StockFetcher Forums · Filter Exchange · Momentum screener based on Qullamagie<< >>Post Follow-up
therm
5 posts
msg #159467
Ignore therm
modified
8/17/2022 8:50:06 AM

[Messed up the title - if moderator could add a letter g to Qullamagie so it reads Qullamaggie, thanks]

Just wanted to share the screener I have developed based on Kristjan Qullamaggie's method. It gives you the strongest stocks over a given timeframe. The below filter is for 1 month.
For 3 months, use 67 days and x > 1.50
For 6 months use 126 days and x > 2

I run the screens for these timeframes once a week and then manually filter for stocks that look like they are going to make a big move.

Feedback and comments are appreciated.


Fetcher[
/* Momentum screener based on Qullamaggie's method */
/* 1 month strongest stocks screener */

/* general */
market is not OTCBB
market is not ETF
add column exchange on left
chart-time is 6 months

/* we want fast moving stocks - bigger accounts = slower moving stocks */
average day range (20) above 5

/* stocks should have advanced at least 25% in 1 month*/
and set{x, close divided by 22 days low}
x > 1.25

/* we want stocks with certain trading volume - bigger accounts = higher dollar volume */
and set{z, close * Volume}
z > 3000000

/* we want stocks above a certain price */
and close is above 5

/* we focus on stocks that are basing and showing volatility contraction - this is not perfect, but it works fairly well */
and close is less than 25% below the high 1 week high
and close is less than 25% above the low 1 week low

/* this is an extra variable I have added based on Mark Minervini - we want stocks that are close to their 52-week high to reduce overhead resistance */
and close divided by 260 day low is above 1.3
and close divided by 260 day high is above 0.75

/* sort according to strongest advances */
set{gainers, x*100}
add column gainers on left
sort column 6
]







mursemoney
9 posts
msg #159508
Ignore mursemoney
8/27/2022 9:25:29 AM

Hey,

This looks great. I started reading about this guy and joined the discord group after I saw your post. I think they mentioned stocks need to be up 30%. Here it looks like 25% unless I'm missing something? How do you manually scan them after?

I have these 3 indicators I plan to use with the scan and then an algo from capitalise.ai
https://www.tradingview.com/script/CapG3ivf-Bjorgum-Key-Levels/
https://www.tradingview.com/script/dRvnp3hs-Bjorgum-SuperScript/
https://www.tradingview.com/script/x9qYvBYN-Andean-Oscillator/
This is the idea behind the andean oscillator
https://alpaca.markets/learn/andean-oscillator-a-new-technical-indicator-based-on-an-online-algorithm-for-trend-analysis/

this is my discord username Maguire'sFuture#0988 if you want to chat further about Qullamaggie

therm
5 posts
msg #159565
Ignore therm
9/6/2022 10:44:41 AM

Hi and sorry for the late reply. His story is amazing, but we need to remember than he has spent hours and hours training his eyes and practising and taking in information on stocks and the market. It's like Michael Jordan telling you all the tips and tricks he knows, but it won't make us great basketball players unless we practice practice practice...and even then we will probably not reach his level. This being said, it' s great foundation to learn from.

As per your questions:
- I looked it up and indeed the treshold is 30%, so one could change that in the 1 month screener.
- For the manual scan -> I export the list to a CSV, load them in excel (through the data tab), add a simple formula to achieve the TradingView import format and paste that in a text file which I import in TradingView. (Might sound complicated, but it really isn't.) I then manually screen them for interesting setups and set alerts.

I took a look at the TV indicators you have added. They seem interesting, but I have already given up at looking for an indicator that will help me to decide when to buy and when to sell. I like the sell rules of Qullamaggie. They are very simple. As for the buying, it's an art. So one needs to practice and review their trades. Trading on technicals is all about price and volume. So the only indicators I have on my TV window are moving averages and TaPlot pocket pivot indicators to easily detect accumalation and distribution days. For the rest I try to keep my chart clean. I have recently even removed the different bar colors for up and down days. I think it distracts from seeing the setup.

Additionally, I might want to say that I have temporarily disabled the volatility contraction and close to ATH requirements. The first because I also want to capture other patterns and find out what trades the best. The second because I ran into a video of Qullamaggie explaining how high RSI is not necessarily the right indicator to focus on in prolonged down markets. Often, most beaten up stocks will make the most violent moves up when the bull restarts, at least in first instance.
See here: https://www.youtube.com/watch?time_continue=14&v=iO9Brr2F8zk&feature=emb_title
That channel is full of great videos btw, also on the setups that Qullamaggie trades.




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