Hi,
I am having a little difficulty with an AFL formula. I want to
compare one weeks MACD Histogram value to the previous weeks MACD
Histogram value. My code is as follows
TimeFrameSet(inWeekly);
function TrendUpDirection()//Buy
{
local trendUpDirection;
local thisWeeksMACDHist;
local lastWeeksMACDHist;
thisWeeksMACDHist = MACD(12,26)-Signal(12, 26,9);
lastWeeksMACDHist = Ref(MACD(12,26),-1)-Ref(Signal
(12,26,9),-1);
trendUpDirection = IIf (thisWeeksMACDHist < 0 AND
lastWeeksMACDHist < thisWeeksMACDHist, 1,0);
TimeFrameRestore();
return trendUpDirection;
}
Buy = TrendUpDirection() == 1;
A majority of the time this code produces tickers that satisfy my
scan but sometimes scan results do not coincide with the AFL function
above e.g.(1) ticker CAG is a result for scan on 12/7/2007 when in
actual fact its MACD Hist is above 0 and e.g.(2) on the 12/7/2007
LMR.l (London) this weeks MACD Hist is less than 0 but the previous
MACD Hist is greater than this weeks. I am concluding there is
something a miss with the code?
As a second query, ideally I would like to subsitute TimeFrameSet
(inWeekly) with TimeFrameSet(5*inDaily) above for extra backtesting.
But I am correct is saying I am not able to view 5*inDaily bars in a
chart?
Many thanks for your help
