trendscanner
265 posts
msg #80954
- Ignore trendscanner |
10/10/2009 6:16:13 PM
...in the case of the statement --> set{daysCloseUp, days(Close below Close 1 day ago,100)}
I am looking for the number of days SINCE the Close (ie. today's Close) was below the Close 1 day ago !
This will then return the number of consecutive HIGHER CLOSES a stock has had !
Stated another way...the number of days SINCE the stock has had a DOWN Close !
===============================================================================================
I didn't know that was possible in SF! Great to know, that opens up a lot of possiblilites.
|
ossi
2 posts
msg #80964
- Ignore ossi |
10/11/2009 2:06:34 PM
alf,
thank you for the explenation. I was not aware of this feature either. It does indeed make sense now. :-)
Ossi
|
alf44
2,025 posts
msg #80993
- Ignore alf44
modified |
10/12/2009 9:15:26 PM
...just another quick heads up for those keeping score at home...
-----
I added the "Kijun Sen" line to the original filter posted in the 1st post of this thread.
I'm a fan of Ichimoku Charting and I felt like the "Kijun Sen" would be a nice addition and complement to the "Chikou Span" that was already there. (both are key components in Ichimoku)
These 2 components can be read "at-a-glance"...and provide a ton of info about sentiment, support / resistance, price equilibrium and possible entry / exit considerations !!! fwiw
|
choymi8828
47 posts
msg #81024
- Ignore choymi8828 |
10/13/2009 1:20:58 PM
Alf,
This is getting interesting and I did spend sometime trying to understand your filter and results during the weekend.
Questions:
1. How does Kijun Sen work, is it the same way as Chikou ?
2. Does your filter work in any conditions of the broad market from your past experience? (i.e. up, down, sideway)
Thanks again for the sharing.
Michael
|
alf44
2,025 posts
msg #81030
- Ignore alf44
modified |
10/13/2009 4:43:57 PM
Michael...
...you ask :
1. How does Kijun Sen work, is it the same way as Chikou ?
2. Does your filter work in any conditions of the broad market from your past experience? (i.e. up, down, sideway)
-----
The "Kijun Sen" is simply a line that represents an average of the Highest HIGH and the Lowest LOW of the last 26 days.
It is NOT like the "Chikou" as that line is actually just today's Close...displaced backwards 26 days.
Ichimoku charts are made up of 5 lines (these 2 and 3 others) ... and are designed to be used and interpreted using ALL 5 lines ! However, since StockFetcher doesn't offer Ichimoku (even though there ARE some threads here where approximations have been devised) ... I have cherry picked these 2 for my own purposes.
Learn everything you ever wanted to know about Ichimoku...here :
Ichimoku Charting
---
As for the filter...YES...it DOES "work" in UP, DOWN and SIDEWAYS markets ... IF...
...I repeat...IF...you truly understand the filter...understand the 3 patterns...understand the indicators...and understand the Market in which you find yourself !
---
One thing I would say is that ...EVERY pattern (Tail, ODR, ROVdiv) that appears ...is NOT an automatic LONG or SHORT !
Some chart analysis (as well as analysis of the other column info) is required to better determine if you are looking at a "high probability trade"... OR ... a set-up you'd rather pass on !
You must also keep in mind that many of the patterns occur in strongly trending markets...
... and so by definition are (or, CAN be) "counter-trend trade set-ups" ... and as such...contain an inherent risk !!!
It's VERY important to keep that foremost in your mind !!!
Regards,
alf44
|
richo
74 posts
msg #81034
- Ignore richo |
10/13/2009 5:44:34 PM
Where can i find the roc and mycsctrend indicators? I have accts with Zecco and Ameritrade. Can you use this filter in
modified form for the major indexes?
Thanks
Rich
|
alf44
2,025 posts
msg #81043
- Ignore alf44
modified |
10/13/2009 8:53:51 PM
Rich,
There is nothing at all fancy about these 2 indicators...there IS however a great deal of nuance in the indicators that takes some time to begin to fully git a grasp of !
---
The "roc" is a simple 2 period Rate of Change !
---
The "myosctrend" is the signal line (slow line) of a 3/8/13 MACD !
That is...it is the 13 EMA of the difference between a 3 and an 8 period EMA !
---
I chose to define these indicators with "set" statements so that I could control how they would be displayed in the SF Flash charts.
AND...btw, I use these patterns (Tails, ODRs, ROCdiv) with Major Indices all the time with great success...and in particular ETFs of Major Indices !
I even prefer to use these patterns in this way ! fwiw
Regards,
alf44
|
richo
74 posts
msg #81052
- Ignore richo |
10/14/2009 6:52:56 AM
Thanks for your prompt response. After I posted the question it occurred to me that plugging in market etf would be a
simple move to gauge the indexes by looking at qqqq, spy, dia etc.. so thanks for confirming that. I noticed that INTC
turned right at the pivot (20.69) yesterday, a new 52 week high and also in advance of earnings. It looks like this could
ride above the rsi(2) at least briefly. I am thinking of buying if it bounces off the ema(10) given that it is a leader in a sector gaining strength . Additionally the adx(14) is above 20 and rising and +di is above -di. Any thoughts?
Regards,
Rich
|
richo
74 posts
msg #81189
- Ignore richo |
10/16/2009 6:40:37 AM
ALF,
Thanks again for the filter. Could you break this down with an example of an index ETF ? I am particularly interested
in SPY and QQQQ. How do use this for short, intermediate and long term turns/trend changes?I tried plugging in market ETF
and got 245 hits. I would prefer to limit it to index etfs
Thanx,
Rich
|
choymi8828
47 posts
msg #81204
- Ignore choymi8828
modified |
10/16/2009 9:53:27 AM
Alf44,
Thanks for the earlier detail response for me, much appreciated..............:-)
1. Like Richo, it will be very helpful if you could demonstrate with a stock from your filter. Run it through with your selection criteria.
2. Do you use this filter for a 3 to 5 days swing or some other timeframe ?
Thank you for your valuable time.
Michael
|