StockFetcher Forums · Filter Exchange · help new filter that suppose to be great<< >>Post Follow-up
jnafach
74 posts
msg #79138
Ignore jnafach
9/13/2009 10:18:55 AM

look for stocks trading above their 200-day simple moving average. This assures that a strong upward trend is in place with the company. Next, you drill deeper into this list, finding those names that have fallen back for 5 or more sessions, yet are still above the 200-day simple moving average. The next step is to take this list and further shake it out to find names that the 2 period Relative Strength Index RSI(2) is less than 1

jnafach
74 posts
msg #79139
Ignore jnafach
9/13/2009 10:19:44 AM

put exit when goes either RSI over 90 or cross MA5days

chetron
2,817 posts
msg #79141
Ignore chetron
9/13/2009 11:58:18 AM

MAYBE...




Fetcher[

RSI(2) BELOW 1
PRICE ABOVE MA(200)

]



mystiq
650 posts
msg #80598
Ignore mystiq
10/4/2009 10:47:40 AM

http://scientifictrader.com/volume.htm

Formula for improved On Balance Volume

Cumulative total of (volume * ((high-open) / (high-low))) -

Cumulative total of (volume * ((open-low) / (high-low)))

>>can anyone build this indicator? (-.-)


Kevin_in_GA
4,548 posts
msg #80601
Ignore Kevin_in_GA
10/4/2009 11:56:58 AM

Formula for improved On Balance Volume

Cumulative total of (volume * ((high-open) / (high-low))) -

Cumulative total of (volume * ((open-low) / (high-low)))

>>can anyone build this indicator? (-.-)
++++++++++++++++++++++++++++++++++
How many days for cumulative? I have set it at 10 for now.

Fetcher[
set{var1,high-open}
set{var2,open-low}
set{var3,high-low}
set{var4,var1/var3}
set{var5,var2/var3}
set{var6,volume*var4}
set{var7,volume*var5}
set{var8,sum(var6,10)}
set{var9,sum(var7,10)}
set{new_obv,var8-var9}

add column new_obv
draw cma(new_obv,20)on plot new_obv
and draw OBV(20)
]



I think this is giving you what you want, however, looking at a few stocks that came up (Agilent and Alcoa, the first two on the list) I'm not sure that it is all that much better.

chetron
2,817 posts
msg #80603
Ignore chetron
10/4/2009 12:34:41 PM

HOW ABOUT....


Fetcher[

/* OBV(10) V. NEW_OBV(10) */
/* KEVIN'S FILTER WITH CHETRON EDITS */

set{var1,high-open}
set{var2,open-low}
set{var3,high-low}
set{var4,var1/var3}
set{var5,var2/var3}
set{var6,volume*var4}
set{var7,volume*var5}
set{var8,sum(var6,10)}
set{var9,sum(var7,10)}
set{new_obv,var8-var9}


NEW_OBV 1 DAY AGO BELOW NEW_OBV 2 DAY AGO
NEW_OBV 1 DAY AGO BELOW NEW_OBV
OBV 1 DAY AGO BELOW OBV 2 DAY AGO
OBV 1 DAY AGO BELOW OBV

add column new_obv
draw cma(new_obv,10)on plot new_obv
and draw OBV(10)

]



mystiq
650 posts
msg #80604
Ignore mystiq
10/4/2009 12:43:41 PM

Kevin_in_Ga: maybe this can help more:

On Balance Volume (OBV) is an excellent tool for measuring this steam. It has proved to be one of the best leading indicators of price movement and is invaluable in providing insight regarding accumulation and distribution. On Balance Volume was originally created by Joseph Granville. It reflects a running total of volume as reflected by a change in closing prices. When the closing price is higher than the day before, the volume for that day is added to the running total, when it is lower, the volume for that day is subtracted from the running total.
The short fall of on balance volume is that it generalizes. The change in price is irrelevant and only the direction of change is taken into consideration for the calculations. To overcome this short fall we need to account for where the price is headed in relation to the total price movement (highs and lows) before we attribute any volume to it. When we do this, the effectiveness of this indicator greatly increases. Look at the chart below of AMSC. The top window represents price. The middle window (red indicator) is where On Balance Volume is calculated Granvilles' way and the bottom window (blue indicator) is calculated taking into account all price movement and apportioning volume accordingly.
Often times this enhanced method of calculating On Balance Volume will run concurrent with Granvilles' method, but when the market appears to be indecisive, it is less likely to give reason for hope where hope doesn’t exist and is more likely to identify a positive change in direction when that change is not apparent as shown above.

How can you enhance your On Balance Volume indicator like the one above? First, you need charting software that will allow you to build your own indicators, such as Amibroker charting software. I have found it to be a great value. You can check it out for yourself at http://www.amibroker.com Then you need to calculate the following information.

Formula for improved On Balance Volume

Cumulative total of (volume * ((high-open) / (high-low))) -

Cumulative total of (volume * ((open-low) / (high-low)))

What we are doing here is assigning a percentage of the volume to upward and downward movement based upon the percentage of price movement in the same direction.
To build this indicator using the Amibroker language, you can paste the following into your indicator window:

myobv=Cum(V*((H-O)/(H-L)))-Cum(V*((O-L)/(H-L)));

Graph2=myobv;

Graph2Style=1;



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