charltonj
4 posts
msg #65999
- Ignore charltonj |
8/10/2008 1:15:46 AM
I’d appreciate any input, recommendations and modifications to the two below filters I’ve roughed out; I know there’s a lot of talent in this group. I was unable to find a good swing filter so I took my best shot. They actually perform quite well and am able to scan the filtered charts for proper setups (about 30 - 50% exhibit good swing trade setups), but would like to be able to define it more so.
My intent: to find stocks in a defined uptrend / down trend, i.e., the 20 m.a. is parallel to the 40 m.a. (railroad tracks) that have pulled back for 3+ days and are now exhibiting a classic swing candle entry. I think the latter works quite well; however, my means of defining a trend using [ma(15) is above / below ma(30) and ma(30) is above / below ma(50) ] is a bit lacking. It does have merit in that it predominantly selects those stocks that are going in the market’s direction -- a good thing.
To loosen up the filter, the following line can be removed (play with it):
[and body_bottom 3 days ago is below body_bottom 4 days ago]
On this date, the filtered list is very small largely because of Friday’s big upswing following Thursday’s big downswing, i.e., the above m.a. criteria has filtered them all out. Again, probably a good thing until the market finds its direction.
Await the Masters’ reply.
// *SWING LOW -- LONG SETUP* /
set{body_bottom,min(open,close)}
set{body_top,max(open,close)}
show stocks where body_bottom above body_bottom 1 day ago
and close above open
and body_bottom 1 day ago is below body_bottom 2 days ago
and body_bottom 2 days ago is below body_bottom 3 days ago
and body_bottom 3 days ago is below body_bottom 4 days ago
and close is above 5
and average volume (10) is above 100000
and stock is optionable
and average true range is greater than .5
and ma(15) is above ma(30)
and ma(30) is above ma(50)
sort column 4 descending
add column atr(5)
add column separator
add column sector
add column industry
add column separator
/
/ *SWING HIGH -- SHORT SETUP* /
set{body_bottom,min(open,close)}
set{body_top,max(open,close)}
show stocks where body_top is below body_top 1 day ago
and close below open
and body_top 1 day ago is above body_top 2 days ago
and body_top 2 days ago is above body_top 3 days ago
and body_top 3 days ago is above body_top 4 days ago
and close is above 5
and average volume (10) is above 100000
and stock is optionable
and average true range is greater than .5
and ma(15) is below ma(30)
and ma(30) is below ma(50)
sort column 4 descending
add column atr(5)
add column separator
add column sector
add column industry
add column separator
/
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WALLSTREETGENIUS
983 posts
msg #66000
- Ignore WALLSTREETGENIUS |
8/10/2008 1:23:05 AM
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maxreturn
745 posts
msg #66003
- Ignore maxreturn |
8/10/2008 8:27:07 AM
A couple of suggestions. The quality of your candidates will improve if you incorporate the 200 period ma and relative strength. For buys I like to require that: 1) The stock not only be above the 200 period ma but that the 200 period ma be distinctly upsloping. 2) The stock be stronger over the last 12 months than the SPX. Flip this requirements for short candidates.
Another tip. A simple way to find stocks that are accelerating the most to the up/down side focus on those where the spread between the the 50 period ma is moving up/down. You can do this by constructing a custom oscillator as follows:
set{50200osc, ma(50) divided by ma(200)}
HTH
Max
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charltonj
4 posts
msg #66008
- Ignore charltonj |
8/10/2008 3:44:30 PM
Thanks Riggs & Max,
Agree with your recommendations, will play around with it. Assume I can filter further using the slope of the 200 ma. Tried using slopes of the 20 and 40 with limited success. Will attempt to incorporate your oscillator -- thanks again.
Joe
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maxreturn
745 posts
msg #66011
- Ignore maxreturn
modified |
8/10/2008 4:04:54 PM
Joe, I really don't have much use for the "slope" function. I've had more success in my filters when simply requiring for the past X days, the given moving average must be moving higher each day. For example, let's say you want to see the 50 day moving average moving up for each of the last 20 days. You could simply state the following:
Alternatively, for most of my filters the number of days a moving average is moving up in a given time frame is just one element. I may simply want to see in a plot and/or a column how many days out of the past 20 that the 50 day moving average is moving up. Here's an example of how I do that:
HTH
Max
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