Gold Customer
Joined: 3/20/2005 Posts: 4
|
I do not know if this is a good question, but I will pose it anyway.
I am looking to compile a watchlist that selects the stocks with the most favorable price volume relationships over the past say 10 days.
The stocks would be rated based on the following where a stock gets a higher number for a more favorable price volume relationship:
-
If the price is up and the volume is up, then the stock gets a 2 for that day.
-
If the price is down and the volume is down, then the stock gets a 1 for that day.
-
If the price is up and the volume is down, then the stock gets a 0 for that day.
-
If the price is down and the volume is up, then the stock gets a minus 1 for that day.
Do this for each day in the period and for each stock in the list to scan. Then add the numbers for the stocks for the selected period. The stocks with the highest numbers would be selected for the watchlist.
Is this reasonable and are there indicators that already do this?
Thanks.
|
Registered User Joined: 10/9/2011 Posts: 485
|
Is your comparison today versus yesyerday?
When you say price is up, you mean today compared to yday? like h > h1 (or if u want to use close c > c1)? Volume today greater than volume yesterday (v > v1)?
|
Gold Customer
Joined: 3/20/2005 Posts: 4
|
Yes. Today's results would be for today compared to yesterday. Then yesterday's results would be for yesterday compared to the day before. And then the day before's results would be for that day compared to the day before. And continue this process for ten days. Then after 10 days, compile the totals.
So for today: if c > c1 and v > v1 then that is assigned the number 2
and if c < c1 and v < v1 then that is assigned the number 1
and if c > c1 and v < v1 then that is assigned the number 0
and if c < c1 and v > v1 then that is assigned the number -1
And then repeat for yesterday, and the day before, and the day before, ... for 10 days.
|
Worden Trainer
Joined: 10/7/2004 Posts: 65,138
|
If you want to average these numbers you could use the following Indicator Formula as the Formula in a Custom PCF Indicator with the Period set to 10 and the Average Type set to Simple.
ABS(C > C1 AND V > V1) * 2 + ABS(C < C1 AND V < V1) - ABS(C < C1 AND V > V1)
If you want the sum, you could do the same thing, but you would need to multiply the entire formula fy the Period (in this case 10).
10 * (ABS(C > C1 AND V > V1) * 2 + ABS(C < C1 AND V < V1) - ABS(C < C1 AND V > V1))
Multiplying by 10 reverses the / 10 that would be done to calculate the moving average after summing the results over the period.
How to add an indicator to a chart template
How to edit an Indicator
-Bruce Personal Criteria Formulas TC2000 Support Articles
|