| stevenbfriedman |
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Gold User, Member, TeleChart
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| Registered User |
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| Unsure |
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| Wednesday, December 29, 2004 |
| Friday, November 4, 2005 2:46:10 PM |
12
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Jim Dean
Thanks for the input. Not, of course, what I wanted to hear, but best to be in contact with reality. Maybe Tradestation is the way to go?
Steve
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Craig,
Know that I am trying to set up a well-tested, propietary pullback screen. There is a CD to set it up on Tradestation, and I just assumed it would be relatively easy to set it up on TeleChart. The pieces make sense to me. For longs: ADX> 30 to establish trending, <4 period sma to screen for pullback, and +DI to find stocks trending up and haven't reversed the trend but are merely pulling back. The buy, for longs is then if the stock resumes the trend by moving up past the prior day high. Does this help to see what I am attempting?
Steve
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Craig or Bruce L
In lieu of +/-DI, might I substitute a stochastic, accumulation/distribution, or e.g. BOP? Something ready-made on Telechart. I could then verify that my criteria are met on my Fidelity Active Trader platform. If the list I derived from Telechart was not highly over-inclusive, this process would not be too clunky. But if my list were highly under-inclusive of stocks meeting my criteria, then this would not be the way to go. What indicators that are good-to-go on Telechart would you suggest that I sub for +/- DI??
Steve
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As a new TC user, I am very disappointed that ADX with +/-DI are not established and good-to-go user-friendly.
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Bruce L
You are correct, it is +/-DI. I did not know there was any difference between DI and DMI.
Steve
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Jim, Bruce Craig
Thanks all. I will see if I can get this going. If anyone wants to give it a go and report back, know that you will have a very well road-tested pullback screen to work with.
Steve
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Craig
I want to scan all stocks in the data base to find ones meeting my criteria. There are so many calculations that I suspect even with my fairly fast laptop and DSL, that it would take forever to scan the entire data base. Is this correct? If so, an alternative for me to the 10-period ADX/DMI criteria would be 14-period +DMI>30, with 14-period -DMI>30 to scan for shorts, and ignoring ADX. Is this a more doable option? If so, got a formula for this?
Tanstaafl
Thanks for your contribution. I had seen the posting. It made my head swim. For the weekly bars scan it is the same as daily, either 10-period ADX>30, and +DMI>-DMI, or 14-period +/-DMI>30. For me it is not so critical that the scan be precisely accurate, as I will look at all candidates in my Fidelity Active Trader trading platform to ensure that the stock meets the criteria.
Steve
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Craig
You are The Man. Thanks.
The lower block greater than the upper block for
-DMI>+DMI? I would assume so, but it's best not to assume.
Can I copy and paste the DMI formulas into the PCF?
Can all my scans be put together in one EasyScan?
I should forget about trying to run this scan on weekly charts, at least until I get my feet more wet?
Again many thanks,
Steve
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Craig
I did my due dilligence. All I can do at this point is scan for high ADX. How do I scan the flagged ADX stocks for +DMI>-DMI??
And then, how do I flag for high or low price < or > the 4-day
SMA??
Is there any way to do all 3 operations in one preset Easy Scan?
Thanks for your help
Steve
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Craig
Sorry for the misdirection. NOT RSI, but 4-period SMA.
And BTW, I would like to use this screen for daily, and weekly setups using weekly bars.
Steve
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