# Inside Day (Equis) Breakout Metastock Formula

#### Debraj

##### Member
bar:=Inside()

AND (Ref(Inside(),-1)=Inside())=false;

el:=Cross(C,ValueWhen(1,bar,Ref(H,-1)));

el

AND BarsSince(bar)>2

AND Ref(BarsSince(Inside()=false)>BarsSince(bar),-1)

#### raadiyah

##### Member
Sir
Can u explain how we use ur formula in metastock and what will the results how us
Raadiyah

#### Debraj

##### Member
Hi raadiyah,

Please don't call me "sir". I am still very much in the learning stage and have a long way to go.

First here is an updated version of the indicator which lets you choose the minimum number of inside bars (as defined by equis):

insidebars:= Input("Minimum Number of Inside bars" ,1 , 100, 3) ;

bar:=Inside()

AND Ref(Inside(),-1)=Inside()=false ;

el:=Cross(C,ValueWhen(1,bar,Ref(H,-1)));

el

AND BarsSince(bar)>=insidebars

AND Ref(BarsSince(Inside()=false)>BarsSince(bar),-1)

In Metastock create a new expert named "Inside Day (Equis)". In the Highlights section put: inside(). In Symbols create a symbol with the above formula. Now you will be able to see that the formula plots a buy signal when the price closes above the high of the range bar. A range bar is a wide range bar followed by one or more inside bars.

I have observed that this signal is more effective 1) at the end of a downtrend and 2) if the inside bars are more or less on a level.

The initial stoploss should be placed lower than the low of the range bar.

Good luck trading.

Debraj

#### moneypick

##### Member
Dear Debraj,

Can you please suggest me which exploration formula is good for a small
investor to scan its watchlist in Metastock software. I am confuse to see lots of formula.

If I enter in the maket at present level what strategy I will follow.

Thanks

#### Debraj

##### Member
Hi moneypick,

In my personal trading I do not use any of the canned metastock explorations. So I cannot suggest which ones work.

As for your second question,I am afraid I am not qualified to give that sort of trading advice. As I have said before, I am still very much a learner. Perhaps senior members with more trading experience would help.

Sorry I cannot be of more help to you.

Good luck trading.

Debraj

#### AJAY

##### Active Member
hi moneypick,
what you asked is respected. but before that what is your profile is more important. are you a full time trader? do you follow charts? is it only something secondary? all these things matter to enter in the markets.
what i suggest is that anything and everything works provided you have an insight to see what is the logic behind that system. here more important is continuation of the trade. if the trend reverses unbiased you should reverse the trade. if it fails again you should reverse it. remember the sharks play big game in the markets to get the people out to avoid noise in the stock to have a smooth sail on the move. only required thing to understand is that the rending indicators failing repeatedly means a big move is in the offing. be watchful on that issue and take trades on break outs.
ajay

#### nn0023

##### Member
Hi Debraj
I Have No Idea About Tech. Analysis Of Stocks. So Can U Help Me By Giving Me A Link Or Name A Book(suitable For Beginers). Also Give A Link Of Software (with Which I Can Tally My Reading.)

#### moneypick

##### Member
Dear Ajay,

Thanks for your valuable reply. I am short term trader. I am not in the market since december 2003 due to huge loss in SOUNDCRAFT INDUSTRIES.
In this period I read some tutorial reg. RSI, W%, CCI & Mov. Aver. I try to
find some strategy which is tested by a successful investor.

Thanks,

#### Debraj

##### Member
moneypick said:
Dear Ajay,

Thanks for your valuable reply. I am short term trader. I am not in the market since december 2003 due to huge loss in SOUNDCRAFT INDUSTRIES.
In this period I read some tutorial reg. RSI, W%, CCI & Mov. Aver. I try to
find some strategy which is tested by a successful investor.

Thanks,
Hi moneypick,

A strategy that I have found to be reliable in my own trading is "Three Bar Net Line". It is outlined in the May 2002 issue of the Active Trader Magazine which can be downloaded here:

http://www.activetradermag.com/sampleissues.htm

Scroll down to Powertool Strategy.

If I were you, I would papertrade this strategy for a while before applying it. I would also strictly adhere to my stoploss and would not put all my eggs in one basket.

Good luck trading.

Debraj

#### AJAY

##### Active Member
hi moneypick,
i appreciate your spirits. money is there in the makets. unfortunately, the knack of picking it is only lacking. it is not only the seen here. it is the same seen accross the globe.
what i request you is to work more on charts. do lots of case studies for the tools by yourself. please keep in mind that opportunities will always be there in the markets. so no hurry. once you feel you are thorough and fit technically and psychologically to take up trades then please enter the markets. please have your insight by yourself. don't follow any one for the reason that he/she is successful. but once you are thorough in your study and psychological feel, the you should feel that opportunity loas is always lost. till then keep enjoying watching markets.
one more important factor is money management factor. please keep deals under control. an idle money is not a pain anywhere.
it is a complex mechanism till we get used to it and will bw a smooth sail once we get used to.

if you still want to participate in the markets in a small way, i can suggest you to explore equis price volume break outs and track the stocks for the coming 2-3 days or even more. take trades in small sizes in then if the stock is active on the next day. if it ia at alltime high it will be further better. but be watchful. traps can be around. so take quick losses and wait for profits to grow. it is something which can be suitable to you. you may follow daytrading mechanism also in these stocks.
all the very best
ajay

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