Registered User Joined: 11/19/2015 Posts: 459
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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.
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Worden Trainer
Joined: 10/7/2004 Posts: 65,138
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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 Personal Criteria Formulas TC2000 Support Articles
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Registered User Joined: 11/19/2015 Posts: 459
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Hi, Bruce. Thank you very much for offering ideas around the problem. This is very helpful.
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Worden Trainer
Joined: 10/7/2004 Posts: 65,138
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You're welcome.
-Bruce Personal Criteria Formulas TC2000 Support Articles
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