 Platinum Customer
Joined: 3/31/2006
Posts: 3,207
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Is thee a way in Telechart I can screen out stocks out of the Us stocks watch list that for majority of the last 5 years let say 75% their price was under $5 and their market cap was less than a 100 million?
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Worden Trainer
Joined: 10/7/2004
Posts: 65,138
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I can't really think of a practical method. Market Capitalization is one of the built in Fundamental System Criteria, but TeleChart only has the most recent value (Blocks has historical values with Strategy Trader).
While it is theoretically possible to create a Personal Criteria Formula to find if Price was less than $5.00 for 75% of the time during the last 5-Years, this would involve a formula that would need to test over 1200 Price points individually. It would be very long. It might even be too long to be practical (although I haven't actually tried writing it yet).
-Bruce
Personal Criteria Formulas
TC2000 Support Articles
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Platinum Customer
Joined: 3/31/2006
Posts: 3,207
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Bruce,
Forget it. My goal was to reduce the # of the stocks in the watch list because I have to use the Ranked weighted quarters you created rather than weighted quarters.
Maybe the value that matches a ranking of 75 or greater today is 5% but a year ago that value was 10% or 2 years ago it was 15% so since that changes I can't use weighted quarters and the value that matches 75 rank today I have to use the Ranking.
I have taken out all ETF's so it's down to little less than 6000 stocks and I was looking to see if I can remove most of the tiny little stocks that won't make much of a difference so I can make the list even smaller.
Do you have any suggestions?
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Worden Trainer
Joined: 10/7/2004
Posts: 65,138
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The following Personal Criteria Formulas should return True for Symbols where Price was less than $5.00 for 75% of the time during the last 5-Years:
Warning: Long Personal Criteria Formulas can dramatically increase the time it takes to update your PCFs.
ABS((C < 5) + (C1 < 5) + (C2 < 5) + (C3 < 5) + (C4 < 5) + (C5 < 5) + (C6 < 5) + (C7 < 5) + (C8 < 5) + (C9 < 5) + (C10 < 5) + (C11 < 5) + (C12 < 5) + (C13 < 5) + (C14 < 5) + (C15 < 5) + (C16 < 5) + (C17 < 5) + (C18 < 5) + (C19 < 5) + (C20 < 5) + (C21 < 5) + (C22 < 5) + (C23 < 5) + (C24 < 5) + (C25 < 5) + (C26 < 5) + (C27 < 5) + (C28 < 5) + (C29 < 5) + (C30 < 5) + (C31 < 5) + (C32 < 5) + (C33 < 5) + (C34 < 5) + (C35 < 5) + (C36 < 5) + (C37 < 5) + (C38 < 5) + (C39 < 5) + (C40 < 5) + (C41 < 5) + (C42 < 5) + (C43 < 5) + (C44 < 5) + (C45 < 5) + (C46 < 5) + (C47 < 5) + (C48 < 5) + (C49 < 5) + (C50 < 5) + (C51 < 5) + (C52 < 5) + (C53 < 5) + (C54 < 5) + (C55 < 5) + (C56 < 5) + (C57 < 5) + (C58 < 5) + (C59 < 5) + (C60 < 5) + (C61 < 5) + (C62 < 5) + (C63 < 5) + (C64 < 5) + (C65 < 5) + (C66 < 5) + (C67 < 5) + (C68 < 5) + (C69 < 5) + (C70 < 5) + (C71 < 5) + (C72 < 5) + (C73 < 5) + (C74 < 5) + (C75 < 5) + (C76 < 5) + (C77 < 5) + (C78 < 5) + (C79 < 5) + (C80 < 5) + (C81 < 5) + (C82 < 5) + (C83 < 5) + (C84 < 5) + (C85 < 5) + (C86 < 5) + (C87 < 5) + (C88 < 5) + (C89 < 5) + (C90 < 5) + (C91 < 5) + (C92 < 5) + (C93 < 5) + (C94 < 5) + (C95 < 5) + (C96 < 5) + (C97 < 5) + (C98 < 5) + (C99 < 5) + (C100 < 5) + (C101 < 5) + (C102 < 5) + (C103 < 5) + (C104 < 5) + (C105 < 5) + (C106 < 5) + (C107 < 5) + (C108 < 5) + (C109 < 5) + (C110 < 5) + (C111 < 5) + (C112 < 5) + (C113 < 5) + (C114 < 5) + (C115 < 5) + (C116 < 5) + (C117 < 5) + (C118 < 5) + (C119 < 5) + (C120 < 5) + (C121 < 5) + (C122 < 5) + (C123 < 5) + (C124 < 5) + (C125 < 5) + (C126 < 5) + (C127 < 5) + (C128 < 5) + (C129 < 5) + (C130 < 5) + (C131 < 5) + (C132 < 5) + (C133 < 5) + (C134 < 5) + (C135 < 5) + (C136 < 5) + (C137 < 5) + (C138 < 5) + (C139 < 5) + (C140 < 5) + (C141 < 5) + (C142 < 5) + (C143 < 5) + (C144 < 5) + (C145 < 5) + (C146 < 5) + (C147 < 5) + (C148 < 5) + (C149 < 5) + (C150 < 5) + (C151 < 5) + (C152 < 5) + (C153 < 5) + (C154 < 5) + (C155 < 5) + (C156 < 5) + (C157 < 5) + (C158 < 5) + (C159 < 5) + (C160 < 5) + (C161 < 5) + 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(C1008 < 5) + (C1009 < 5) + (C1010 < 5) + (C1011 < 5) + (C1012 < 5) + (C1013 < 5) + (C1014 < 5) + (C1015 < 5) + (C1016 < 5) + (C1017 < 5) + (C1018 < 5) + (C1019 < 5) + (C1020 < 5) + (C1021 < 5) + (C1022 < 5) + (C1023 < 5) + (C1024 < 5) + (C1025 < 5) + (C1026 < 5) + (C1027 < 5) + (C1028 < 5) + (C1029 < 5) + (C1030 < 5) + (C1031 < 5) + (C1032 < 5) + (C1033 < 5) + (C1034 < 5) + (C1035 < 5) + (C1036 < 5) + (C1037 < 5) + (C1038 < 5) + (C1039 < 5) + (C1040 < 5) + (C1041 < 5) + (C1042 < 5) + (C1043 < 5) + (C1044 < 5) + (C1045 < 5) + (C1046 < 5) + (C1047 < 5) + (C1048 < 5) + (C1049 < 5) + (C1050 < 5) + (C1051 < 5) + (C1052 < 5) + (C1053 < 5) + (C1054 < 5) + (C1055 < 5) + (C1056 < 5) + (C1057 < 5) + (C1058 < 5) + (C1059 < 5) + (C1060 < 5) + (C1061 < 5) + (C1062 < 5) + (C1063 < 5) + (C1064 < 5) + (C1065 < 5) + (C1066 < 5) + (C1067 < 5) + (C1068 < 5) + (C1069 < 5) + (C1070 < 5) + (C1071 < 5) + (C1072 < 5) + (C1073 < 5) + (C1074 < 5) + (C1075 < 5) + (C1076 < 5) + (C1077 < 5) + (C1078 < 5) + (C1079 < 5) + (C1080 < 5) + (C1081 < 5) + (C1082 < 5) + (C1083 < 5) + (C1084 < 5) + (C1085 < 5) + (C1086 < 5) + (C1087 < 5) + (C1088 < 5) + (C1089 < 5) + (C1090 < 5) + (C1091 < 5) + (C1092 < 5) + (C1093 < 5) + (C1094 < 5) + (C1095 < 5) + (C1096 < 5) + (C1097 < 5) + (C1098 < 5) + (C1099 < 5) + (C1100 < 5) + (C1101 < 5) + (C1102 < 5) + (C1103 < 5) + (C1104 < 5) + (C1105 < 5) + (C1106 < 5) + (C1107 < 5) + (C1108 < 5) + (C1109 < 5) + (C1110 < 5) + (C1111 < 5) + (C1112 < 5) + (C1113 < 5) + (C1114 < 5) + (C1115 < 5) + (C1116 < 5) + (C1117 < 5) + (C1118 < 5) + (C1119 < 5) + (C1120 < 5) + (C1121 < 5) + (C1122 < 5) + (C1123 < 5) + (C1124 < 5) + (C1125 < 5) + (C1126 < 5) + (C1127 < 5) + (C1128 < 5) + (C1129 < 5) + (C1130 < 5) + (C1131 < 5) + (C1132 < 5) + (C1133 < 5) + (C1134 < 5) + (C1135 < 5) + (C1136 < 5) + (C1137 < 5) + (C1138 < 5) + (C1139 < 5) + (C1140 < 5) + (C1141 < 5) + (C1142 < 5) + (C1143 < 5) + (C1144 < 5) + (C1145 < 5) + (C1146 < 5) + (C1147 < 5) + (C1148 < 5) + (C1149 < 5) + (C1150 < 5) + (C1151 < 5) + (C1152 < 5) + (C1153 < 5) + (C1154 < 5) + (C1155 < 5) + (C1156 < 5) + (C1157 < 5) + (C1158 < 5) + (C1159 < 5) + (C1160 < 5) + (C1161 < 5) + (C1162 < 5) + (C1163 < 5) + (C1164 < 5) + (C1165 < 5) + (C1166 < 5) + (C1167 < 5) + (C1168 < 5) + (C1169 < 5) + (C1170 < 5) + (C1171 < 5) + (C1172 < 5) + (C1173 < 5) + (C1174 < 5) + (C1175 < 5) + (C1176 < 5) + (C1177 < 5) + (C1178 < 5) + (C1179 < 5) + (C1180 < 5) + (C1181 < 5) + (C1182 < 5) + (C1183 < 5) + (C1184 < 5) + (C1185 < 5) + (C1186 < 5) + (C1187 < 5) + (C1188 < 5) + (C1189 < 5) + (C1190 < 5) + (C1191 < 5) + (C1192 < 5) + (C1193 < 5) + (C1194 < 5) + (C1195 < 5) + (C1196 < 5) + (C1197 < 5) + (C1198 < 5) + (C1199 < 5) + (C1200 < 5) + (C1201 < 5) + (C1202 < 5) + (C1203 < 5) + (C1204 < 5) + (C1205 < 5) + (C1206 < 5) + (C1207 < 5) + (C1208 < 5) + (C1209 < 5) + (C1210 < 5) + (C1211 < 5) + (C1212 < 5) + (C1213 < 5) + (C1214 < 5) + (C1215 < 5) + (C1216 < 5) + (C1217 < 5) + (C1218 < 5) + (C1219 < 5) + (C1220 < 5) + (C1221 < 5) + (C1222 < 5) + (C1223 < 5) + (C1224 < 5) + (C1225 < 5) + (C1226 < 5) + (C1227 < 5) + (C1228 < 5) + (C1229 < 5) + (C1230 < 5) + (C1231 < 5) + (C1232 < 5) + (C1233 < 5) + (C1234 < 5) + (C1235 < 5) + (C1236 < 5) + (C1237 < 5) + (C1238 < 5) + (C1239 < 5) + (C1240 < 5) + (C1241 < 5) + (C1242 < 5) + (C1243 < 5) + (C1244 < 5) + (C1245 < 5) + (C1246 < 5) + (C1247 < 5) + (C1248 < 5) + (C1249 < 5) + (C1250 < 5) + (C1251 < 5) + (C1252 < 5) + (C1253 < 5) + (C1254 < 5) + (C1255 < 5) + (C1256 < 5) + (C1257 < 5) + (C1258 < 5) + (C1259 < 5)) > 944
If you would like to try the same thing using Blocks instead, please download the attached .scond files to:
\My Documents\Blocks Files\Tool Parts\Strategy Conditions
Once downloaded, you should be able to select Add Condition | My Computer when adding a Strategy Condition to access them.
You can use QuickEdit to adjust the settings or view the Block Diagrams.
You will probably want to use it as a Scan Only Condition.Attachments:
Price.scond - 5 KB, downloaded 805 time(s).
-Bruce
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Platinum Customer
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Wow I can't believe you spend the time to write this. Thanks
let me ask you this does the Weighted quarters ranking take a long time because it has to rank the stocks or is it because of the way its weighted, last quarter 40% and the three quarters before that each with 20%?
Will it make it a lot better if we just rank them based on their 1 year performance without any weighting to any one quarter? Just list all stocks by 1 year performance and take the top 25% will this make it run easier?
I ran a test yesterday using the ranked weighted quarters, the start date was 1/1/2003 with almost 6000 stocks in my watch list it did finish the test in 6 hours, that I don't have a problem with but when I wanted to space bar through stocks it kept freezing.
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Worden Trainer
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It mostly takes a long time because it has to rank the stocks (it gets a lot worse as more symbols and history are used... in a way that far exceeds linear). It might make things a little quicker to rank them based just on their 1 year performance, but not much.
That said, I've created alternative versions that I'm hoping will work more quickly for you despite having Block Diagrams that are significantly more complex. Please download the attached .scond files to:
\My Documents\Blocks Files\Tool Parts\Strategy Conditions
Once downloaded, you should be able to select Add Condition | My Computer when adding a Strategy Condition to access them.
You can use QuickEdit to adjust the settings or view the Block Diagrams.
The descriptions are contained in my Thursday, October 11, 2007 7:13:43 PM ET post in fundamentals.Attachments:
Industry Rank vs Industries.scond - 6 KB, downloaded 794 time(s).
Ranked Weighted PPC.scond - 11 KB, downloaded 849 time(s).
Ranked Weighted Quarters.scond - 11 KB, downloaded 809 time(s).
Sub Industry Rank (Avg Net).scond - 7 KB, downloaded 813 time(s).
Sub Industry Rank (unweighted).scond - 7 KB, downloaded 804 time(s).
-Bruce
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Platinum Customer
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Bruce,
What do I need to do to these to be able to plot them as an indicator? It seems whatever you did to make it faster works can you do the same with the ones we can plot please?
Thanks
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Worden Trainer
Joined: 10/7/2004
Posts: 65,138
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I can't think of any changes that could be made to decrease the time it takes to calculate the Plotted versions.
The new versions of the Strategy Conditions calculate a Value for the appropriate Rank at each point in time and then compares the Value calculated for the symbol to the Value calculated for the Rank. The old version calculated a Rank for each symbol. This optimization is not applicable to the Plots.
-Bruce
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Platinum Customer
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Howcome the EPS on GOOG or FSLR or I am assuming its on all IPO's doesn' show up for a year from when they went public.
on FSLR Percent revenue last qtr is there but not EPS % change. on GOOG it took a year from when it went public.
Ay reason for this?
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Worden Trainer
Joined: 10/7/2004
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EPS Percent Change (Latest Q) - The percentage change in earnings per share from the comparable quarter a year before. Timely stocks will usually have strong recent quarterly earnings to validate the annual earnings strength. This reads in percentage.
EPS Percent Change (2nd Q back) - The percentage change in earnings per share from the comparable quarter a year before.
EPS Percent Change (3rd Q back) - The percentage change in earnings per share from the comparable quarter a year before.
EPS Percent Change (4th Q back) - The percentage change in earnings per share from the comparable quarter a year before.
EPS Percent Change (Latest Yr) - The percentage change in earnings for the latest 4 quarters compared to the preceding 4 quarters. An appropriate criterion to include in many types of screens. Also a common criterion to sort by, with the best earners on top.
You may wish to review the following:
Definitions of all built in scanning and sorting criteria
-Bruce
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Platinum Customer
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Bruce I think you misunderstood my question.
Plot EPS % change latest qtr and percent change revenue latest qtr for GOOG, FSLR and TELOZ. these are just few examples.
TELOZ went public in 1995 but its EPS and sales % change started to plot in 2001.
FSLR came public little more than a year ago its percent change revenue has been plotted for the last 3 quarters but its EPS % change hasn't yet.
I am trying to see if there is a reason for this.
At first I thought it will take a year because it needs to compare it with the #'s from a year ago same quarter so it needs 1 year of data before it plots it but I don't think that's true because it plots the sales on FSLR how come it doesn't plot EPS, or on GOOG it went public in Sep of 04 the EPS and Sales started to plot in May of 05.
The problem this creates for me, I know FSLR sales and EPS % change is above 25% but since its not available in the system it won't meet all the buy conditions and the stock will never be traded but it's price appreciation is part of the buy and hold equity line that we compare every test to.
Can you find why it does this is it because the data is not available?
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Worden Trainer
Joined: 10/7/2004
Posts: 65,138
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One thing to consider are that we do not have EPS history for as long a period as we have Price history.
Another thing to consider is that we cannot calculate an EPS % change if one or more of the EPS values used in the calculation is less than or equal to zero.
Also, an EPS % change for the most recent quarter would require at least 5 quarters of data. 1 Quarter back would require at least 6 quarters of data. 2 quarters back would require at least 7 quarters of data. 3 quarters back would require at least 8 quarters of data (as would EPS % change for an entire year).
-Bruce
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Platinum Customer
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Thanks I get it now.
Help me understand the equity lines please
The Buy and Hold, Buys equal amount of every single stock in your watch list and hold it until the end.
The Strategy equity line buys an equal amount of all stocks that meet your conditions. It assumes that an unlimited equity is available.
let say the system is using 10,000 per trade if ABC stock screens through today it will buy 10,000 worth and sells it two weeks later for whatever reason. If it screens through again two months later it will buy again 10,000 worth?
and it assumes that a 100% of your money line is always being invested?
By that I mean let say in the month of October my system held a 100 stocks and it gained 15% for the month but it the month of November my system held only 10 stocks and they lost an average of 15% so the Equity line will show a 15% gain in October and a 15% drop in November it doesn't take into account that 90% of your money line is in cash.
Am I correct on this?
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Worden Trainer
Joined: 10/7/2004
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QUOTE (thnkbigr) The Strategy equity line buys an equal amount of all stocks that meet your conditions. It assumes that an unlimited equity is available.
I apologize, but I don't have the slightest idea of what this sentence is supposed to mean.
QUOTE (thnkbigr) let say the system is using 10,000 per trade if ABC stock screens through today it will buy 10,000 worth and sells it two weeks later for whatever reason. If it screens through again two months later it will buy again 10,000 worth?
You start with a $100. If you have a position in at least one symbol, all of your equity is invested and equally divided between your positions.
QUOTE (thnkbigr) and it assumes that a 100% of your money line is always being invested?
That it does.
QUOTE (thnkbigr) By that I mean let say in the month of October my system held a 100 stocks and it gained 15% for the month but it the month of November my system held only 10 stocks and they lost an average of 15% so the Equity line will show a 15% gain in October and a 15% drop in November it doesn't take into account that 90% of your money line is in cash.
None of your money is in cash. If you had your money invested in 100 stocks one month and 10 stocks the next month, a higher percentage of your equity (ten times as much) will be invested in each stock during the second month than during the first month.
The equity line is not a money management system (which is on the to-do list). You cannot gradually enter and exit symbols. You cannot assign different percentages to different symbols. You cannot specify a specific percentage to remain as cash.
-Bruce
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Platinum Customer
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thanks Bruce I get it
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Worden Trainer
Joined: 10/7/2004
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You're welcome.
-Bruce
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Platinum Customer
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Bruce take a look at the Price strategy you made for Blocks above to eliminate stocks that traded less than 5 for 75% of the tome in the last 5 years.
Now how do I screen out these stocks out of MY ALL STOCKS watch list?
My goal is to delete all of these stocks out the watch list before I run my tests so when you run a test the Buy and Hold equity line is not effected by any of these stocks.
I need to create an another watch list from MY ALL STOCKS list without these small thinly traded stocks?
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Worden Trainer
Joined: 10/7/2004
Posts: 65,138
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Frankly I would use its reverse for this purpose:
- Price: Bar Close (Last)
- is: Greater Than Value
- Value: 5
- Override TimeFrame: 1 Day
- # Bars True: 945
- Bars to Test: 1260
Test Strategy for Entire WatchList (with your MY ALL STOCKS Watchlist active) using a Scan Only Strategy and right-click on the Strategy | Results tab to bring up the context sensitive menu. Select Add to Another List | All Symbols | (New List).
It should probably be noted that a low price does not necessarily mean a thinly traded stock.
-Bruce
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Platinum Customer
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How do I do a Scan only test?
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Worden Trainer
Joined: 10/7/2004
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Select Strategy | Conditions | Scan Only.
-Bruce
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Platinum Customer
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I saw it I have to check scan only before testing the strategy.
You said I need to right click on the strategy results tab to bring up the context sensetive menu nothing comes up when I right click.
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Worden Trainer
Joined: 10/7/2004
Posts: 65,138
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My mistake, you need to actually right-click on the WatchList itself (where the stocks are listed) not the Tab (but the Tab needs to be selected first so it is displaying the current Strategy Results).
-Bruce
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Platinum Customer
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How do I see how many stocks are in the new list?
I like to do the same thing for Volume in dollars and market cap. I tried to do it my self using the Blocks diagarm that you created for price but it seems litlle too complicated.
For market cap don't I have to replace the Price 1 day block with capitalization and change greater than value of 5 to 100 so it scans out all stocks that their market cap was less than a 100 million for 75% of the last 5 years?
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Worden Trainer
Joined: 10/7/2004
Posts: 65,138
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For Market Capitalization, just add the Hemscott Financials | Criteria Raw History Value Strategy Condition. One thing to keep in mind is that it is a Weekly indicator, so you'll want to set # Bars True to 195 and Bars to Test to 260.
Please download the attached .scond file to:
\My Documents\Blocks Files\Tool Parts\Strategy Conditions
Once downloaded, you should be able to select Add Condition | My Computer when adding a Strategy Condition to access it.
You can use QuickEdit to adjust the settings or view the Block Diagram.Attachments:
Volume Dollars.scond - 6 KB, downloaded 759 time(s).
-Bruce
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Platinum Customer
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How do I see how many stocks are in the new list?
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Worden Trainer
Joined: 10/7/2004
Posts: 65,138
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You may wish to review the following:
Count items in watchlist
-Bruce
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Platinum Customer
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Bruce, I saved the WARD1 workspace and i see the items # up there but how can I save this so I can add it to any workspace I am working on rather than opening another workspace to see the items #.
When you right click on it there is no save option and nothing happens when you left click.
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Worden Trainer
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One of the options available when you right-click should be Properties. If you select this, it should bring up the Block Diagram. You can hold down ctrl and left-click and drag to highlight the Blocks in the Block Diagram. Once they are highlighted (the box will disappear, but the Blocks should have little squares along the edges), you can right-click and copy the Blocks in the Block Diagram.
You can right-click on a Pane in your other Workspace and select Patch Panels | Add Patch Panel | Whole Number. Right-clicking on this new Patch Panel and selecting Properties will bring up its Block Diagram. You should then be able to paste the desired Blocks into the Block Diagram. Make sure all of the Blocks are connected the same way there were in the other Workspace (the Whole Number Block will almost certainly need to be connected for example) and you should get your display.
-Bruce
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Platinum Customer
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I want to create a column with Volume dollars so I can sort my lists.
I created a new numeric column if I copy and paste the plot version on the Volume dollars block to create a column version will it work or is it different?
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Worden Trainer
Joined: 10/7/2004
Posts: 65,138
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It is pretty much the same, but you would need to run the output through a Last Value in Series or Value for Date Block since you want only one number instead of series of numbers. Please save the following .SGCol file in:
\My Documents\Blocks Files\Tool Parts\Columns
Once there, you can add a column by right-clicking the tab header of the WatchList, choosing load column then My Computer.
You can use QuickEdit to change the settings or view the Block Diagram.Attachments:
Volume Dollars.SGCol - 5 KB, downloaded 736 time(s).
-Bruce
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