StockFetcher Forums · Filter Exchange · THEE ABSOLUTE ((( BOTTOM ))) FILTER!<< 1 ... 2 3 4 5 6 ... 17 >>Post Follow-up
tomb
267 posts
msg #65712
Ignore tomb
8/1/2008 11:13:53 AM

A weekly measure only has a single data point per week. A good analogy would be using daily data and specifying "intraday" periods such as "close 1 hour ago". While there certainly was a price 1 hour ago -- it is not a "daily" value.

So, using "days ago" does not have any effect. And, in fact, is converted to "weeks ago". Below is a corrected filter:

Fetcher[Weekly Williams %R(2) is above Weekly Williams %R(2) 1 week ago and
Weekly Williams %R(2) 1 week ago is below Weekly williams %R(2) 2 weeks ago
and chart-display is weekly
]



Hope that helps,

Tom
StockFetcher.com Support


dwiggains
391 posts
msg #65714
Ignore dwiggains
8/1/2008 11:31:34 AM

Tomb
Thanks
now I understand

See ya
David

WALLSTREETGENIUS
983 posts
msg #65716
Ignore WALLSTREETGENIUS
modified
8/1/2008 1:09:01 PM

This is very interesting Riggs. I looked at the filter results and the stocks do move.

Can you give me some ideas on entry criteria? I see there are many that move quite a bit but there are also some that move down. What criteria would you use to choose say 4 stocks out of the list to go long?

Thanks for sharing, I learn a lot from these filters.

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

cunparis -

I'd be glad to. The first thing you need to L@@k at is the slope of the weekly WM(2). You want to choose stocks where it is at a 45 degree angle, NOT the ones that are 80-90 degrees. If you aren't familiar with measurements, then think of a CHECK MARK. Not an "L" shape. That will save you many stalled trades. Watch what happens when you have as semi rising "L-Shape" pattern on a candlestick chart. They almost always blow up, and turn into "Double Bottoms." So stay away from those lazy weekly patterns!

Now, when you have a falling stock like 3-straight days, and a "check mark" weekly appears...start watching for divergence between your daily Will(2) / RSI(2). When Billy rises on a down day, and RSI falls...you're looking at a strong candidate for an entry. Then start looking at the other 7 indicators I gave you. If they are also pointing up...then that's your entry day.

Now, when to enter intraday? Easy! On that day, wait for the same set-up on a 5-day hourly chart (divergence WILL / RSI). Or just wait for divergence between Williams or RSI. One of these two set-ups almost always shows up on the daily pattern. Now in the event that it doesn'r?...then by at the close (last hour). If the first 2 patterns don't show up, then you're usually looking at a 6-session "Bollinger Squeeze!"...and we already know what to do with that right?...


Fetcher[

/* ((( THEMIGHTYRIGGS ABSOLUTE BOTTOM FILTER ))) */

Draw COG(5,3)
Weekly Williams %R(2) is above Weekly Williams %R(2) 1-day ago
Weekly Williams %R(2) is below Weekly williams %R(2) 2-day ago
Weekly RSI(2) is below Weekly RSI(2) 1-day ago
Do not draw Weekly RSI(2)
OFFSET 3

Draw Bollinger bands(50,.20)
Draw Bollinger Bands(10,.10)
Draw 3-day slope of Bollinger bands(50,.20)
Draw parabolic Sar
Draw Linear Regression Indicator(20)
Draw Bollinger bands(10)
Draw FI(2) line at 0

/* NORMALIZE accumulation distribution */

set{adval, INDPOSITION(accumulation distribution, 60) * 100 }

/* NORMALIZE RSI(2) */

set{RSval, INDPOSITION(RSI(2), 60) * 100}

/* NORMALIZE williams %r(2) */

set{wrval, INDPOSITION(williams %r(2), 60) * 100 }


/* DRAW THE MR CCIWLR CHART */

and draw adval on plot wrval
and draw rsval on plot wrval

Draw Bearpower on plot Bullpower
Draw Bullpower line at 0
Draw MACD(4,8)
Draw VMACDD line at 0
Draw Williams %R(20) line at -75

volume is above 100000
sort column 29 descending
chart-time 45-days
close is above 10

set{WRSb,days(weekly RSI(2) is above weekly RSI(2) 1 day ago,100)}
set{WRSa,days(weekly RSI(2) is below weekly RSI(2) 1 day ago,100)}
set{WRSxWRS, WRSa - WRSb}
set{WWLb,days(weekly williams %R(2) is above weekly Williams %R(2) 1 day ago,100)}
set{WWLa,days(weekly Williams %R(2) is below weekly Williams %R(2) 1 day ago,100)}
set{WWLxWWL, WWLa - WWLb}

Set{Bullpower, high minus ema(13)}
Set{Bearpower, low minus ema(13)}
set{BLb,days(BullPower is above BullPower 1 day ago,100)}
set{BLa,days(BullPower is below BullPower 1 day ago,100)}
set{BLxBL, BLa - BLb}
set{BRb,days(BearPower is above BearPower 1 day ago,100)}
set{BRa,days(BearPower is below BearPower 1 day ago,100)}
set{BRxBR, BRa - BRb}

set{RSb,days(RSI(2) is above RSI(2) 1 day ago,100)}
set{RSa,days(RSI(2) is below RSI(2) 1 day ago,100)}
set{RSxRS, RSa - RSb}
set{WLb,days(Williams %R(2) is above Williams %R(2) 1 day ago,100)}
set{WLa,days(Williams %R(2) is below Williams %R(2) 1 day ago,100)}
set{WLxWL, WLa - WLb}

SET{VMACDD,MACD(4,8) histogram}
set{mhis,indposition(macd(4,8) histogram,60)}
set{mhist,macd(4,8) histogram}
set{mhisb,days(mhist is above 0, 100)}
set{mhisa,days(mhist is below 0, 100)}
set{hstxhst, mhisa - mhisb}
set{var1,count(macd(4,8) histogram 1 day ago < macd histogram(4,8),1)}
set{mhisp,days(var1 < .5,100)}
set{var11,count(macd(4,8) histogram 1 day ago > macd histogram(4,8),1)}
set{mhisn,days(var11 < .5,100)}

ADD COLUMN SEPARATOR
add column industry
ADD COLUMN SEPARATOR
add column adval
ADD COLUMN SEPARATOR
add column WRSXWRS
add column WWLXWWL
add column weekly RSI(2)
add column weekly Williams %R(2)
ADD COLUMN SEPARATOR
add column RSXRS
add column WLXWL
ADD COLUMN SEPARATOR
add column BLxBL
add column BRxBR
ADD COLUMN SEPARATOR
add column mhisp
add column mhisn
add column hstxhst
ADD COLUMN SEPARATOR
add column PE
add column EPS
add column ROE
ADD COLUMN SEPARATOR

]





WALLSTREETGENIUS -

dwiggains
391 posts
msg #65719
Ignore dwiggains
modified
8/1/2008 3:37:24 PM

Hi Riggs ------ Weekly Williams %R (2)

Your Weekly filter only gets data on Fridays.

If the market was up this week then the filter goes up and market down then the filter goes down.

Tomb post above showed me what I was doing wrong.

Am I wrong or does this filter only show what "happen" this week.
Notice all market turns are on Fridays.

See ya
David

elis58
11 posts
msg #65720
Ignore elis58
8/1/2008 3:42:57 PM

wsg

first thanks for your hellping and for your filter. seems it made wanderfull results checking the 3 days shift .i am newbie and don't understand part of what you saying but i am going to learn :)
anyway wanted to ask you this : you are checking the indicator on weekly chart and after they meet your pattern you are going to hourly chart for confirmation ? what are the indicator paremeters on the hourly chart ? are they the same as for the weekly ?

thanks
elis

WALLSTREETGENIUS
983 posts
msg #65721
Ignore WALLSTREETGENIUS
modified
8/1/2008 4:25:48 PM

Am I wrong or does this filter only show what "happen" this week.
Notice all market turns are on Fridays.
_____________________

No, the "turns" usually take place on Mondays. Listen, don't make this anymore complicated then it needs to be. Don't worry about what "tomb" said. Yes, he helped us understand why we don't get the exact turns later in the week. So what has this taught you? It's what you should be doing all along, and that's EXITING your trades before friday anyway. Now, with my heavy trading experience, I'll ENTER trades on fridays because of other set-ups I look for during a certain market condition...but for the most part, market makers become less enchanted, and lazy on fridays, so that is why you wont see any turns later in the week.

Now let's not lose sight of one thing...NEVER ENTER A TRADING ON A DOWN DAY! I've preached this for over 3-years now! If you do...there beter be divergence between Billy & RSI. In closing, I want to REMIND you all, that if there's any question about SF's weekly charts, just refer to your OWN weekly's on your respective platforms. It's just that easy, because you SHOULD be doing that anyway.


- RIGGS -



WALLSTREETGENIUS
983 posts
msg #65722
Ignore WALLSTREETGENIUS
8/1/2008 4:30:25 PM

anyway wanted to ask you this : you are checking the indicator on weekly chart and after they meet your pattern you are going to hourly chart for confirmation ? what are the indicator paremeters on the hourly chart ? are they the same as for the weekly ?
_____________________________

elis58 -

Refer to the 3rd post on this page. I explain everything in great detail.


- RIGGS -


Jay123
9 posts
msg #65730
Ignore Jay123
8/1/2008 8:47:12 PM

WSG... You say "EVER ENTER A TRADING ON A DOWN DAY! I've preached this for over 3-years now!" Do you mean never enter a trade when the market is down, or never enter a trade when the particular stock is down?

Jay123
9 posts
msg #65731
Ignore Jay123
8/1/2008 9:22:37 PM

WSG... You say "The first thing you need to L@@k at is the slope of the weekly WM(2). You want to choose stocks where it is at a 45 degree angle, NOT the ones that are 80-90 degrees.

Now, when you have a falling stock like 3-straight days, and a "check mark" weekly appears...start watching for divergence between your daily Will(2) / RSI(2). When Billy rises on a down day, and RSI falls...you're looking at a strong candidate for an entry."

Would be great to make this clickable. Here's an attempt. I'm sure there's at least one thing wrong...

/* ((( THEMIGHTYRIGGS ABSOLUTE BOTTOM FILTER ))) */

Weekly Williams %R(2) is above Weekly Williams %R(2) 1-day ago
and Weekly Williams %R(2) is below Weekly williams %R(2) 2-day ago
and Weekly RSI(2) is below Weekly RSI(2) 1-day ago
and 5 day slope of weekly williams %R(2) is above 1.5
and close is below open
and RSI(2) is below RSI(2) 1 day ago
and williams %R(2) is above williams %R(2) 1 day ago
OFFSET 0

WALLSTREETGENIUS
983 posts
msg #65732
Ignore WALLSTREETGENIUS
8/1/2008 9:35:15 PM

" Do you mean never enter a trade when the market is down, or never enter a trade when the particular stock is down? "
___________________

Jay, I was refering to the actual market, not the stock. More times than not, you will be entering the stock when it's down. You're not seeing this?...



Fetcher[

/* ((( THEMIGHTYRIGGS ABSOLUTE BOTTOM FILTER ))) */

Weekly Williams %R(2) is above Weekly Williams %R(2) 1-day ago
and Weekly Williams %R(2) is below Weekly williams %R(2) 2-day ago
and Weekly RSI(2) is below Weekly RSI(2) 1-day ago
and 5 day slope of weekly williams %R(2) is above 1.5
and close is below open
and RSI(2) is below RSI(2) 1 day ago
and williams %R(2) is above williams %R(2) 1 day ago
OFFSET 0

]




StockFetcher Forums · Filter Exchange · THEE ABSOLUTE ((( BOTTOM ))) FILTER!<< 1 ... 2 3 4 5 6 ... 17 >>Post Follow-up

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