(Ref(H,-2)<Ref(H,-1),If(Ref(H,-1)<H,5,0),If(Ref(L,-2)>Ref(L,-1),If(Ref(L,-1)>L,-5,0),0))

It is a binary indicator moving from 0ne to minus one. Go short when the oscillator peaks at one and long when it bottoms at minus one.

It will give you opportunities to enter on corrections against the main trend.