StockFetcher Forums · Filter Exchange · Travel<< >>Post Follow-up
TheRumpledOne
6,362 posts
msg #51820
Ignore TheRumpledOne
modified
5/26/2007 12:14:28 PM

Fetcher[
/* TRO TRAVEL Filter */

set{xRange, high - low}
set{xTop, max( open, close) }
set{xBottom, min( open, close) }
set{xWick, high - xTop}
set{xTail, xBottom - low}
set{xT1, xWick + xTail}
set{xTravel, xT1 + xRange}

set{xTdivO, xTravel / open}
set{xTOpen, xTdivO * 100}
set{xTravel30, cma(xTravel, 30) }
set{xADR30, cma(xRange, 30) }

set{xTOpen30, cma(xTOpen, 30) }

add column xTravel
add column xTravel30
add column xTOpen
add column xTOpen30
add column xRange
add column xADR30
add column atr(30)

draw xTravel30 on plot xTravel
draw xTOpen
draw xTOpen30 on plot xTOpen

/* select stocks that have a adr(30) above 1 */
xADR30 above 1

price above 1
volume above 1000000

market is NASDAQ

sort column 8 descending

]




The Architect, on a forum where I am banned, shared an idea called Travel. He was using a Zig Zag type of indicator to measure travel.

I developed an alternate approach. I am defining travel as the length of the candle body plus 2 times the length of each of the wicks. This makes intuitive sense to me. Yes, it doesn't count the travel within the candle body but if you do that, then you might as well just add up the ticks.

xWick = high - Top ;
xTail = Bottom - low ;
xTravel = absvalue( close - open ) + ( 2 * xWick ) + ( 2 * xTail ) ;

You can think of it this way: travel = body plus twice the wick plus tail.

For a bar with C>O travel:
starts at the open
goes down to the low (tail)
back up to the open
from open up to the close (body)
from close up to the high (wick)
from high back down to the close

2+3 give you twice the tail and 5+6 give you twice the wick.

This can also be expressed as RANGE PLUS WICK PLUS TAIL.

xTOpen is travel divided by the opening price. A higher xTOpen indicates more bang for the buck.

To me, the point of Travel is to use it to compare or rank stocks. The more travel, the more money to be made, especially if you are a day trader.



TheRumpledOne
6,362 posts
msg #51821
Ignore TheRumpledOne
modified
5/26/2007 12:39:49 PM

Fetcher[
/* TRO TRAVEL Filter - Daily movers */

set{xRange, high - low}
set{xTop, max( open, close) }
set{xBottom, min( open, close) }
set{xWick, high - xTop}
set{xTail, xBottom - low}
set{xT1, xWick + xTail}
set{xTravel, xT1 + xRange}

set{xTdivO, xTravel / open}
set{xTOpen, xTdivO * 100}
set{xTravel30, cma(xTravel, 30) }
set{xADR30, cma(xRange, 30) }

set{xTOpen30, cma(xTOpen, 30) }

add column xTravel
add column xTravel30
add column xTOpen
add column xTOpen30
add column xRange
add column xADR30
add column atr(30)

draw xTravel30 on plot xTravel
draw xTOpen
draw xTOpen30 on plot xTOpen

/* select stocks that traveled more than 1 */
xTravel above 2

price above 1
volume above 1000000

sort column 7 descending

]



StockFetcher Forums · Filter Exchange · Travel<< >>Post Follow-up

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