StockFetcher Forums · General Discussion · The Stopping Volume Pattern and Profit Taking<< >>Post Follow-up
mystiq
650 posts
msg #76015
Ignore mystiq
7/4/2009 8:00:41 AM

http://emini-watch.com/tradestation-easylanguage-code/400/

Professional profit taking is occurring when the following conditions are met:

Volume is greater than the previous barís volume
Range is less than the previous barís range
A new high is made (in an uptrend) or a new low (in a downtrend), and
Closes off the highs (in an uptrend) or off the lows (in a downtrend)
The reduction in the barís range is the real key. It shows that additional selling (in an uptrend) or additional buying (in a downtrend) is keeping the barís range low. So Professional traders are taking profits and/or "fading" the current trend.

You will almost always see Stopping Volume patterns leading up to a market turning point. However, if the trend is strong it might take several Stopping Volume patterns in a row to slow the trend. Remember, most turning points are Stopping Volume patterns, but not all Stopping Volume patterns are turning points! (-.-)


mystiq
650 posts
msg #76057
Ignore mystiq
7/6/2009 5:47:15 AM

?can ANYone code a TRUE/FALSE statistic column to show these STOPS? (-.-)

chetron
2,817 posts
msg #76058
Ignore chetron
modified
7/6/2009 6:45:51 AM

MAYBE....


Fetcher[
/* TACHIKAWA */
SET{VAR1A,HIGH 1 DAY AGO}
SET{VAR1B,LOW 1 DAY AGO}
SET{VAR1,VAR1A - VAR1B}
SET{VAR2,HIGH - LOW}
SET{VAR3,COUNT(VAR2 BELOW VAR1,1)}

SET{VAR8A,VAR2 / 2}
SET{VAR8,VAR8A +LOW}

SET{VAR4,COUNT(HIGH ABOVE VAR1A,1)}
SET{VAR5,COUNT(LOW BELOW VAR1B,1)}

SET{VAR6,COUNT(CLOSE BELOW VAR8,1)}
SET{VAR7,COUNT(CLOSE ABOVE VAR8,1)}

SET{VUPSTOP,VAR4 * VAR6}
SET{VDNSTOP,VAR5 * VAR7}

SET{VPLAYS,VUPSTOP + VDNSTOP}

ADD COLUMN VUPSTOP
ADD COLUMN VDNSTOP

DRAW VDNSTOP ON PLOT VUPSTOP

VPLAYS ABOVE .5
VOLUME ABOVE VOLUME 1 DAY AGO
VAR3 ABOVE .5

CLOSE ABOVE .1
VOLUME ABOVE 1000000

DO NOT DRAW VPLAYS
DO NOT DRAW VAR3
SORT COLUMN 6 DESCENDING

]



mystiq
650 posts
msg #76059
Ignore mystiq
7/6/2009 7:57:01 AM

!! Chet- when I reach my goals...have to reward you. Thx !!
can this filter be adjusted so that I can add the vdnstop and vupstop columns to my global filter? to include all the variables? so that if the condition is not met, nothing will be returned? Thx again (-.-)

chetron
2,817 posts
msg #76061
Ignore chetron
modified
7/6/2009 8:05:49 AM

YOU ARE VERY WELCOME. = D

I AM NOT VERY VERSED ON THE USE OF THE GLOBAL THINGY, SORRY : (

mystiq
650 posts
msg #76063
Ignore mystiq
modified
7/6/2009 9:23:34 AM

--I put on the thinking cap--

Fetcher[ /* TACHIKAWA */
SET{VAR1A,HIGH 1 DAY AGO}
SET{VAR1B,LOW 1 DAY AGO}
SET{VAR1,VAR1A - VAR1B}
SET{VAR2,HIGH - LOW}
SET{VAR3,COUNT(VAR2 BELOW VAR1,1)}
SET{VAR8A,VAR2 / 2}
SET{VAR8,VAR8A +LOW}
SET{VAR4,COUNT(HIGH ABOVE VAR1A,1)}
SET{VAR5,COUNT(LOW BELOW VAR1B,1)}
SET{VAR6,COUNT(CLOSE BELOW VAR8,1)}
SET{VAR7,COUNT(CLOSE ABOVE VAR8,1)}
SET{VUPSTOP,VAR4 * VAR6}
SET{VDNSTOP,VAR5 * VAR7}
set{vdnstop1a, count(volume > volume 1 day ago,1)}
set{vdnstop2, vdnstop1a * vdnstop}
set{vupstop2, vdnstop1a * vupstop}


ADD COLUMN vupSTOP2
ADD COLUMN VDNSTOP2

SORT COLUMN 5 DESCENDING
]



**now I can add those 2 STATISTIC COLUMNS to my global filter** (-.-)

chetron
2,817 posts
msg #76065
Ignore chetron
7/6/2009 11:23:06 AM

ACTUALLY, YOU WANT TO MULTIPLY THE VARIABLES, NOT ADD.


HTH



mystiq
650 posts
msg #76067
Ignore mystiq
7/6/2009 11:34:58 AM

Thx (-.-)

StockFetcher Forums · General Discussion · The Stopping Volume Pattern and Profit Taking<< >>Post Follow-up

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