StockFetcher Forums · Filter Exchange · Average volume conflicts-- IMPORTANT READ<< >>Post Follow-up
calhawk01
135 posts
msg #86082
Ignore calhawk01
1/12/2010 9:20:28 PM

I daily have to go through about 300 charts after the market closes. I am tird of running into charts that are just simply...illiquid. There is no activity on the chart/ or the # of trades occurring are small. The stocks i screen are from .01 and 2$. So if i look for stocks that have a average volume > 100,000 -- i am being biased against stocks that are over 1$. Because the screener will give me a stock that is priced at .01 x 100,000 shares traded = $1000 and $1 x 100,000 shares traded is $100,000.

So the average volume > "X" isn't the best way to look for stocks in my opinion because the screener will not choose the $1 stock that has 99,999 shares traded but has the PERFECT setup that you seek.

Also, i don't want to find a stock valued at .01 with on a $1000 traded. I want a penny stock that has at least $10,000 being traded.
---------------
My solution: I use this as my universal filter:
Fetcher[set {dollars, volume multiplied close} add column dollars and sort column 5 descending and dollars above 10000 ]



It looks for stocks that have at least $10,000 worth of shares traded. The filter gets rid of lots of noise.

BUT,
The problem i am still facing is that it doesn't seek the amount of TRADES that are occurring. It will still find stocks that are illiquid in a sense that "X" stock will have ONE trade worth $10,000 everyday for two months.

I don't want to have to go through 300 charts and 100 stocks are illiquid. I think all of us technical analysis guys would agree. Can we put our heads together to come up with a solution?

calhawk01
135 posts
msg #86084
Ignore calhawk01
1/12/2010 9:28:30 PM

Maybe if we multiply the close by average volume > $10,000 it won't give us inactive stocks?

Fetcher[set {dollars, Average Volume(65) multiplied close} add column dollars and sort column 5 descending and dollars above 10000 and close between .01 and 2 ]



calhawk01
135 posts
msg #86085
Ignore calhawk01
1/12/2010 9:48:54 PM

Ok, these two filters seem to be deleting a lot of noise. Any idea how to combine the below filters? Because if you use them both at the same time -- there seems to be a problem.

How can we combine the below filters into 1 filter?
1. set {dollars, volume multiplied close} add column dollars and sort column 5 descending and dollars above 10000
2. set {dollars, Average Volume(65) multiplied close} add column dollars and sort column 5 descending and dollars above 10000

calhawk01
135 posts
msg #86086
Ignore calhawk01
1/12/2010 9:55:55 PM

Fetcher[Close is between .01 and 2 and avgvol(65) multiplied by close is above 10000 and volume multiplied by close is above 10000 ]



chetron
2,817 posts
msg #86089
Ignore chetron
1/12/2010 10:25:33 PM

if put your position size into the filter and then use that value < 1% of avgvol would get rid of some.

trendscanner
265 posts
msg #86198
Ignore trendscanner
1/13/2010 9:31:53 PM

If you add this line to the filter

count(volume < 1, 100) < 0.5

it eliminates stocks that had 0 volume days at least once during the last 100 days

that might help eliminate some illiquid stocks

Of you could raise the volume to whatever minimum value you think appropriate (e.g., 200, 500, etc.)

calhawk01
135 posts
msg #86224
Ignore calhawk01
1/14/2010 10:34:09 AM

trend scanner, thanks a lot. it works for me.

StockFetcher Forums · Filter Exchange · Average volume conflicts-- IMPORTANT READ<< >>Post Follow-up

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