Worden Trainer
Joined: 10/1/2004
Posts: 18,819
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If you attended the class in Atlanta, accept my thanks for taking the time to come see me (and SnapSheets).
If you have any questions about the material presented in these notes, please ask it as a comment below these notes.
I started class by showing a simple EasyScan in TeleChart that gave me a list of stocks to work with.
Here is a video to learn how to use the EasyScan: Using EasyScan to find stocks that meet your own criteria
I migrated to SnapSheets. Everything in class was done from the Personal Chartist SnapSheet.
This video gives a grand tour of the Personal Chartist: New pre-built workspace: Personal Chartist
I then explained one of the main conventions of SnapSheets; the moving and snapping of Snap-Ins.
Check out this short video to learn how to move, snap and tab Snap-Ins within your SnapSheets: Moving and Tabbing Snap-In Tools
I added a few basic studies from the Web Library to the chart (like volume, stochastics, MACD and moving average of price). I also covered another major convention in SnapSheets; The QuickEdit.
Watch this video to learn how to add studies and use the QuickEdit: Adding Chart Items (plot, markers, etc.) from the Web Library
I talked about putting your stock analysis in a larger context. I started by showing a small sample of the Industry studies you can use to put your stocks in the context of their industries. In SnapSheets, it is easy to think outside of the stock.
I added (via the ADD STUDY button) the Industry Price History indicator. This allowed me to quickly see the industry of the stock I was analyzing.
I added Symbol Relative Strength vs. Industry. This plotted the ratio of the stock and its industry chart. This allowed me to quickly see if the stock is out or under performing its industry. When the plot was rising, I know the stock was out performing its industry. When the plot was falling, I know the stock was under performing its industry.
I cleared all the panes but the original Price Pane. I created and interesting combination of plots. I added both Symbol Rank vs. Industry AND Industry Rank vs. All Industry. I set both to use the Hemscott Sub Industry. I also set both to a period of 21.
This combination allowed me to immediately know the following about every stock I went to:
- Was the stock one of the best or worst performing stocks in the group for the past 21 days?
- Was the stock’s 21-day performance gaining or losing strength vs. the other stocks in the group?
- Was the sub industry itself a strong a weak performer vs. all other groups?
- Was the group gaining or losing strength over time relative to all the other groups?
In one glance the chart reveals if its a strong or weak stock in a strong or weak sub industry. I could also see if the stock was getting stronger or weaker vs. its sub-industry and if the sub-industry was getting stronger or weaker vs. all other sub industries.
Two plots that immediately put me outside of the stock to get a greater context for the stock’s price performance.
Be sure to review this video: Do You Remember to Check a Stock's Industry Before Buying?
I shifted our focus to some of the Market-based studies available in the Web Library. I plotted an Advance/Decline line. Using the QuickEdit, I easily displayed an A/D line for several index WatchLists (like SP500 and NASDAQ 100).
I plotted the Percent of Stocks Above Moving Average plot. It quickly exposes the trend directions of the stocks in any WatchList. It reveals what percentage of stocks are in an uptrend over any set period of time.
It also allowed me to get an idea if there was growing strength or weakness in the group based on component price trends.
I then showcased the technique featured in this video: Look for a Bounce When Too Many Stocks Make a New Low at the Same Time
I explored some of the fundamental-based studies. I plotted the Fundamental Criteria Raw History plot. Using QuickEdit, I plotted several different fundamental conditions including P/E ratio and EPS Latest Quarter. This allowed me to see the fundamental trends of the stock.
I plotted a Fundamental Criteria Industry Average. This let me see the average fundamental history for all of the stocks in the industry.
I plotted the Fundamental Criteria Rank vs. Industry. This plot made it clear how the stock’s condition ranked vs. the other stocks in its industry. Like with price performance earlier in the presentation, this gave the stock’s condition a context.
I then took a few minutes to explore some of the other Snap-Ins available in the Web Library.
I added a few of the Browser Snap-Ins via the menu (Snap-Ins, Add to SnapSheet, from Web Library).
I added the following from the Browsers by Category:
Analyst Rating: Nasdaq Analyst Info
Earnings Estimates: MarketWatch Analysts Estimates
Options: ETrade Options
I showed how easy it was to Snap Snap-Ins wherever you wanted. Check out this video to review all of these conventions: Floating, Maximizing, Hiding, Deleting Snap-In Tools
I also added a few other Snap-Ins from the Web Library:
Charts: P& F Chart
Version 1.0 Archive: Overbought-Oversold Pie (which I connected to the Date Pointer)
Before we broke for lunch I covered the basic concepts of a Block and a Block Diagram.
Check out this video to review this material:
Your First 3 Block Diagrams
Customizing with Properties
To get a sense of how data can flow through a Block Diagram, I checked and explained the Block Diagrams for Price History, MovAvg and a MACD plot.
After lunch I focused on making changes and creating our own Block Diagrams.
I right-clicked and copied the Moving Average plot in the Price History pane. I then pasted the copy in the same pane. I double-clicked the copied plot and made the following changes to its properties:
I then changed the Block Diagram of the MA plot from this:
To this:
I connected [BarChart Price History 2] to a [Bar High] Block.
I connected the [Bar High] Block to a [Maximum] Block (setting the period to 10)
I connected the [Maximum] Block to the [Moving Average Front Weighted] Block
I double-clicked the and changed it to red.
This transformed the plot into a front-weighted moving average of the highest highs for a 10-bar period.
I closed the Block Diagram and use QuickEdit to change the average type to exponential and the average period to 21.
I then copied and pasted the MaxHigh plot, double clicked it and made the following changes to the Block Diagram and Properties.
I right-clicked the [Bar High] Block and replaced it with a [Bar Low]. I replaced the [Maximum] Block with a [Minimum] Block. I also changed the Legend and Name in the properties. Once closed it became an exponential moving average of the min lows. With the other plot, I now have an interesting channel to track when price goes to extremes.
I then added the WatchList Average (unweighted) plot from the Market Indicators folder in the Web Library. I double-clicked the plot and followed the data flow through the Block Diagram.
I decided to change the Block Diagram of the plot so it used the Active WatchList in the WatchList Snap-In instead of a static WatchList for its symbol list source. Here is picture of the changed Block Diagram:
I also created a simple plot from Scratch.
Right-click on the chart, go to Create New then Plot in New Pane (use the following settings):
Name: Max/Min Ratio
Plot Type: Numeric
Scale With: On Own Scale
Below is the Block Diagram for the Max/Min Ratio:
I then played around with a few True Marker plots.
I added a Stochastics plot from the Web Library via the ADD STUDY button. I then constructed two separate True Markers:
Right-click in the Price window, choose Create New then Plot with the following settings:
Name: StocBuy
Plot Type: True Markers
Scale With: Price History.2
Here is the Block Diagram and Properties:
For the second version:
Right-click in the Price window, choose Create New then Plot with the following settings:
Name: StocSell
Plot Type: True Markers
Scale With: Price History.2
Here is the Block Diagram and Properties:
I showcased how you can use the Color Plotter for any plot to color a plot based on whatever conditions you like. Here are some posts to review:
Personal Chartist with Color-Coded Price and Volume
Colored Candles (with different time frames)
Rate of Change and fundamentals (conditional coloring)
The final segment was on BackScanner.
To review everything we did in BackScanner, check out the videos on the web site (follow the link below):
BackScanner Website
Post any questions about the class content below.
Again, thanks for coming to class and taking the time to review these notes.
If you have any new questions, please use the ASK A TRAINER forum.
Here is a video on how to get the most from these forums: Learn how to use the forums: post a new topic, reply, Search existing topics
- Craig
Here to Help!
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Registered User
Joined: 12/16/2004
Posts: 14
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That was a great class in Atlanta this weekend, Thanks for your efforts to bring SnapSheets to life for us.
I asked several questions while there and was confident that I would remember how you answered when I returned home but I am drawing a BIG blank. My questions were now to do a Bollinger Bandwidth indicator. I remember how you did it but the block that I connected the top and bottom band to was not clear. I thought it was a "minus" or "difference" block but that didn't work. What I hope to do with this indicator is to make it into a histogram where the bottom 20% is red, the 20-80% as green, and the 80-100% as yellow. THEN, I would like to work out a scan that would tell me when this indicator moves up past the 20% indicating an expansion of the band and hopefully price following. Can you help me.  Thanks, Norm Bozard, Orangeburg, SC
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Worden Trainer
Joined: 10/7/2004
Posts: 65,138
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NormB,
I'm not sure on what you wish to base the Histogram percentages. The following would be one way to create a Block Diagram based on already having the Bollinger Band Study from the Web Library applied to Price. It plots Bandwidth as a percent of Price:
BarChart Bollinger Line 1 is the Upper Bollinger Band from the Bollinger Band Study. BarChart Bollinger Line 2 is the Lower Bollinger Band from the Bollinger Band Study. BarChart Price History 2 is your existing Price Plot. The Style in the upper right hand corner of the Properties window should be set to Bar.
I've attached a copy of Plot to this post. Copy it to your \My Documents\My SnapSheets\Tool Parts\Chart folder if you don't want to try re-creating the Block Diagram on your own.
Once we've figured out how to chart you indicator as desired, we can move on to creating a BackScan.Attachments:
BEL Bollinger Bandwidth.plot - 5 KB, downloaded 1,438 time(s).
-Bruce
Personal Criteria Formulas
TC2000 Support Articles
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Registered User
Joined: 10/7/2004
Posts: 114
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Great Atlanta presentation Craig... You could post these notes as a PDF as well.
Thanks
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Registered User
Joined: 10/7/2004
Posts: 114
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Another thought for future conferences...
Use Camtasia to record your desktop during the presentation (then edit down to key concepts)and offer as downloads (in parts 1,2,3,4 if necessary).
Might be less work (maybe more..) than re-writing notes.
Just a thought.
Thanks
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Registered User
Joined: 10/7/2004
Posts: 114
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Correction "Maybe more...
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Registered User
Joined: 8/9/2005
Posts: 5
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I can't get the backscanner link to work.
Great presentation on Saturday in Atlanta. Thank you.
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Worden Trainer
Joined: 10/7/2004
Posts: 65,138
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jgriffith,
I've made some changes. It should work now.
-Bruce
Personal Criteria Formulas
TC2000 Support Articles
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Registered User
Joined: 10/7/2004
Posts: 799
Location: Duluth, GA
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As usual, you did an *excellent* job Craig. It was refreshing to see so much NEW stuff ... and to hear of the plan for many things still to come. The SS platform, and BackScanner in particular, is a great step forward.
It would be nice to get an email or PDF or something from you that has all of the info above, including active links, separate from this forum. Is that possible? If so, please send it to me ... you know my contact address.
Jim Dean
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Registered User
Joined: 12/16/2004
Posts: 14
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QUOTE (Bruce_L) NormB,
I'm not sure on what you wish to base the Histogram percentages. The following would be one way to create a Block Diagram based on already having the Bollinger Band Study from the Web Library applied to Price. It plots Bandwidth as a percent of Price:
Bruce, I want the scale to the right to be 1-100% so I am not sure that I want it to plot Bandwidth as a percent of price but I have had no success playing with it. I want a histogram that clearly shows when the band it tightening 20 percent of the total expansion (100%) of the band. How do I do that? Thanks
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Worden Trainer
Joined: 10/1/2004
Posts: 18,819
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Define "total expansion"
- Craig
Here to Help!
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Registered User
Joined: 12/16/2004
Posts: 14
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QUOTE (Craig_S) Define "total expansion"
I want the widest spread of the BB width to be 100% or at least high. I want to be able to look at this histogram and instead of a line showing bandwidth, be able to see by a color change, when this BBBandwidth is starting to narrow.
Is there anyway I can paste a picture in here? I can show you exactly what it should look like. I saw it done in TradeStation even have the code to it there but I believe it can be done here in SnapSheets.
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Worden Trainer
Joined: 10/1/2004
Posts: 18,819
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Attached is a SnapSheet with Bollinger Bands and few takes on your indicator. Tell me if you any of these will work for you.
Save it in the following folder:
\My Documents\My SnapSheets\SnapSheets
Once there, you can open it via FILE and OPEN SnapSheet and choosing MY COMPUTER
The bottom pane is my guess as to what you may want.
Attachments:
Bband Ideas.bWorks - 32 KB, downloaded 1,336 time(s).
- Craig
Here to Help!
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Registered User
Joined: 12/16/2004
Posts: 14
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That's it Craig, thanks alot. I will play with that tonight. That should be a good indicator. I have it as a line only in TC but this is a lot nicer looking.
Is there a way I could scan to find stocks breaking out or the 20% range? The line formula that I got somewhere for Telechart is . . .
100x AVGC20 + 0.8 * ((((C9 - AVGC20) ^ 2 + (C8 - AVGC20) ^ 2 + (C7 -
AVGC20) ^ 2 + (C6 - AVGC20) ^ 2 + (C5 - AVGC20) ^ 2 + (C4 - AVGC20)
^ 2 + (C3 - AVGC20) ^ 2 + (C2 - AVGC20) ^ 2 + (C1 - AVGC20) ^ 2 +
(C - AVGC20) ^ 2) / 20) ^ 0.5)- AVGC20 - 0.8 * ((((C9 - AVGC20) ^ 2 + (C8 - AVGC20) ^ 2 + (C7 -
AVGC20) ^ 2 + (C6 - AVGC20) ^ 2 + (C5 - AVGC20) ^ 2 + (C4 - AVGC20)
^ 2 + (C3 - AVGC20) ^ 2 + (C2 - AVGC20) ^ 2 + (C1 - AVGC20) ^ 2 +
(C - AVGC20) ^ 2) / 20) ^ 0.5)/ AVGC20
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Registered User
Joined: 12/16/2004
Posts: 14
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Craig, that is bottom window is done with Stochs not BBWidth? Maybe that was for someone else. I'm confused!
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Worden Trainer
Joined: 10/7/2004
Posts: 65,138
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NormB,
A Stochastic compares the current value of an indicator to previous values of an indicator. If the indicator is at its highest value over the time frame specified, the Stochastic returns 100% and if the indicator is at its lowest value over the time frame specified, the Stochastic returns 0%.
While Stochastics is normally applied to Price. Craig applied it to the Bollinger Band Top to Bottom Ratio in this case. You may wish to review the following:
Understanding Stochastics
-Bruce
Personal Criteria Formulas
TC2000 Support Articles
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Registered User
Joined: 12/16/2004
Posts: 14
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That makes sense Bruce, thanks. That training video was especially helpful.
What about the scan I mentioned above. I would like to be able to find stocks where this indicator is breaking above 20%, or in other words expanding from a previously tightening band, hence an upward price move.
Thanks again, NormB
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Worden Trainer
Joined: 10/7/2004
Posts: 65,138
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NormB,
I've looked at your account and I don't see a BackScanner subscription, so I'm assuming you want this breakout detection done using TeleChart. Actually calculating the Minimum and Maximum Bollinger Band Width or Ratio over a specific period as is done in the Stochastic technique used in SnapSheets would not be practical using TeleChart's Personal Criteria Formula Language. For a technique that will work in TeleChart, you may wish to review the following:
Finding Expanding or Contracting Bollinger Bands
-Bruce
Personal Criteria Formulas
TC2000 Support Articles
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Worden Trainer
Joined: 10/1/2004
Posts: 18,819
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NormB
Check out this SnapSheet. It gives you colors that you control by dragging either of the value pointers on the right side.
Save it in the following folder:
\My Documents\My SnapSheets\SnapSheets
Once there, you can open it via FILE and OPEN SnapSheet and choosing MY COMPUTER
Attachments:
Bband Ideas.bWorks - 34 KB, downloaded 1,189 time(s).
- Craig
Here to Help!
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Registered User
Joined: 10/7/2004
Posts: 799
Location: Duluth, GA
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Hi, Craig:
Could you please make a PDF available of your notes?
Thanks!
Jim Dean
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