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0002ct
 Posted : Tuesday, December 04, 2018 2:22:29 PM
Gold Customer

Joined: 11/19/2015
Posts: 459

Hello.
I'm looking for a new suggestions for identifying non-trending tickers and then a way to rank that non-trendiness by some function.

Is ADX the best way to measure for this?

For me, "non-trendiness" does not mean that a channel has to be tight. A channel can be wide over a period of time, and price can go all over place.

Idea: Is there a way to set a linear regression slopline channel? This way, I could say that there would be very little slope over some interval, but that price would bounce around inside of it...

Thank you very much.

Bruce_L
 Posted : Tuesday, December 04, 2018 2:42:42 PM

Worden Trainer

Joined: 10/7/2004
Posts: 65,138

We can't actually recommend specific indicators or settings.

That said, checking for ADX being low should be a good way to check for not being in a trend.

There are all sorts of way you could write some sort of normalized linear regression slope formula.

But one of the simplest might be something like the following:

`100 * (FAVGC50 / AVGC50 - 1)`

The above is directional, but you could make it non-directional using the absolute value function.

`100 * ABS(FAVGC50 / AVGC50 - 1)`

As far as actually making a channel and making sure price stayed inside, that would probably result in a pretty complicated formula.

-Bruce
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0002ct
 Posted : Tuesday, December 04, 2018 3:37:50 PM
Gold Customer

Joined: 11/19/2015
Posts: 459

Hi, Bruce. Thank you very much for offering ideas around the problem. This is very helpful.

Bruce_L
 Posted : Tuesday, December 04, 2018 3:41:03 PM

Worden Trainer

Joined: 10/7/2004
Posts: 65,138

You're welcome.

-Bruce
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