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Registered User
Joined: 2/28/2005
Posts: 825
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Recently I read about a scan (from a google article-author stockbee) I need help developing please. Here is what we want to look for in the scan:
Calculate the lowest close for a stock in last 260 days. If a stock has less than 260 days data calculate lowest close for those many days.
Calculate percent change from lowest close and select stocks which had 100% plus growth
Calculate highest closing price in last six months for those stocks . Only take stocks whose current price is within 25% of highest 6 month close.
Use a significant one day move scan on these stocks. e.g. say a 5% move ( 100 * (C - C1) / C1) >= 5 AND V >= 1000 AND V > V1)
These candidates to be bot the next day.
I came across this following a link from a Google tab in Blocks. Browsers within Blocks ie google, yahoo, etc in tabs) do not show URL's, nor may I right click on the link to copy the address. Standard browser options within Blocks browsers would be good in a future update.
TIA
art
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Registered User
Joined: 2/28/2005
Posts: 825
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Note: He also noted that: Only fresh signals are valid. Fresh signal is a stock which today has 5% signal but no 5% signal in last 5 days.
I also noted http://stockbee.blogspot.com/2007/02/double-trouble.html
that the author is using TeleChart (he is showing actual TC images) and has evidentially made this to show as a custom indicator showing price spikes (as well as a scan).
Thanks again
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Registered User
Joined: 10/7/2004
Posts: 5
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I am the author of the blog mentioned in the above post and the Double Trouble trading system.. To understand the philosophy behind Double Trouble you need to see my lengthy discusion on "Significant Moves"
If you are trying to replicate the scans then you can try this:
(100 * ((C + .01) - ( MINC260 + .01)) / (MINC260 + .01))>=100 and c>=.75*maxc130 and ( 100 * (C - C1) / C1) >= 5 AND V >= 1000 AND V > V1)
However this will not give you stocks which have doubled in less than 260 days.
What I do is pull the data from TC Gold in to my own software using the Worden provided interface and crunch data in it.
To get the chart to show the yellow spike just add the same formula as indicator (% true) in the last panel and set your color to yellow.
To illustrate the concept I gave very simple rules but if you adjust the rules you will get better results.
Pradeep Bonde
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Registered User
Joined: 2/28/2005
Posts: 825
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Thank you for your reply. I appreciate your sharing.
Perhaps our local guru's might have a thought to put this all together - Along with your suggested scan for 260 days.
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Registered User
Joined: 1/28/2005
Posts: 6,049
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Realize that there is a difference between a stock that has
moved 100% relative to its close vs. its low.
If you want to experiment with different timeframes you could
try:
C >= (C100 * 2) AND C1 < (C101 * 2)
( 100% for 100 days relative to the close )
(you can edit the 100 and 101 for different lengths. just
make sure the 101 value is 1 larger)
Thanks
diceman
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Registered User
Joined: 10/7/2004
Posts: 5
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There is no harm in trying anything, but just building scans and changing parameters for sake of changing them will not necessarily give you the same results. The system is purposefully built to use the 260 days low. There is a very significant reason for that.
A scan without understanding thoroughly the basic assumptions and concepts behind the system and why they work is unlikely to lead anywhere. You can backtest the 260 days low based approach as against the one suggested by the earlier poster of using 260 day ago price, the suggestion will significantly under perform.
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