This is a trading item or a component that was created using QuantShare by one of our members.
This item can be downloaded and used by QuantShare Trading Software.
Trading items are of different types. There are data downloaders, trading indicators, trading systems, watchlists, composites/indices...
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This indicator checks a specific condition using different time frames. First of all, it will check if your condition is met in the daily period. After that it will verify the condition using weekly period then monthly period.
For example, if you type:
a = IsMet3("rsi(14) > 80");
The variable "a" will get a value of "1" (TRUE) if the RSI indicator is above the 80 level in each of these periods: daily, weekly and monthly.
The variable "a" will get a value of "0" (FALSE) if the RSI indicator is below or equal to the 80 level in any of these periods: daily, weekly and monthly.
Here is another example:
buy = IsMet3("close > sma(250)");
When used in a trading system, this rule instructs QuantShare to enter long when the price is above the 250-bar simple moving average in the daily, weekly and monthly periods.
And another one:
buy = IsMet3("hhv(cross(close, sma(250)), 5)");
Enters long if the price crossed above the 250-bar moving average at least once during the last previous 5 bars. The crossover must have occurred in the daily, weekly and monthly periods.
The crossover is detected using the "cross" function. The "hhv" (highest value in previous n-bars) returns "1" if the input was equal to "1" during the previous 5 bars (The crossover occurred at least once during the previous 5 bars).
Note: Do not forget the double quotes when entering your condition in the "IsMet3" function.
Trading financial instruments, including foreign exchange on margin, carries a high level of risk and is not suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in financial instruments or foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with trading and seek advice from an independent financial advisor if you have any doubts.
