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Registered User
Joined: 1/29/2005
Posts: 8
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As a member now for 3 months I am trying to create a strong scan for buying stocks. I realize no indicator by itself will work all the time but it actuality the transition from shall I say low to high moneystream, bop, ma's, obv seem to work best. Check this pcf and let me know what you guys think.Any ideas or suggestions would be appreciated.
C2 > XAVGC10.2 AND C1 > XAVGC10.1 AND C > XAVGC10 AND BOP10.2 < BOP1.1 AND BOP1.1 < BOP1 AND TSV1.2 < TSV1.1 AND TSV1.1 < TSV1 AND RSI20.9 >= 50 AND MS10.2 < MS10.1 AND MS10.1 < MS10 AND BOP10.5 < BOP10.4 AND BOP10.3 < BOP10.2 AND BOP10.1 < BOP10 AND OBV10.3 < OBV10.2 AND OBV10.1 < OBV10
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Worden Trainer
Joined: 10/1/2004
Posts: 18,819
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C2 > XAVGC10.2 AND C1 > XAVGC10.1 AND C > XAVGC10
This has the price crossing the 10-day exponential moving average yesterday and staying above it today.
BOP10.2 < BOP1.1 AND BOP1.1 < BOP1 AND BOP10.5 < BOP10.4 AND BOP10.3 < BOP10.2 AND BOP10.1 < BOP10
I think you can replace all of this with:
BOP10>BOP10.10
This will have the average of the last 10 days of BOP be greater than the previous 10. I am not a fan of scans that look to 1 bar of BOP as it is blocks of BOP that are important, not single days.
TSV1.2 < TSV1.1 AND TSV1.1 < TSV1
This has a three day increase in TSV. Your TSV period is VERY low and volatile. I am not sure three days of something this volatile is significant. Do you use a TSV with a period of 1 on your chart?
MS10.2 < MS10.1 AND MS10.1 < MS10
Here you have the 10-day average of MoneyStream increasing over two days. Why not just have MS higher than the 10-bar average with the PCF below?
MS>AVG(MS,10)
OBV10.3 < OBV10.2 AND OBV10.1 < OBV10
I have the same thoughts here:
OBV1>AVG(OBV1,10)
My only other recomendation is to not string these all together into one PCF. Make each element its own PCF and combine them in EasyScan. This allows you to pick and choose each element or use one of the smaller PCFs in another scan without having the other elements tag along.
- Craig
Here to Help!
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Registered User
Joined: 1/29/2005
Posts: 8
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Thanks for reply. The TSV was supposed to be TSV10. Will RSI21.9 > 50 help indicate with a strong trend. Once again thanks.
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Worden Trainer
Joined: 10/1/2004
Posts: 18,819
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Some look to RSI to indicatate the strength of a trend. I would spend time thinking what YOU think makes a strong trend. From there we can start scanning for it.
Sounds silly, but what is a strong trend? Define it using only price and we can move from there (bringing in indicators as needed).
- Craig
Here to Help!
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Registered User
Joined: 12/19/2004
Posts: 415
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QUOTE (Craig_S) .....
BOP10.2 < BOP1.1 AND BOP1.1 < BOP1 AND BOP10.5 < BOP10.4 AND BOP10.3 < BOP10.2 AND BOP10.1 < BOP10
I think you can replace all of this with:
BOP10>BOP10.10
This will have the average of the last 10 days of BOP be greater than the previous 10. I am not a fan of scans that look to 1 bar of BOP as it is blocks of BOP that are important, not single days.
.......
Craig, not to get in the middle, but an obsevation. It seems to me that the formula he has/had is not an averaging formula and just is looking for an increasing BOP for the last six days BOP>BOP1 AND BOP1>BOP2 ... BOP4>BOP5?
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Worden Trainer
Joined: 10/1/2004
Posts: 18,819
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There is nothing wrong with his formula.
My only comment deals with how Mr. Worden recomends, in his video on BOP, looking at BOP. He makes a big deal how one bar of BOP is meaningless. He says to look to blocks of BOP before making a judgement on the systematic buying and selling.
My PCF looks for blocks of activity vs. one bar of BOP against another single bar of BOP.
Make sense?
- Craig
Here to Help!
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