StockFetcher Forums · Filter Exchange · MACD/RSI Divergence Filter<< >>Post Follow-up
88 posts
msg #48947
Ignore cello13
1/5/2007 3:37:17 AM

Hi all

I think, some will like this filter.

Thanks to TRO and Riggs for some parts of it, which I put in. Please tell me your thoughts and - of course - your suggestions!

Fetcher[dma(28,-14) more than 5 % above close
close 1 day ago is more than 5% below close 6 days ago
rsi(2)1 day ago above rsi(2)6 days ago
macd histogram(4,8) 1 day ago above macd histogram(4,8) 6 days ago
macd histogram(4,8) increasing for the last 1 day

average volume(90) above 100000
market is not otcbb

Set{MACDDiff, MACD fast line(4,8) - MACD slow line(4,8) }
set{MACDb,days(MACDDiff is above MACDDiff 1 day ago,100)}
set{MACDa,days(MACDDiff is below MACDDiff 1 day ago,100)}

Draw MA(20)
Average volume(90)is above 100000
Add column DMA(28,-14)
Add column MACDX
Add column wrval
sort column 7 ascending
close is between 0.5 and 50
market is not otcbb


/* NORMALIZE accumulation distribution */

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


set{rsval, INDPOSITION(RSI(7), 60) * 100}


set{ccval, INDPOSITION(CCI(7), 60) * 100 }

/* NORMALIZE williams %R(7) */

set{wrval, INDPOSITION(williams %R(7), 60) * 100 }

and draw wrval
and draw adval on plot wrval
and draw rsval on plot wrval
and draw ccval on plot wrval
draw linear regression(60)

set{Diff, DMA(28,-14) minus close}
set{Diff%, Diff * 100 divided by close}

add column diff%

983 posts
msg #48956
1/5/2007 12:10:29 PM

Cello -

Looks as though you have been paying close attention. As a suggestion, I would go with a "DMA 3% above close" rather than 5%. I used to use 5% when I first constructed DMA, but found many more hits with 3%. Good luck with your filter Cello, looks to be a fine one at that.


88 posts
msg #49039
Ignore cello13
1/8/2007 11:22:03 AM

Hi Riggs

Thx for your advice. I tried both - 3% and 5% - and the difference in Results in not that great. 5% took out a lot of the "red" ones ;-).

What do you think about the market direction actually? In my opinion, we're still in a bull market with a short correction... Despite, I don't like the bearish engulfing (weekly chart) on QQQQ 4 weeks ago.


35 posts
msg #49290
Ignore bloosteak
1/16/2007 2:08:29 AM

one of the results was ALY, I don't see any divergence. where is it?

834 posts
msg #49301
Ignore marine2
1/16/2007 12:54:14 PM

I added an extra line to show companies filtered here with its price rising on trend basis. I added "and ma(50) increasing previous 3 days". Yes, it cuts the filtered numbers down but when I did the backtest with my particular exit parameters it really made alot of money in the designated time frame. It made over $20,000 dollars.
I am not sure however why a particular filter such as this would show a negative ROI ? It doesn't make sense when at the same time it shows it made over $20,000 bucks on trades during the designated period? Run it out and see if you see what I am seeing.

88 posts
msg #49322
Ignore cello13
1/17/2007 2:42:50 AM


Look at the RSI(2). While close made a new low, RSI(2) didn't as well... may have a look at it @ You'll see, what I mean...


Don't care about backtesting. I prefer having a look at the charts myself. Just a few days back. Most of the shares have an upwards move after finding them. Of course, a lot of them will correct this movement again and result will be negative... That's the matter of backtesting IMO!

834 posts
msg #49338
Ignore marine2
1/17/2007 5:03:26 PM

I stand corrected concerning what I was stating on my earlier posting. I was stating that from this filter I was getting a backtest result with a negative ROI figure well that was not correct. I had my backtest setting wrong and now it shows a very positive number. I also stated incorrectly that this filter made during my designated period over $20,000 well with my backtest setting correction that too is not correct, it now shows a profit of over $15,000 instead. All happy info on this filter I may add.

Backtesting does give you a warm and fuzzy feeling on a particular filter opposed to another one. With all the filters we do produce in here it does make sense to have a way to find the better ones and use them instead of not knowing which ones are the best in a blind way. Backtesting for many of us helps to simplify our filter use.

88 posts
msg #49350
Ignore cello13
1/18/2007 5:09:37 AM

I don't mind if you backtest and publish your results. Despite there are a few bugs in backtesting, it shows, which filters may have better results. So it's possible to compare them. IMO it's best to have a direct look at the results, when you decide to use a filter...

834 posts
msg #49370
Ignore marine2
1/18/2007 10:17:10 PM

Bottomline is, you have a very nice filter you created.

88 posts
msg #49375
Ignore cello13
1/19/2007 2:11:07 AM

Thx for the compliments! Hope you'll make some $ with it :-)

Take "share" :-)

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