Registered User Joined: 5/28/2009 Posts: 39
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Hi...I want to scan for stocks that have been trending up in an orderly fashion over the last 6 months.
I want to avoid stocks that have gapped up massivly and just moved sideways since...or stocks that make large moves up and down.
A good example of what I am looking for is HTLF. If you plot a 150 day linear regression line you can see how closely price has stuck to this line...it's been a fast but orderly ascent.
Is such a scan possible?
Many thanks!
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Registered User Joined: 10/9/2011 Posts: 485
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There has been lot of discussion in this forum for defiing uptrends and associated forumulas.
You may want to search for the same to get more ideas.
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Worden Trainer
Joined: 10/7/2004 Posts: 65,138
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Ideally based on your description we would subtract the actual price at each bar from the value of the linear regression at each bar.
We would either take the absolute value of the difference at each point and average them or we would square the difference at each point and add them together before take a square root of the total.
We'd then probably need to express this as a percentage of price or something to make comparisons between symbols make sense.
But implementing that particular algorithm in Personal Criteria Formula in TC2000 would result in a formula which is way too long and slow to be practical or post in the forums.
-Bruce Personal Criteria Formulas TC2000 Support Articles
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