Master the lowest low value function.
The Lowest Low Value Function will return the lowest value of the selected ‘data array’ from a specified number of periods. For example, assume we wanted to identify the lowest value of the volume in the last 15 periods. To do this we would simply code a lowest low value function in the Metastock System.
SYNTAX LLV(Data Array, Periods)
Data Array – The lowest value of this data array will be returned, from the specified number of periods. Periods – How many periods we wish MetaStock to refer back to when finding the lowest low value of the data array.
EXAMPLE
The following formula identifies the lowest value that the closing price has reached in the last 40 periods: LLV(C,40)
In the formula above: Data Array = C Periods = 40
APPLICATION
A more useful application of this example would be: C= LLV(C,40)
This formula identifies the lowest closing price the security has reached in the last 40 periods. It then checks to see whether the present closing price is equal to that. In other words, we’re asking MetaStock whether or not the security has just achieved a new 40 period closing price low.
Due to the versatility of MetaStock many of the formulas we use can be re-written, in other ways. For example, perhaps a better way to check whether a security has made a new 40 period low could be:
C<Ref(LLV(L,40),-1)
This lowest low value function formula in the Free Metastock download will now check to see if today’s close is less than the lowest low value in the last 40 periods, prior to the present period (denoted by ‘Ref(LLV(L,40),-1)’).
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