Registered User
Joined: 10/7/2004
Posts: 25
|
I would like assistance in using the BlockPlayer scanner to do the following:
Identify the weekly charts of watchlist components that I identify that fit the following:
1) Identify an intraweek price that has either made a six-week high or a six-week low.
2) For weeks that made lows, the close of that week MUST be above the open.
3) For weeks that made highs, the close of that week MUST be below the open.
4) For lows, a buy signal is triggered the next week if the index trades .25 point above the previous week's high.
5) For highs, a sell signal is triggered the next week if the index trades .25 point below the previous week's low.
6) Stops on buys are .25 point below the reversal week low.
7) Stops on sells are .25 point above the reversal week high.
8) If the following week does not trade above the high of the buy reversal week, there is no signal.
9) If the following week does not trade below the low of the sell reversal week, there is no signal.
I currently subscribe to the Backscanner and Helmscott data feeds
|
Worden Trainer
Joined: 10/7/2004
Posts: 65,138
|
I'm absolutely sure this is not what you want, but it is a place to start. Please save the attached .bWorks file to the following folder:
\My Documents\Blocks Files\Workspaces
You can then open the Workspace via your FILE menu (Open WorkSpace then My Computer).
1, 2 and 3 are checked during the previous week, because 4 and 5 happen the following (current) week.
I could not tell what index should be used for 4 and 5, so I used the symbol price instead.
My reading of 6 and 7 is probably flawed. As I implemented it, another exit condition in addition to the stop would seem desirable.
I'm not sure how or where steps 8 and 9 are supposed to work and I didn't implement them at all.
I'm sure we can get something more in line with your vision with some additional feedback. You may wish to review the following:
Customizing with Properties
Your First 3 Block DiagramsAttachments:
OptionusPrime20909a.bWorks - 88 KB, downloaded 756 time(s).
-Bruce
Personal Criteria Formulas
TC2000 Support Articles
|
Registered User
Joined: 10/7/2004
Posts: 25
|
Thanks Bruce :-}
Would you agree that the formula's you supplied do the following?
====
LONG
====
1) Identify an intraweek price that has made a six-week low.
Price vs MinMax -> Low, Bars Ago 1,=, Min,Low, for previous 6, bars, x1.00, Bars Ago 1, True 1, of 1, Bar=1 Week
2) For weeks that made lows, the close of that week MUST be above the open.
Price vs Price-> Close (Last), Bars Ago,>, Open (First),1, Bars Ago, True 1, of 1, Bar=1 Week
3) For lows, a buy signal is triggered the next week if the index trades .25 point above the previous week's high.
Price vs Price-> High, 0, Bars Ago,>=, High,1, Bars Ago, +, 0.25, True 1, of 1, Bar=1 Week
4) Stops on buys are .25 point below the reversal week low.
Sell Stop Period 1, Comparison 0.25, 1 Week
5) If the following week does not trade above the high of the buy reversal week, there is no signal.
=====
SHORT
=====
1) Identify an intraweek price that has made a six-week high.
Price vs MinMax -> High, Bars Ago 1,=, Max, High, for previous 6, bars, x1.00, Bars Ago 1, True 1, of 1, Bar=1 Week
2) For weeks that made highs, the close of that week MUST be below the open.
Price vs Price-> Close (Last), Bars Ago,<, Open (First),1, Bars Ago, True 1, of 1, Bar=1 Week
3) For highs, a sell signal is triggered the next week if the index trades .25 point below the previous week's low.
Price vs Price-> Low, 0, Bars Ago,<=, High,1, Bars Ago, -, 0.25, True 1, of 1, Bar=1 Week
4) Stops on sells are .25 point above the reversal week high.
Cover Stop Period 1, Comparison 0.25, 1 Week
5) If the following week does not trade below the low of the sell reversal week, there is no signal.
|
Worden Trainer
Joined: 10/7/2004
Posts: 65,138
|
All comments apply to both long and short:
I would agree on 1, 2 and 4
For 3, I have not used an index. I have used the symbol being traded. Otherwise, the description would seem accurate.
I have not implemented 5 at all. It may be true if it simply re-iterates 3.
If I actually got everything correct, it was almost by accident. 
-Bruce
Personal Criteria Formulas
TC2000 Support Articles
|
Registered User
Joined: 10/7/2004
Posts: 25
|
I have a question concerning the conditions you created. Take the first one for example,
"Price vs MinMax -> High, Bars Ago 1,=, Max, High, for previous 6, bars, x1.00, Bars Ago 1, True 1, of 1, Bar=1 Week"
When I select the Price vs MinMax I don't get all of these conditions. It seems as if you have somehow combined the conditions that exist in the Price vs Price block?
|
Worden Trainer
Joined: 10/7/2004
Posts: 65,138
|
I modified the BackScan Condition slightly to because it seemed a test needed to be done where both High and the Max High needed to be tested one week ago. If you want to use this BackScan Conditions in other BackScans, you can save it to your computer.
-Bruce
Personal Criteria Formulas
TC2000 Support Articles
|