| Welcome Guest, please sign in to participate in a discussion. | Search | Active Topics | |
Registered User
Joined: 11/30/2004
Posts: 4
|
I'm trying to write a PCF that will show the stocks that are setting their 1st New High of the year. I know I can get all new highs every day, but I want to narrow that down to just the ones that are setting their 1st new high. I should also be able to find those that are setting their 1st new low with this also. Can you help?
LDW
|
|
Worden Trainer
Joined: 10/1/2004
Posts: 18,819
|
LDW,
I am not sure what you mean by "1st" (I can be a bit slow  ).
If you can clarify this a bit for me I can take a shot at it.
Here is a PCF to try, let me know if it is what you want (test it and look at the stocks it finds).
H=MAXH250
If you can give me a ticker that is what you are hoping to find I might better understand your question.
Please let me know how the PCF works....
- Craig
Here to Help!
|
|
Registered User
Joined: 11/30/2004
Posts: 4
|
Craig
I ran my scan tonight & it had 497 new 52 week highs, but as you can imagine all of them were not the 1st new 52 week high set. I'm know the pcf you mentioned. I'm trying to spot the few new highs out of the 497 that might have been the 1st time it broke out to a new high. Let's take JCOM as an example, it's one of the 497. On 11/28/03 the stock's high was 29.25, so it broke out to it's 1st new 52 week high on 9/14/04 with a high that day of 30.33. If a scan would have found that, it has since moved to several more new highs and it's high today was 35.43. That a bad return for that amount of time. I know this is going to be difficult, because I have been trying for some time now. The problem is that the H>=MAXH250 has to change each day you look backward. I know someone smarter than me can figure it out.
LDW
|
|
Worden Trainer
Joined: 10/1/2004
Posts: 4,308
|
How about this one:
MAXH250.1 < H252 AND H > H252
Translated (assuming today as November 30, 2004): The maximum high for the one year period from November 30, 2003 through November 29, 2004 must be greater than the high on November 29, 2003. In other words,up through yesterday, the stocks price would have remained lower than the high of last November 29.
AND
Today's high is higher than the high of last November 29...for the first time this year.
I haven't tested this one yet, but I will. Try it out to see if you get what you want.
- Doug
Teaching Online!
|
|
Administration
Joined: 9/30/2004
Posts: 9,187
|
Building on Doug's formula, I think this one will do it: MAXH250.1<H252 AND H=MAXH250
52 week high yesterday is less than the high 252 days ago and today's high is the 52 week high.
Didn't find any stocks today but it's kind of a unique situation. I'll keep checking the results until I get some targets to evaluate.
|
|
Worden Trainer
Joined: 10/1/2004
Posts: 4,308
|
Actually though about doing it that way, StockGuy...after I had written it the other way. Didn't change it, though, because I think it would work either way.
I also tested my PCF and found no stocks today, but if there were any stocks hitting a first new high for the year, they should come up with a result of True.
- Doug
Teaching Online!
|
|
Registered User
Joined: 11/30/2004
Posts: 4
|
Thanks to all that's trying to help. Let me play with this for a few days & I'll report back. I will tell you of the two formulas, one came up with 1 stock and the other none. So I need to test a little more to see which is best. If ya'll come up with anything else, I would really appreciate the info.
LDW
|
|
Worden Trainer
Joined: 10/1/2004
Posts: 4,308
|
We'll be anxious for your report back! Glad we could help you with this!
- Doug
Teaching Online!
|
|
Registered User
Joined: 11/30/2004
Posts: 4
|
Just thought I would report back on the pcf for the 1st new high. The pcf that Stockguy gave seems to do the best. Now I'm trying it on different time frames. The key is that I'm trying to find stocks that are breaking out. Thanks for all the help. Am I right it assuming that this ask a trainer is not going to be available in the future,
|
|
Worden Trainer
Joined: 10/1/2004
Posts: 4,308
|
This Ask a Trainer forum will be available from now on! It's new, and the momentum is building. We're thrilled to see so many people taking advantage of these discussion forums!
- Doug
Teaching Online!
|
|
Worden Trainer
Joined: 10/1/2004
Posts: 18,819
|
ldwilson,
A great and simple method for finding breakouts is to use the visual channel sort on a linnear regression channel. See if this video gives you any ideas:
Spotting trend changes using linear regression channel sorts
- Craig
Here to Help!
|
|
Registered User
Joined: 10/7/2004
Posts: 2,126
|
I have observe the 52wk high problem. I think that the solution is alredy built into the program. Now the thing is that I do not remember whether I wrote the PCF's or they came with the program.
New High - H>=maxh250
New Low - L<=minL250
I set a scan using those 2 PCF's and also wether I want to scan NYSE or NASDAQ.
The results I always get are very similar to what you would find in IBD or Wallstreet journal.
In case you wonder I say similar because give or take about 1 to 5 % of the stocks reported are different. In any case if you take IBD and compare to WSJ you also will find diferences in their results too. But you get about 95% for sure.
|
|
|
Guest-1 |