StockFetcher Forums · Filter Exchange · This Is The Last Filter You Will Ever Need Part III<< 1 2 3 4 5 ... 6 >>Post Follow-up
riggs
313 posts
msg #41316
Ignore riggs
modified
2/18/2006 4:46:08 PM

Just took 5-7 minutes and pulled these off just 1 page from the 3,400 list. Run these through the filter and watch them the next 10-20 days. Obviously you'll want to incorporate some fundies, and watch the news on these guys, but you'll get the picture.
____________


BAS
NILE
RUTH
CPKI
WXS
CHKP
DQE

____________





RIGGS




nikoschopen
2,824 posts
msg #41317
Ignore nikoschopen
2/18/2006 4:53:29 PM

Riggs,

Okay, ure point was to look for divergence among the 4 indicators, but with only 3471 stocks fetched that would take forever to achieve using a snailass method.

Here is a better & more efficient way to achieve the same thang without breaking out in unsightly sweat:

Fetcher[
Set{Bullpower, high minus ema(13)}
Set{Bearpower, low minus ema(13)}
show stocks where close is above 20
and average volume(17)is above 500000

/* NORMALIZATION POSITION*/

set{adval, INDPOSITION(accumulation distribution,60) * 100}
set{moval, INDPOSITION(momentum(12),60) * 100}
set{rsval, INDPOSITION(RSI(2),60) * 100}
set{wrval, INDPOSITION(williams %r(10),60) * 100}

adval is above 70
moval is below 30
rsval is below 30
wrval is below 30

/*CHART-PLOT NORMALIZATION*/

Draw wrval
and draw adval on plot wrval
and draw moval on plot wrval
and draw rsval on plot wrval

/*DRAW*/
Draw Bullpower
and draw Bearpower on plot Bullpower
Draw Bollinger Bands(20)

/*ADD/SORT COLUMN*/
add column adval
add column rsval
add column moval
add column wrval

sort column 2 descending
]



For some reason the 4 indicators aren't being plotted together, but that shouldn't matter much. My meager 2-cents contrib.


nikoschopen
2,824 posts
msg #41324
Ignore nikoschopen
2/18/2006 5:50:06 PM

Since you only defined BullPower / BearPower without explicit conditions to what you're looking for, I merely understood them as just another embellishment. Be that as it may, this is my take on the inner workings of Elder-Ray (whether it's the Triple Screen or Bullish-Bearish Power Struggle or whatnot)

What you need:

1. EMA(13)
2. Elder Ray Bull Power
3. Elder Ray Bear Power

What you must know:

Trend is ure friend; only trade in the direction of the trend! Having said that:

1. Go long when the trend is up as indicated by EMA(13) and the Bear Power is below zero but rising (e.g., bullish divergence).

2. Go short when the trend is down as indicated by EMA(13) and the Bull Power is above zero but declining (e.g., bearish divergence).

What I think you wrongly assume about bullish/bearish divergence is that bull power is up while bear power is down. This is by no means what Elder states in his book.

Nevertheless, time permitting, I'll see what I can come up with.


riggs
313 posts
msg #41326
Ignore riggs
modified
2/18/2006 6:33:45 PM

I have read Dr. Elder's book more times than I'd like to admit, so I know how to use this indicator prolly better than the next guy. Having said THAT, I also know that the trend does NOT have to be up in order for divergence to appear or work for that matter. It is advisable, but not mandatory! I've been using the Elder-rays for 4 years now and have entered NUMEROUS trades with this very system, so tell it to someone else that doesn't know any better there N-I-K-O! Don't bother with the improvements, it appears you're not qualified! Hence..."divergence among the 4 indicators." What the hell was that anyway?....Maybe YOU should re-read my post SLOWLY next time B-4 you sprew out your gibberish again. Or better yet, READ his WHOLE book rather than the first page of a chapter you googled off the internet! LOL....


RIGGS







nikoschopen
2,824 posts
msg #41334
Ignore nikoschopen
2/18/2006 7:23:46 PM

Man you really are a monomaniac, aren't ya? You can only see other's constructive criticism as merely a personal attack? Well much ado about nothing with ure filters and my wasted effort.


riggs
313 posts
msg #41335
Ignore riggs
2/18/2006 7:48:40 PM

Niko said.....

"What I think you wrongly assume about bullish/bearish divergence is that bull power is up while bear power is down. This is by no means what Elder states in his book."

******************************************************************************

This is what Dr. Elder states in his book about Divergence...

"The best buy signals are given by bullish divergences-when prices fall to a new low, but PEAR POWER stops at a more shallow bottom." pp 223

"The best time to buy is when BEAR POWER is negative but rising."

"The strongest buy signals are given by bullish divergences between BEAR POWER and price. If prices fall to a new low, but bear power traces a higher bottom, it shows prices are falling out of interia and bears are becoming weaker."

*******************************************************************************

It's clear from my original post that I have a FIRM grip on the understanding of divergence here! Only I have taken the Elder-Ray to a new level. Dr. Elder doesn't go into the Bull/Bear divergence in his book, because he does this in his seminars and DVD'S. But you got it here for free! Try me, pull up any stock and check out what imediately happens when Bear Power ticks up while Bull Power ticks down or goes flat. That's what I mean by Bull/Bear divergence. And this is just a small tidbit of what Dr. Elder teaches beyond his books.

*******************************************************************************


"one doesn't mind constructive criticism as long as it's warranted."

- Albert Einstein -


*******************************************************************************




THE MIGHTY RIGGS!


riggs
313 posts
msg #41336
Ignore riggs
modified
2/18/2006 8:39:28 PM

Niko said....

"Well much ado about nothing with ure filters and my wasted effort."

********************************************************************

You speak as though someone asked for your help here. As Vince Niel once said..."Don't go away mad, just go away!" LOL....

********************************************************************


RIGGS







TheRumpledOne
6,362 posts
msg #41340
Ignore TheRumpledOne
2/18/2006 9:25:52 PM

"He(TRO)told me that "when all four(4)lines come together at the bottom, get ready to load the boat!" Well I did and lost about 17K during the week he emailed the filter to me. To say the least I was pissed!"

Riggs:

You know you plowed ahead without going over the fine points with me.

I still want to know what stocks you bought, date, time and price, so I can see what happened.

"Get ready to load the boat" is NOT the same as "Load the boat".

When all 4 lines bottom, that is an indication that a reversal is on the horizon. But as you all know, ANYTHING CAN HAPPEN, so you must have a PLAN... entry/exit strategy. One again, STOCK SELECTION and STOCK TRADING are NOT one in the same.

And you should always test with small size first and then after repeated successes slowly increase your position size. You know better, Riggs!

So use the ZOOM LENS and WARM DISPLAY to select your trading candidates but then make sure you apply trading techniques and money management. Riggs, if only you had "waited for green".

MAY ALL YOUR FILLS BE COMPLETE.




riggs
313 posts
msg #41322
Ignore riggs
modified
2/18/2006 9:29:35 PM

Niko -

Here's the problem I see with your version....They(results)are NOT all showing divergence in Bullpower/Bearpower. In fact, most do not. That's where I want to see divergence. NOT between the 4 indicators. Do you see? The "ZOOM LENS" doesn't make you sweat at all brother. Now just take your 5-10 stocks and check your Bull/Bear divergence. If Bull is down & Bear is up below "0", enter. That simple. But you took all the best stocks and left yourself naked and wanting. Do you see? I just made a simple adjustment to the filter to show you exactly what I mean. Now all the results will have Bullpower heading down while Bearpower is ticking up from a "Bullish Divergence." Now just pick the stocks that have the "adval" greater than 75 and the other 3 below 30. Then watch the "POP" in price!


RIGGS.



TheRumpledOne
6,362 posts
msg #41341
Ignore TheRumpledOne
2/18/2006 9:38:14 PM

Fetcher[
/* MP RSIWLR ANALYZER DISPLAY */

/* NORMALIZE accumulation distribution */

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

/* NORMALIZE momentum(12) */

set{moval, INDPOSITION(momentum(12), 60) * 100}

/* NORMALIZE rsi(2) */

set{rsval, RSI(2) }

/* NORMALIZE williams %r(10) */

set{wrval, INDPOSITION(williams %r(10), 60) * 100 }


/* DRAW THE MP RSIWLR CHART */

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

add column adval
add column rsval
add column moval
add column wrval

show stocks where close is between 0 and 3000
and average volume(90)is above 100000
and volume is above 100000

draw Bollinger Bands(20)

Set{Bullpower, high minus ema(13)}
Set{Bearpower, low minus ema(13)}

Bullpower has been decreasing the last 1 day
Bearpower has been increasing the last 1 day

/* RIGGS WARM SELECTION */

ADVAL ABOVE 75
MOVAL BELOW 30
RSVAL BELOW 30
WRVAL BELOW 30

LOW BELOW BOTTOM LINEAR REGRESSION LINE(60)

Draw Bullpower
Draw Bearpower

sort column 2 descending
]



I added the selection criteria Riggs mentioned to the filter:

ADVAL ABOVE 75
MOVAL BELOW 30
RSVAL BELOW 30
WRVAL BELOW 30

LOW BELOW BOTTOM LINEAR REGRESSION LINE(60)

Might as well make the computer do the work.

I'll work on the divergence soon...

MAY ALL YOUR FILLS BE COMPLETE.

P.S. Pay up time, Riggs..lol!


StockFetcher Forums · Filter Exchange · This Is The Last Filter You Will Ever Need Part III<< 1 2 3 4 5 ... 6 >>Post Follow-up

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