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Registered User
Joined: 4/28/2009
Posts: 8
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Desired Setup in StockFinder:
I would like to come as close as possible to scan for the following criteria:
1. Strong Stock
2. Strong Group
3.Stock is within 0.3% of Today's High
4. Strong Market
5. *Engine of the day looks good
6. Stock at either Breakout or Support Level
7. S&P's in "bottom half" of the days Tick Chart
*Engine refers to the overall market is generally moving upward.
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Worden Trainer
Joined: 10/1/2004
Posts: 18,819
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How do want to define "Strong Stock", "Strong Group" and "Strong Market"?
Over what period is should the "market" be moving upward? What do you want to use to represent "The Market"?
How do you want to define support or breakout level?
- Craig
Here to Help!
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Worden Trainer
Joined: 10/7/2004
Posts: 65,138
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acamb626,
We would need to know the answer to Craig's questions to help you create something as we can only help you implement your unambigous objective definitions. We cannot come up with definitions for you.
That said, two of your criteria can possibly be implemented based on the descriptions provided. The stock being within 0.3% of its High could be done using the following Rule on a 1-Day Chart:
If Price.High - Price.Last <= _
.003 * (Price.High - Price.Low) Then Pass
There are a lot of definitions for Tick Chart, but if the S&P being in the bottom half of the day's Tick Chart means it is in the bottom half of its Price Range for the day, it could be done by creating a Price for Symbol Indicator for the SP-500 and Dragging and Dropping it into the RealCode Editor to create something similar to the first line of the following 1-Day RealCode Rule (which is very similar to the first Rule):
'# PfS = indicator.PriceforSymbol
If PfS.Last - PfS.Low <= _
.5 * PfS.High - PfS.Low Then Pass
The Rank by Stock and Industry Performance video demonstrates one technique for finding strong Stocks in strong Industries.
-Bruce
Personal Criteria Formulas
TC2000 Support Articles
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Registered User
Joined: 4/28/2009
Posts: 8
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OK Sorry for the ambiguity. I will try to be more specific.
1. The scan would look for the strongest stock within the strongest 5 sub industry based on percentage within the past 5 days.
2.This would be met by completing number 1.
3.If Price.High - Price.Last <= _
.003 * (Price.High - Price.Low) Then Pass
4.Strong Market would be any any way of ensuring that the major indexes are trending up over the past 60 minutes. There is no requiremenr for how much the market has gone up only that it has not gone down in the past hour. The S&P could be the index.
5.This would ce covered by number 4.
6.Stock should be at breakout or sup[port level. Not sure how to define this any more but maybe this can be accomplished as best as possible.
7.'# PfS = indicator.PriceforSymbol
If PfS.Last - PfS.Low <= _
.5 * PfS.High - PfS.Low Then Pass
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Worden Trainer
Joined: 10/7/2004
Posts: 65,138
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acamb626,
I've create a Layout with a Filter and Watchlights that should allow you to determine when your market conditions are met and identify stocks meeting your defined conditions (6 is not included as it is not defined).
Most of the Panes on which the Rules are based are Pinned to the left-side of the Chart. You can left-click on these tabs to view these Panes if desired.
The Rules have editable Settings. Left-click on a Rule to bring up the Main tab of the Edit window if you wish to adjust the settings.
The top Watchlist contains just the SP-500. A blue Watchlist Light will be displayed if the SP-500 is in the bottom half of its range for the day. A green Watchlist Light will be displayed if the SP-500 if the 60-Period Price Percent Change is positive for 1-Minute Bars.
The lower Watchlist has two tabs. The first tab contains a Personal Watchlist called With Sub containing all of the 6745 US Stocks with Sub Industries when it was created.
This Watchlist is very large and running the Filter for the Rank based conditions can take a very long time (calculating Ranks is far more resource intensive than calculating the Values upon which those Ranks are based). I personally see it as too slow to be practical. The Refresh Rate is set for 8 Hours. This means that for all practical purposes, you will need to run the Filter manually. My suggestion would be to choose a smaller Watchlist containing just those symbols you would actually be willing to trade to reduce the time it takes to run the Filter. Better yet, switch to Value based Rules instead of using Ranks.
The second tab contains the standard Main Watchlist that will allow you to choose Watchlists other than Personal Watchlists. Both Watchlists have a yellow Watchlist Light indicating if the symbol is in the top 0.3% of its Range for the day.
Everything is based on the Main Time Frame of the Chart, if you change this Time Frame for 1-Day, the results will not be Daily.
You should be able to Open the attached Layout directly into a running copy of StockFinder.Attachments:
acamb626-39683.sfLayout - 85 KB, downloaded 2,507 time(s).
-Bruce
Personal Criteria Formulas
TC2000 Support Articles
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