StockFetcher Forums · Filter Exchange · Option Buyers<< >>Post Follow-up
103 posts
msg #98790
Ignore bkhurana43
1/29/2011 4:06:04 PM

I am attempting to get your feed back on my filter that I consider may be useful for Option Traders buying CALLS. This is intended for short term plays (2-3 days)

However there is always a room for improvement and fine tunning and any suggestions in this regard would be highly appreciated.

Need help in backtesting .

I hope SF community members can come up with some ideas of their own for a SHORT filter good for PUT option plays

Stocks are optionable
/* BUY Signal 1 */
Close is above DMA(3,3)
average volume(100) > 500000
/* BUY Signal 2 */
macd(8,17,9) fast line crossed macd(8,17,9) slow line from below within the last 1 day
/* BUY Signal 3 */
and Full stochastics(3,3,8) %k = > Full stochastics(3,3,8) %d
/* BUY Signal 4 */
and aroon UP(3) > 95
/* BUY Signal 5 */
and +DI(3) = > -DI(3)
Draw aroon Down(3)
Draw RSI(3)
add col RSI(3)
add col aroon Down(3)
add col aroon UP(3)
add col +DI(3)
add col -DI(3)

"Happy option trading"


230 posts
msg #98791
Ignore wkloss
1/29/2011 4:51:50 PM


What are you using as your buy signal?


640 posts
msg #98792
Ignore mahkoh
1/29/2011 5:22:49 PM

Offsetting your filter until a couple of weeks back does not really convince me that buying calls on the results will be profitable. To narrow down the results however may I suggest you paste this in your filter:


These are some stocks that have relatively tight spreads for the near the money options.

103 posts
msg #98793
Ignore bkhurana43
1/29/2011 5:48:56 PM

Very good suggestion - mahkoh

On similar lines I have made a checklist of my own including "Penny Increments Options" . That narrows down my list for choices to basic minimum.

Can you point out any other filter that could be more effective for my plans to trade options only.


640 posts
msg #98794
Ignore mahkoh
1/29/2011 6:57:29 PM

I have recently stumbled upon TRO's Bollinger/Keltner squeeze filter and believe this may be suitable for straddles. The filter's results should have lost some implied volatility as they have been trading in a narrow range. Once they break out rising IV will provide wind in the back for the option.

The thread and filter are to be found here:

230 posts
msg #98795
Ignore wkloss
1/29/2011 8:01:10 PM


I believe wantonellis had a filter on 12-11-10 (not sure exactly) that returned stocks moving sideways.That might be a good one for spreads.


932 posts
msg #98796
Ignore Mactheriverrat
1/30/2011 12:17:30 AM

Yes it was wantonellis 12/10/2010 5:30:07 PM

Some good finds if one is Patient.
able to wait without becoming annoyed or anxious : be patient, your time will come.

103 posts
msg #99116
Ignore bkhurana43
2/15/2011 4:08:28 AM

Fetcher[Stocks Optionable
and RSI(2) 1 day ago < RSi(2)
Show stocks where RSI(2) crossed RSI(8) from below
and ATR(30) > 1
and aroon Up(25) above aroon Down(25) for the last 45 days
and aroon Up(25) above 80
set{BUY, count(RSI(2) approaching 84 from below, 1)}

Draw +DI(3)
Draw -DI(3)
Close above 4
Avg Volume(30) > 500000
Draw MA(3)
Draw MA(20)
Draw MA(50)
add col ATR(30) {ATR-30}
add col RSI(2)
add col RSI(8)
Draw MA(200)
add col Buy {Bullish}
add col aroon Up(25)
add col aroon Down(25)
sort col 8 descending
add col separator
add col sector
add col Industry
add col separator

103 posts
msg #99118
Ignore bkhurana43
2/15/2011 4:29:02 AM

My filter is giving me the picks that are one day too late for trade ENTRY.

Can someone suggest fine tunning the filter to reflect the status of the picks prior to RSI(2) crossing RSI(8) from below. Make sure the list of stocks with modified filter when offset to 1 is identical to the current pick list of this filter.

4 posts
msg #99122
Ignore rosalieone
2/15/2011 6:17:28 AM


Instead of 84 for the rsi try ''approaching 75 from below''
Best regards

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