StockFetcher Forums · Filter Exchange · The strongest indicator (quote Dr. Elder)<< 1 2 >>Post Follow-up
ludowillems
93 posts
msg #60618
Ignore ludowillems
3/18/2008 4:00:04 PM

Fellow crusaders, I recently finished reading "Trading for a living" by Dr. Alexander Elder. Worth every penny, especially the chapters on the psychology of the trader (Dr. Elder is a MD inand practising psychologist) Apart from that, he goes over Technical Analysis in great detail. In this book, he points to what he describes as "the strongest signal ever". Indeed, I backtested it (manually) on a great number of charts, and the results are, to say the least, amazing. Please check out the following: plot a 3 month candels chart of QLGC and draw MACD(12,26,9) below it. Look in particular for the MACD Histogram below 0 making 2 distinctive "bumps".(between january, 7th and 28th.) If you connect this two bumps with a trendline (sloping up) you will notice it converges with the downward slope of the trenline on the candles. Now where the second bump finallaly moves upward, you will notice a sharp and long upswing of the stock. I would love to find a Stockfetcher formula to filter this particular pattern. Any specialist wanting to share his/her wisdom? Kind regards from Belgium.

chetron
2,817 posts
msg #60689
Ignore chetron
modified
3/20/2008 7:14:50 AM

using this JP/WSG inspired filter, QLGC looks interesting...


Fetcher[

/* TACHIKAWA */

/* WORK IN PROGRESS */

set{LBB_40,count(low < lower bollinger band(40,0.4),1)}
set{LBB_9,count(low < lower bollinger band(9,0.4),1)}

Set{vMA20,CMA(volume,20)}
set{vSD,cstddev(volume,20)}
set{vSD20,2 * vSD}
set{vBOLU,vMA20 + vSD20}
set{vBOLD,vMA20 - vSD20}
set{varvol,volume}
SET{TRIP_WIRE,COUNT(VOLUME > vBOLU,13)}

set{BUY_ME,macd(7,12,3)}
set{SHORT_ME,macd(5,3,3)}
set{cross_me,buy_me - short_me}

SET{LONG,COUNT(BUY_ME CROSSED ABOVE SHORT_ME,1)}
SET{SHORT,COUNT(SHORT_ME CROSSED ABOVE BUY_ME,1)}

SET{VAR40,COUNT(3 DAY SLOPE OF BOLLINGER BAND(40,0.4) < 0,1)}
SET{VAR9,COUNT(3 DAY SLOPE OF BOLLINGER BAND(9,0.4) > 0,1)}

set{diff,close - ema(40)}
set{%diff,diff / ema(40)}
set{KISS,%diff * 100}
set{kissma40,cema(kiss,40)}

set{var21, kiss 20 day high}
set{var22, kiss 20 day low}
set{var23, kissma40-var22}
set{var24, var21-var22}
set{var25, var23/var24}
set{super_trig, var25*100}

set{SD,cstddev(kiss,40)}
set{SD40,2 * SD}
set{BOLU,kissma40 + SD40}
set{BOLD,kissma40 - SD40}


draw bolu on plot kiss
draw bold on plot kiss
draw kissma40 on plot KISS
draw kiss 20 day high on plot kiss
draw kiss 20 day low on plot kiss
draw SHORT_ME on plot BUY_ME
draw cross_me LINE AT 0 on plot cross_me
draw trip_wire on plot trip_wire
DRAW Bollinger Band(40,0.4)
draw bollinger band(9,0.4)
DRAW MACD(4,8)

add column KISS
ADD COLUMN SEPARATOR
add column LBB_40
add column LBB_9
ADD COLUMN SEPARATOR
add column BUY_ME
add column SHORT_ME
ADD COLUMN SEPARATOR
add column super_trig
ADD COLUMN SEPARATOR
add column var9
add column var40
add column cross_me
add column trip_wire

apply symlist(QLGC)

sort column 3 ascending
]



WALLSTREETGENIUS
983 posts
msg #60720
Ignore WALLSTREETGENIUS
modified
3/23/2008 10:19:52 PM

CHETRON -

Love that little "BUY_ME_SHORT ME" FEATURE...NICE WORK.

chetron
2,817 posts
msg #60729
Ignore chetron
3/24/2008 12:23:00 PM


thank you




morsan
27 posts
msg #68410
Ignore morsan
10/14/2008 11:22:10 AM

Question from a newbie. How do you pick a stock from this filter? It produces so many results!

Thanks
morsan

chetron
2,817 posts
msg #68411
Ignore chetron
10/14/2008 11:49:47 AM


add your price limits to trim down the amount of results and use ludos info for usage.

hth



morsan
27 posts
msg #68414
Ignore morsan
10/14/2008 1:11:54 PM

Still need to ask some elementary questions:

What does kiss mean? Is higher better?

Does 1 under llb_40 etc mean that the criteria is met?

Is buy_me, short_me nr, better the higher

What is super trig? Higher nr better?

What does cross_me mean? Higher better?

Trip wire?

Sorry for being rudimentary but I see no other way to find out!

Thanks!
Morsan

chetron
2,817 posts
msg #68416
Ignore chetron
modified
10/14/2008 2:05:35 PM

THOUGH I REFERENCED THE ABOVE CODE AS A FILTER, IT IS NOT. THIS IS WHY YOU GET SO MANY RETURNS. THE ABOVE CODE IS A REPORT. I PROVIDED LUDO WITH INFORMATION OF CHOICE INDICATORS FOR HIS EQUITY OF CHOICE. IT IS NOT IMPORTANT, NECESSARILY, WHAT STATE AN INDICATOR IS IN, AS OPPOSED TO, WHAT STATE IT IS IN ON THE DATES YOU WANTED TO BUY OR SHORT THE EQUITY IN QUESTION.

KISS IS AN ACRONYM FOR, KEEP IT SIMPLE, STUPID.

HTH



morsan
27 posts
msg #68418
Ignore morsan
10/14/2008 2:37:16 PM

Ok! Thanks Chetron for taking your time! I thought it was a filter and couldn't understand all the result returns! It makes more sense now.
All the best!
Morsan

TheRumpledOne
6,362 posts
msg #68422
Ignore TheRumpledOne
10/14/2008 3:20:58 PM

"IT'S NOT THE STOCK YOU PICK, IT'S HOW YOU TRADE THE STOCK YOU PICK".

StockFetcher Forums · Filter Exchange · The strongest indicator (quote Dr. Elder)<< 1 2 >>Post Follow-up

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