StockFetcher Forums · Filter Exchange · Filter based solely on price - no indicators used<< 1 2 3 >>Post Follow-up
durgin
60 posts
msg #83231
Ignore durgin
11/18/2009 4:35:31 PM

I'm using Kevin's "Purely Based on Price" filter on a daily basis against my portfolios. It find it to be a good approach to determine when I should sell a stock. I think that it is a better approach than using a selected stop price or even a trailing stop.

Kevin_in_GA
4,548 posts
msg #83232
Ignore Kevin_in_GA
modified
11/18/2009 5:47:17 PM

I'm using Kevin's "Purely Based on Price" filter on a daily basis against my portfolios. It find it to be a good approach to determine when I should sell a stock. I think that it is a better approach than using a selected stop price or even a trailing stop.
+++++++++++++++++++++++

Based on the comments here on a weekly version of this filter, I think that this iteration might be of interest to you and others:

Fetcher[

/*WEEKLY PRICE FILTER*/

/*create threshold as a variable*/
set{threshold, WEEKLY low 3 weeks ago}

/*close must be above threshold*/
set{BUY, count(close > threshold,1)}
set{SELL, count(close < threshold,1)}

/*create variables for graphical display*/
set{var3, WEEKLY high 10 week high}
set{trailing_stop, var3*0.9}

/*apply to index surrogates*/
Apply to symlist(spy,dia,qqqq,gld,slv)
and chart-display is weekly
and chart-time 1 year


/*draw threshold and trigger on price plot*/
draw threshold on plot price
draw trigger on plot price
draw trailing_stop on plot price
draw price line at threshold

/*draw BUY and SELL signals*/
draw BUY
Draw SELL on plot BUY

add column separator
add column BUY
add column separator
add column SELL
add column separator
add column threshold
add column trailing_stop

]



Here I shortened the weekly timing for the threshold to the weekly low 3 weeks ago, and added a trailing stop at 10% below the highest weekly high over the last ten weeks.

Sell whenever the price closes below one of these two triggers.

Looking at the major index surrogates, you make fewer trades this way and ride the uptrend without hiccups.

durgin
60 posts
msg #83238
Ignore durgin
11/18/2009 9:42:58 PM

Thanks! This is tighter than your first filter in this thread. So now one has the option of being loose or tight as well as the 10% loss -- Nice.

Kevin_in_GA
4,548 posts
msg #83244
Ignore Kevin_in_GA
modified
11/19/2009 6:47:47 AM

I would look at it this way - the weekly price action determines the TREND, while the daily price action determines the TRADE.

I will be using this on the major indices to set an overall tone to my trades, but there are many such filters here using other approaches to try to do the same thing. Look at all of your options and find the one that suits you the best.

Good luck.

Kevin

Kevin_in_GA
4,548 posts
msg #83253
Ignore Kevin_in_GA
11/19/2009 2:38:44 PM

If you run the daily filter (in the first post), you'll see that SPY and QQQQ now give a SELL signal, with DIA not far behind.

Weekly numbers still show the trend as BUY.

durgin
60 posts
msg #83259
Ignore durgin
11/19/2009 6:31:53 PM

Sorry -- I got the filters mixed up. To restate what I wrote -- I have been using the first WEEKLY PRICE FILTER for all the stocks that I own and find it is very helpful. Your latest WEEKLY PRICE FILTER is tighter than the first one. I am generally a trend trader so the weekly version is appropriate for me.

Kevin_in_GA
4,548 posts
msg #83552
Ignore Kevin_in_GA
11/27/2009 7:14:40 PM

I updated both the daily and weekly price filters a bit, as I noticed the code I used was not giving me the threshold as I wanted.

I would now use the weekly threshold as a buy or sell price - use limit orders to get in or out at the weekly value, and you'll do pretty well.

StockFetcher Forums · Filter Exchange · Filter based solely on price - no indicators used<< 1 2 3 >>Post Follow-up

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