StockFetcher Forums · Filter Exchange · Arby347's The New Elder Thread<< 1 2 >>Post Follow-up
622 posts
msg #64018
Ignore luc1grunt
6/19/2008 11:46:48 AM

Since I am partially responsible for dismantling the previous thread most graciously started by Arby347, here is a re-cap with all the garbage (to include mine) deleted.

Maybe we can keep this on track.

My apologies to all for the bs.

Grunt :)

983 posts
msg #64019
6/19/2008 11:52:18 AM

We forgive you can we focus on the stock market already?...

622 posts
msg #64020
Ignore luc1grunt
6/19/2008 11:55:42 AM

- Ignore arby347 6/17/2008 11:54:34 AM

Riggs set a foundation, I believe, for many of us that were not acquainted at all with Elder to make money. Maybe rather than criticism he should receive thanks. Whatever reasons he had for pulling his posts are his own unless he chooses to share them at some time. This should not stop our forums from exploring and further developing the Elder methods.

I just finished reading Elder's "flagship" book, "Trading for a Living". It would be nice if the rest of you who are interested within our community also have this knowledge Chapters 8 and 9 are the core of his contributions. Most of the rest of the book are not indigenous to him and many of us know much of it, however his thoughts on many indicators are interesting.

I am hoping that this forum becomes a place to share knowledge of this topic and ways of combining elements of it with other methods within filters that seem to be working for individuals.

My quest is more swing trading oriented. I am a teacher and during the school year need to put in orders during non-market hours.

Stockfetcher has place the Elder force index as one of our indicators. I am suggesting here that they make the Elder Ray an indicator also. Riggs and others have already contributed to simulate it with a filter, but it would be advantageous to use as a stand alone indicator.

In the spirit of "full disclosure" I want to say that I am by no means an expert on this or in SF coding. I am hoping that there are others, including Riggs, that are
here within our community who will answer or attempt to answer questions and concerns.

Here is my first question to our "experts:

In Elder's Triple Screen System the first screen is for "Market Tide" This is is basically determining the trend of a stock. Elder suggests uptick on a weekly MACD,he Directional system, stochastic,and 4-5 day Williams %R as possible methods.What would be good filters for determining trends? Maybe the best ones have already been posted in SF.

- Ignore jimhbutton 6/17/2008 12:41:13 PM


I like the spirit of your post arby347.

I, for one, am ordering Elder's "Trading for a Living" because of Riggs' endorsement and because I'm all for expanding my trading arsenal.

As for WSG (aka "The Mighty Riggs"): Grasshopper, in lightning-like move of right hand attempted to snatch pebble from Sensei Rigg's palm, but palm was empty!

- Ignore chetron 6/17/2008 6:05:34 PM

try this.....

- Edit message 6/17/2008 6:15:43 PM

Great post Arby and thanks for taking a lead.

I have read Elder's books, but never fully applied the triple screen for one reason or another. Always looking for another "swing" method though!

Let's hope this thread stays on track and produces some "ego-less", positive contributions.

- Ignore TheRumpledOne 6/17/2008 7:46:10 PM

Thanks Chetron


Set{Bullpower, high minus ema(13)}
Set{Bearpower, low minus ema(13)}
set{BLb,days(BullPower is above BullPower 1 day ago,100)}
set{BLa,days(BullPower is below BullPower 1 day ago,100)}
set{BLxBL, BLa - BLb}
set{BRb,days(BearPower is above BearPower 1 day ago,100)}
set{BRa,days(BearPower is below BearPower 1 day ago,100)}
set{BRxBR, BRa - BRb}

set{vbb5,bearpower 1 day ago}
set{vbb1,vbb5 * .90}
set{vbb2,vbb5 * 1.103}
set{vbb3,count(bearpower < vbb2,1)}
set{vbb4,count(bearpower > vbb1,1)}

set{vbb15,bullpower 1 day ago}
set{vbb11,vbb15 * .90}
set{vbb12,vbb15 * 1.103}
set{vbb13,count(bullpower < vbb12,1)}
set{vbb14,count(bullpower > vbb11,1)}

set{vbb113,count(bullpower < vbb15,1)}
set{vbb114,count(bearpower > vbb5,1)}

set{var23,vbb113 1 day ago}
set{var24,vbb114 1 day ago}

set{var21,vbb113 + var23}
set{var22,vbb114 + var24}
set{trigger,var21 + var22}

draw bearpower on plot bullpower
draw vbb114
draw vbb113

rsi(2) < 30
williams %r(2) < -50
volume > 10000
close above .3
bullpower < bullpower 1 day ago
bearpower > bearpower 1 day ago
1 day slope Linear Regression(60,1.0) > .030
bearpower 1 day ago < bearpower 2 day ago

chart-length is 2-months

Draw RSI(2)
Draw Williams %R(2)

add column trigger
add column BLxBL
add column BRxBR
add column RSI(2)
add column Williams %R(2)

sort column 5 descending



Set{Bullpower, high minus ema(13)}
Set{Bearpower, low minus ema(13)}
set{vvol,avgvol(90) * 1.75}

draw bearpower on plot bullpower

williams %r(2) 1 day ago < williams %r(2) 2 day ago
williams %r(2) 1 day ago < williams %r(2)
williams %r(2) between -0.00 and -51
williams %r(2) 1 day ago below -48
bearpower above 0

add column williams %r(2)
add column vvol

close > .3
volume > vvol
vvol > 100000
sort column 5 descending


Fetcher[show stocks where close is above 2
60 day slope of close is above 0
draw Bollinger Bands(20)
Set{Bullpower, high minus ema(13)}
Set{Bearpower, low minus ema(13)}
set{BLb,days(BullPower is above BullPower 1 day ago,100)}
set{BLa,days(BullPower is below BullPower 1 day ago,100)}
set{BLxBL, BLa - BLb}
set{BRb,days(BearPower is above BearPower 1 day ago,100)}
set{BRa,days(BearPower is below BearPower 1 day ago,100)}
set{BRxBR, BRa - BRb}
Bullpower has been decreasing the last 1 day
Bearpower has been increasing the last 1 day
Bearpower is below 0
Draw Bullpower
Draw Bearpower
add column BLxBL
add column BRxBR
average volume(90)is above 100000
volume is above 100000
sort column 6
date offset 2/15/06

/* NORMALIZE accumulation distribution */

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

/* NORMALIZE momentum(12) */

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


set{ccval, INDPOSITION(CCI(14), 60) * 100 }

/* NORMALIZE williams %r(10) */

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


and draw wrval
and draw adval on plot wrval
and draw moval on plot wrval
and draw ccval on plot wrval

add column adval
add column ccval
add column moval
add column wrval

adval is between 82 and 94
ccval is Below 30
moval is Below 30
wrval is Below 30

- Ignore arby347 6/17/2008 8:47:49 PM

Riggs, many years ago I was an undergraduate majoring in psychology and someone noted that multitudes of people who wrote and interpreted Freud never read anything he wrote, just other people's works about him.

As I said, it would be nice if everyone who is interested in this topic read at least
"Trading for a Living". Are any of his other books worth reading also?

Obviously I am very interested in this otherwise I would not be trying to revive discussion and sharing.

Riggs, I am sure that Jimhbutton and me are not the only ones who were interested in what you were contributing. I hope you see it fit to bury the hatchet, ignore negative postings and help those of us who are trying to find something that will be useful.

On the contrary to what was posted, I would think that if you gave trades in real time that you could have been accused of security law violation if you preceded
the recommendation with trades.

- Ignore arby347 6/18/2008 9:56:41 AM

Thanks Chetron. We have to be reminded that even in the NHL they take a break from the usual and actually play hockey.

I was hoping that by making a new thread for educational purposes that the back and forth dispute postings
would remain in the other Elder threads.

- Ignore WALLSTREETGENIUS 6/18/2008 10:05:40 AM

If you look at a 3 month chart of the S&P, you'll notice the E.R. is seting up for some nasty divergence. tomorrow should be yet another down day, and E.R. should flatten out, and create a bottom. Do you see how Bullpower today is falling and converging? That's a tell-tail-sign, that a bottom is immenent...creating a double bottom in the S&P. But again, look at the divergence in E.R. Talk about bullish divergence....


- Ignore ludowillems 6/18/2008 10:18:30 AM

After having read this load of ego-tripping nonsense, could I ask those with sufficient brains and maturity to pick up where arby347 started, the very first post in this tread.( If I were to look for ego-trippers, I would watch the political news on my local TV station.) Please behave yourself. For those who can't: I will use the "ignore" button. Kind regards, Ludo Willems

- Ignore chetron 6/18/2008 12:04:02 PM


- Ignore nikoschopen 6/18/2008 12:23:09 PM


Dude, you have mail (supposedly from moi).

- Ignore chetron 6/18/2008 12:27:57 PM


- Ignore nikoschopen 6/18/2008 12:34:11 PM

In addition to QT, you can also get free CoolTrade (automated trading) and NinjaTrader (simulated trading) through TD Ameritrade.

- Ignore chetron 6/18/2008 12:46:00 PM

thanx, niko.

- Ignore arby347 6/18/2008 12:49:28 PM

I am not sure this as good a find as QT, but I was e-mailed this:

'm a big fan of MarketClub. The charting tools, data downloads,
scanning capabilities, and technical analysis videos are useful
tools that cover areas and generate ideas that would have otherwise
been missed. MarketClub is on my very short go-to list. Here's the

On Monday June 16th at 12:01am EST, MarketClub is offering a 2 week
trial memebership with premium, unrestricted access. This is a
worthwhile opportunity that only comes around once a year!

No payment info is needed for the trial, just your commitment to
give MarketClub your attention for the full 2 Weeks. If you
register at the beginning, you will have the maximum time allotted
to use and learn MarketClub. I understand there are special bonuses
at the end of the trial which are yours to keep regardless of
whether or not you decide to extend as a premium member.

Here is the URL:

- Ignore johnpaulca 6/18/2008 12:51:53 PM

Chetron: probably why it's tanking....imho

- Ignore chetron 6/18/2008 1:07:46 PM

thanx jp, great info.

- Ignore EdmondDantes 6/18/2008 10:02:48 PM

Hello Riggs ,
Please keep working at your filters they were enjoyed here . You could be wrong but that's OK because progress is made is through many ( hundreds) of corrections . Do not give up ever . Remember what what Mr. Elder said within trading for a living that there is a huge drop in intelligence within a group dynamic . Pick up a book just released at your local book store called Sway its will help you understand irrational attacks . Let me leave you with these words from W.D Gann from Tunnel Through The Air on Page 43. A poem .

Somebody said that it could not be done ,
but , with a chuckle , he replied that maybe it couldn't , but he would be one who wouldn't say so till he tried.
So he buckled right in , with the trace of a grin
on his face. If he worried he hid it ,
He started to sing as he tackled the thing
that couldn't be done and he did it .

Somebody scoffed : " Oh you'll never do that :
at least it has never been done, "
But he took off his coat and he took of his hat,
And the first things we knew he'd begun it ,
With the lift of his chin , and a bit of a grin,
Without any doubting or quitting ,
He started to sing and tackled the thing
That couldn't be done , and he did it .

There are thousands to tell you it cannot be done ,
There are thousands to prophesy failure ;
There are thousands to point out to you , one by one,
The dangers that wait to assail you;
But just buckle in with a bit of a grin ,
Then take off your coat and go to it ;
Just start in to sing and tackle that thing,
That cannot be done and you'll do it .

Many are engineers few are inventors .


modified 6/18/2008 10:45:52 PM

Chris -

Thank you so much for posting that. I think EVERYONE should read "Tunnel through the air!" It's one of my all time favorite books! I have 2 litho's behind my desk at home, and they are Mr Gann and Warren Buffett! Many of my filters have been centered around his teachings. He has made chart reading for me become second nature because of his first book "truth of the stock tape." Believe it or not...that book you are speaking of, had Mr Gann predicting the Attack of Japan on U.S. soil! The book was published I believe 2 years before "the crash" of 1929! He KNEW the huge run-up at the time wouldn't last. If that poem you posted by him doesn't motivate you...nothing will!

Great job Chris, and thank you...


- Ignore WALLSTREETGENIUS 6/19/2008 9:33:49 AM

JohnPaulca -

I love your idea with the (13,.10) diviation...but the more I look at it...isn't it just a 13-day ema? What's the purpose of the bands to begin with. I'm always eagar to learn new things, so would you take a few minutes to explain how you came up with this trading system, and how you use it? Whatever you are's impressive none-the-less.



- Ignore chetron 6/19/2008 9:41:27 AM


11,734 posts
msg #64024
Ignore johnpaulca
6/19/2008 12:18:45 PM

Riggs...thanks for your kind words.

- prefer not to discuss it on the forum at this time.

e-mail me


983 posts
msg #64025
6/19/2008 12:21:13 PM

John -

I completely understand. I'll get with you soon. I've something cool to share with you as well...


745 posts
msg #64026
Ignore maxreturn
6/19/2008 12:24:02 PM

Oh come on guys...share with the rest of the class. Wah! Wah!

11,734 posts
msg #64028
Ignore johnpaulca
6/19/2008 12:38:16 PM

SYNA...a "safe" buy occurs if the open is above my lower BBand(40), the upper band will act as resistance.

Image and video hosting by TinyPic

983 posts
msg #64029
6/19/2008 12:46:58 PM

...what's that "JP-Crystal ball" down there...while price is falling, that indicator is rising. What is that, that you use?...or is this e-mail info?...



11,734 posts
msg #64030
Ignore johnpaulca
6/19/2008 12:59:54 PM

Riggs: That was your idea bro...I use a longer period...100days and then look for con/div
-neoticker plots it inversely.

983 posts
msg #64031
6/19/2008 1:15:08 PM that's what?....OBV(100) inverted with a BB(3) on plot?....

StockFetcher Forums · Filter Exchange · Arby347's The New Elder Thread<< 1 2 >>Post Follow-up

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