Monthly Breakout

This system test requires several settings be made in addition to the formula. It can only be used in MetaStock 8.0 or latter. To create this system:

• Select the Enhanced System tester from the Tools menu
• Click New
• Enter the name of the system
• Select the Buy Order tab and enter the following formula:
  
  new:=roc(month(),1,$)<>0;H>ref(highestsince(7,new,H),-1)
  
  
• Set the order type to Stop Limit
• Click the italics f to the right of the space for the Limit or Stop Price
• In the window that appears, enter the following formula:
  
  new:=roc(month(),1,$)<>0;ref(highestsince(7,new,H),-1)
  
  
• Set the enter size dropdown to "Number of Units"
• Enter a 1 in the space to the right of the entry size
• Set the expiration to "Good for Day"
• Select the Sell order tab and enter this formula:
  
  new:=roc(month(),1,$)<>0;L<ref(lowestsince(7,new,L),-1)
  
  
• Set the order type to Stop Limit
• Click the italics f to the right of the space for the Limit or Stop Price
• In the window that appears, enter the following formula:
  
  new:=roc(month(),1,$)<>0;ref(lowestsince(7,new,L),-1)
  
  
• Set the expiration to "Good for Day"