StockFetcher Forums · Filter Exchange · STOCKFETCHER ADMIN<< >>Post Follow-up
calhawk01
135 posts
msg #89867
Ignore calhawk01
3/18/2010 7:29:24 PM

Hello,
I would like to suggest that you guys should have a feature or a way to screen for stocks strictly based on technical analysis. What I mean is that - there should be a way to screen for stocks based on technical analysis and that the breakouts were not news driven. For example when i backtest a filter, lots of stocks end up being in my backtest because of positive or negative news. The reason the stock moved was because of the news and it was NOT a technical analysis breakout. I don't think it would be hard to add this feature. All you guys would have to do is somehow check the news from google/yahoo finance, and dis include those days?
Thank you

Kevin_in_GA
4,543 posts
msg #89868
Ignore Kevin_in_GA
3/18/2010 7:37:19 PM

This is not how filters work - they do not care about news, only about stock price movement.

The piece you want needs to be done by hand to be of any real value.

Besides, when is the last time you saw any new feature set from SF?? I've been here about two years and am still waiting to see any announcement on new features, SF code functions or any new indicators.

sbuck143
88 posts
msg #89914
Ignore sbuck143
3/19/2010 8:46:14 AM

It should also be noted that attempts to detach stock prices from the events and conditions that actually create those stock prices is to create something that has no basis in reality.

What you refer to as technical analysis driven breakouts.....that is something that does not exist in real-life. What shows up as a double bottom on a chart is because some EVENT or NEWS or something related to the company however minor, is affecting its price. It is not because all the folks investing in a stock figured, "Well it's time to start a double bottom here, so the stock can go up"

Technical Analysis doesnt drive prices - the market drives prices. TA only acknowledges that the market acts in a way that can be taken advantage of.

cwn6161
40 posts
msg #89931
Ignore cwn6161
modified
3/19/2010 10:31:20 AM

I'd disagree on that buck - when enough TA followers see a pattern for a breakout lets say, that often times becomes a self-fulfilling prophesy, causing the breakout to occur.

Look at the Run Forest Run filters for example. It looks for stocks that statistically have a history of moving a lot when they start to move. That's detaching all information from the stock, isn't it? We don't necessarily know why they move, but we know they move a great deal.

If the market consists of TA followers... guess who is driving the market?

calhawk01
135 posts
msg #89955
Ignore calhawk01
3/19/2010 4:53:27 PM

I understand that news moves the price and that it is part of the reality. However, I will say that the results from my backtest have a lot of NOISE because of news related breakouts. I want to be specific with what I am looking for, and that is why we are here on stockfetcher. I think the results to your filter are more legitimate if the NOISE is taken out..

sbuck143
88 posts
msg #89964
Ignore sbuck143
3/19/2010 6:46:41 PM

Cwn -

I'd agree to a certain extent, but only with the most high level, commonly known stuff, but even that that isn't necessarily a sure thing.


The thing is twenty different people can look at the same chart and come up with twenty different interpretations of it.

Yes the high level stuff - is it above the 200 EMA okay, it's bullish, is it below okay, it's bearish, are some things most can agree on. And things like long term support and resistance are based in the same way on people recognizing price or pattern and reacting solely to that, but beyond that, I'm not so sure.


I think us TA geeks tend to forget that by far the common investor doesn't delve into this detail at all, and does everything from listening to some talking head on the TV, to noticing they like Sony TV's and DVD players, so they buy Sony, etc. Following the "buy what you know" philosophy etc.

IOW, I'd bet my mortgage that you pull 20 coworkers in your office / students at school and ask them to point out a cup and handle on a chart, and you'll get 20 blank faces. Okay, okay, how about recoginizing Chaikins Money Flow index from a MACD histogram?

But each one of those 20 people still has 401k's, mutual funds in a brokerage acct, etc. And they only buy / sell at year end when the newspaper has an article on year end being a good time to adjust 401k's.



Eman93
4,659 posts
msg #89972
Ignore Eman93
3/19/2010 10:54:57 PM


sbuck143
- Ignore sbuck143 3/19/2010 6:46:41 PM

Cwn -

I'd agree to a certain extent, but only with the most high level, commonly known stuff, but even that that isn't necessarily a sure thing.


The thing is twenty different people can look at the same chart and come up with twenty different interpretations of it.

Yes the high level stuff - is it above the 200 EMA okay, it's bullish, is it below okay, it's bearish, are some things most can agree on. And things like long term support and resistance are based in the same way on people recognizing price or pattern and reacting solely to that, but beyond that, I'm not so sure.


I think us TA geeks tend to forget that by far the common investor doesn't delve into this detail at all, and does everything from listening to some talking head on the TV, to noticing they like Sony TV's and DVD players, so they buy Sony, etc. Following the "buy what you know" philosophy etc.

IOW, I'd bet my mortgage that you pull 20 coworkers in your office / students at school and ask them to point out a cup and handle on a chart, and you'll get 20 blank faces. Okay, okay, how about recoginizing Chaikins Money Flow index from a MACD histogram?

But each one of those 20 people still has 401k's, mutual funds in a brokerage acct, etc. And they only buy / sell at year end when the newspaper has an article on year end being a good time to adjust 401k's.

===========================

Those people do not make the market move..... the big players the smart money..... theses are the folks that put in the tops and bottoms,,,,its not hard to see look at any chart,,,,,,, the trick is knowing when it is happing... at that moment.

If I had to do it all over again..... I would only trade index ETF non leveraged just SPY and SH.

Do nothing else until you can make coin trading these....

next thing would be to look into individual stocks that may move faster than the index funds

next would be interday scalping

last would be options

=====================

News is all part of it...


Eman93
4,659 posts
msg #89974
Ignore Eman93
3/19/2010 11:06:14 PM

Try this out

http://www.chartgame.com

dickysofa
63 posts
msg #89976
Ignore dickysofa
3/20/2010 12:12:13 AM

or

http://www.tradingsim.com/


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