wkloss
231 posts
msg #93759
- Ignore wkloss |
6/12/2010 1:35:27 PM
The book Street Smarts has a strategy that looks for :
Today, price opened in the bottom 20% of today's range and closed in the top 20% of today's range.
They also use the reverse:
Today, price opened in the top 20% of today's range and closed in the bottom 20% of today's range.
I have tried using Stockfetcher's Day Range instructions but my results don't make sense.
Street Smarts quotes statistics that stocks open which open in the bottom 20% of the day's range and close in the top 20% of the day's range have a 80-90% chance of follow through the next morning but only have a 50% chance of closing higher. There are several ways this can be used.
Please help with writing code for opening in the bottom 20% and closing in the top 20% and vice versa.
Thanks,
Bill
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Kevin_in_GA
4,599 posts
msg #93760
- Ignore Kevin_in_GA |
6/12/2010 2:08:51 PM
This may be what you are looking for ...
Day Position
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Parameters Position {0...1}
Period
Usage Day Position(pos)
Day Position(pos,period)
Day Pos(pos,period)
Description The Day Position is a basic measure that computes a value which is a percentage of the day range. In otherwords, if the position parameter is 0.5, the Day Position will be Low + ((High - Low) * 0.5). Any value from 0 to 1 may be used to locate a position within the daily range.
In addition to computing this value over a single day, a period may be specified. The measure will then find the highest high and lowest low over the given number of days and then perform the same computation as above.
Note: By default the day position period is 5 days.
Examples 1. Find stocks where the close was in the top half of the trading range for the day:
2. Find stocks where the open was in the lower quarter of the trading range for the last 1 week
In your case it would look like
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wkloss
231 posts
msg #93761
- Ignore wkloss |
6/12/2010 2:13:07 PM
Kevin,
Thanks.
Bill
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