Kevin_in_GA
4,599 posts
msg #85684
- Ignore Kevin_in_GA |
1/6/2010 11:01:53 PM
Just posting an upgrade to a filter I had written and posted last night. The basic premise is that if the market is moving up, more stocks will advance than decline, and the daily advancing volumes will be higher than the declining volumes. Seems reasonable.
I had to dig through the many indices that stockfetcher tracks but eventually found exactly what I was looking for - NYSE up and down volumes, as well as the number of advancing and declining stocks each day. Since the NYSE accounts for the majority of all trading stocks and volumes, this should be a reasonably good indicator of market health and direction.
Here is the code, with SPY as the market surrogate - works the same for DIA or QQQQ.
Obviously, one would go long when these oscillators are above 1.0, and sell or go short when they dip below.
Kevin
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