StockFetcher Forums · Filter Exchange · Has anyone created the Big Trend's Percent R method?<< 1 2 >>Post Follow-up
Bill_theITguy
5 posts
msg #95655
Ignore Bill_theITguy
8/15/2010 10:28:57 AM

Basically, Price Headley's redesign of Larry Williams Percent R

Price Headley uses a 30 day period instead of the Williams 14 day period.

For stocks trending upward (many call this overbought) he needs one to close above -20 (actually above -19.49). This is called a Bull Setup.

Then that same stock must CLOSE above the first bars high of the day. This has to happen within 5 business days. This is called the Bull Confirmation.

Next, we need for that same stock to (again, within 4 to 5 business days of the Bull Confirmation) to fall below -20 (actually, below -20.51). The low of that day is called the Bull Retest.

in this trading method, the Bull Retest point is considered the best entry point for a new trade and it's also your stop out point if the stock ever closes below this level.

I can chart stocks that rise above a Williams %R 30 day period -19.49 (the first part of this method), but I am stumped as to how to chart the rest so that I only view stock candidates that have met all of the criteria above and are now at or above the Bull Retest point.

Any suggestions on how to filter something like this?

Thank you

gmg733
623 posts
msg #95658
Ignore gmg733
8/15/2010 4:20:52 PM

Bill,

Search the forums, this question has been asked a few times before.

Happy Trading.



Bill_theITguy
5 posts
msg #95659
Ignore Bill_theITguy
modified
8/15/2010 4:48:39 PM

Thanks GMG.

I have (had) searched before my post.

I found a few mentions of the Big Trends Percent R method, but nothing that charted or filtered all the way through to the Bull Retest criteria that I listed above. In fact I only found links to filters looking at Bear candidates using %R and Acceleration Bands.

I also found a thread about Trixi Charts (I think that you were part of the thread). But Trixi Chart BigTrends %R filter has been broken for over 3 months now. It runs, it finds stocks, but it's using Williams %R 14 day periods instead of the BigTrends %R 30-day period.

I've written to them and to BigTrends - nobody seems to be able to get this fixed.

But even if it was, it would only show stocks that just crossed above the -20 line (which BigTrends calls the Bull Setup). I was hoping to find or design a filter that gets me right to the BigTrends %r Bull Retest candidates (criteria written in my original post).

Now I'm not the brightest guy in the world, so if I missed something, I apologize. If you have seen a filter that will find stock candidates for Bull Retest, please post a link and I'll take a look.

Thank you.



fortyfour
185 posts
msg #95666
Ignore fortyfour
8/15/2010 7:54:11 PM

This may do it.....or at least point you in the right direction....

the last statement eliminates muttiple crosses above 19.49 in the last 10 days....
The documentation for days says that the "-1" statement is necessary to require that %R(30)
did indeed cross below -20.51....Good luck.



Fetcher[close > 10
avg vol(90) > 1000000

days(Williams %R(30) crossed above -19.49,5) is above days(Williams %R(30) crossed below -20.51,5)
and
days(Williams %R(30) crossed below -20.51,5) is above -1

and count(williams %r(30) crossed above -19.49,10) is between 0 and 2
]




wkloss
230 posts
msg #95667
Ignore wkloss
8/15/2010 8:19:01 PM

Bill_theITguy,

An important thing to point out is that Headley renumbered the scale in his Williams%R. SF uses the standard numbering system.

Basically Headley is using the top 20% of the scale for long entries and the bottom 20% for short entries. Anyone who tries to use the values from Headley to trade on a standard numbered chart will have a problem. This is something to watch for if you get invited to a Headly free online seminar.

I have a friend who is an experienced trader and has followed this indicator/strategy. He really believes in it so this thread may be another one that produces valuable results.

Bill



Bill_theITguy
5 posts
msg #95680
Ignore Bill_theITguy
8/16/2010 10:19:07 AM

FortyFour - Thanks so much. I'll try it out this week (I normally review after each day's close) and I'll let you know early next week how things are going. In the mean time, I'll try some backtesting as well.


WKLoss - appreciate the mention about the different scales.

I did know about the fact that Price uses 100 to 0 scale with +80 being the upper 20 percent and +20 being the lower 20 percent while Larry Williams uses a 0 to -100 scale with -20 being the upper end and -80 being the lower end.

The good news is that the graph looks the same (upside is bullish/overbought, downside is bearish/oversold). You just have to adjust the numbers on the right depending on whose name is on the scale.

BTW - Price uses 30 bars (30 days) and Williams uses 14 bars.

So with that info, I'm ready to make some money! :-)



gmg733
623 posts
msg #95773
Ignore gmg733
8/22/2010 12:52:22 AM

Use www.trixycharts.com for the AB and BigT Will %R



gmg733
623 posts
msg #95774
Ignore gmg733
8/22/2010 12:55:42 AM

syntax for AB in stockfetcher

Acceleration Bands(20,0)

You'll have to develop something that works for you. Simply following Price's advice is only a starter. You'll need to know how to trade.

Happy Trading.

gmg733
623 posts
msg #95775
Ignore gmg733
8/22/2010 1:03:27 AM

Acceleration Bands also on www.freestockcharts.com

wkloss
230 posts
msg #95776
Ignore wkloss
8/22/2010 10:54:48 AM

Bill_theITguy,

Now that fourtyfour contributed the filter, we see that this gets a lot of hits everyday. I think I saw the same Headley presentation you did and all I recall him saying is that he monitors thousands of stocks each day but no mention of how he picks what to trade.

Any ideas?

Bill

StockFetcher Forums · Filter Exchange · Has anyone created the Big Trend's Percent R method?<< 1 2 >>Post Follow-up

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