StockFetcher Forums · General Discussion · using volume as resistance and support<< >>Post Follow-up
mystiq
650 posts
msg #82814
Ignore mystiq
11/11/2009 3:55:49 AM

...if you were to look at a 3-6month daily chart and within the time period, on VERY HIGH volume days, note the price levels for that particular day. Preferably the high. The price level "could" be your GOAL/RESISTANCE if current price is below...and
vice versa for GOAL/SUPPORT. Also if current price levels are past the GOAL/RESISTANCE price level found, then there is not much resistance to keep the stock from moving up higher.
*can anyone code this?* (-.-)
>It can be found by looking at a daily chart with volume and price but, would love to code this to add to column STATS, basically a put-together-volumeByprice indicator<


chetron
2,817 posts
msg #82816
Ignore chetron
modified
11/11/2009 6:51:55 AM

SOMEONE BROUGHT THIS UP BEFORE. THE 2ND FROM THE BOTTOM FILTER.

AND THIS WAS THE ORIGIN.....

mystiq
650 posts
msg #82901
Ignore mystiq
11/12/2009 3:41:35 AM

Thanks Chetron !
...but was looking for something simple as: drawing a price line at the Pivot point(PP) of the volume 20 day high...is this possible?

mystiq

mystiq
650 posts
msg #82923
Ignore mystiq
modified
11/12/2009 11:15:36 AM

**chetron/edited your filter to show volume 21 day high horizontal line only**

Fetcher[
set{var1,count(volume equals volume 21 day high,1)}
set{vbuy,high * var1}


draw price line at vbuy 21 day high



close above 5
volume above 2000000

sort column 7 descending
]



any comments?

trendscanner
265 posts
msg #82928
Ignore trendscanner
11/12/2009 1:09:42 PM

Mystiq, it looks like the filter can identify a potential target or resistance for a stock, although the peak vol day doesn't always correspond to a high or low for every stock.

My questions are - how would you use this for trading? How would you select a stock from the many candidates returned, and how would you decide on entry and exits? Or would you use this to provide as supplemental info with other trading methods?

mystiq
650 posts
msg #82934
Ignore mystiq
11/12/2009 1:30:40 PM




trendscanner 11/12/2009 1:09:42 PM

Mystiq, it looks like the filter can identify a potential target or resistance for a stock, although the peak vol day doesn't always correspond to a high or low for every stock.

My questions are - how would you use this for trading? How would you select a stock from the many candidates returned, and how would you decide on entry and exits? Or would you use this to provide as supplemental info with other trading methods?

***still work in progrss..any editions welcome....just a visual aide for possible resistance or support if close is higher***

trendscanner
265 posts
msg #82963
Ignore trendscanner
11/12/2009 8:49:06 PM

Mystiq, seems like there are only two strategies to choose from - momentum (keeps going same direction) and reversal, one form of which is a return to a mean. So you'd probably need to couple the filter with one of those basic strategies.

Of these two, I would guess that a reversal strategy might work but I'm not sure whether the filter would give anything other than an exit target. Price on a high volume day is only a single event occurrence, not something that takes into account price-vol behavior over a period of time, which is what many indicators do. But if your goal is to use this for resistance or support, you're probably on to something.



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