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Registered User
Joined: 5/27/2005
Posts: 35
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Hi All my name is Ron,
can someone help me to write these scans , i'm new to TeleChart
thanks
1) i want to write an easy scan for stocks using the following criteria :
the stock must be down between 3 or 5 days each close is lower then the previos close
The stock must be in up trend .
today close < prev day close
AND
prev day close < 2 days close
AND
2 days close < 3 days close
...
2) i want to write also scan for down trend stocks ,
The stock must be up between 3 or 5 days each close is higher then the previos close
The stock must be in down trend .
today close > prev day close
AND
prev day close > 2 days close
AND
2 days close > 3 days close
and so on ...
Thanks
Ron
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Registered User
Joined: 4/8/2005
Posts: 9
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Ron--I think you got your ducks backward.In(1) you
said the stock must be in an up-trend and proceeded to define a down trend.(2) was also reversed. Here is your up -trend. C>C1>C2>C3>C4---5 days worth. for the down trend reverse > to <. for an up trend following a 5 day down trend it would be C>C1>C2<C3<C4<C5<C6<C7 ----A 5 day
down trend followed by a 2 day up trend. Hope this helps
lepaul
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Worden Trainer
Joined: 10/1/2004
Posts: 4,308
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Ron:
I suspect that what you are looking for is stocks that have been in an established uptrend that have just pulled back during the last three to five days, or in an established uptrend that have just recently begun to rally.
If that is correct, there is a video I'd like you to watch. It demonstrates how to find these rallys and pullbacks using visual sorting of linear regression lines. This can be easier than using PCF's. Here is a link to the video:
Spotting trend changes using linear regression channel sorts
Let me know if this is helpful, or if I've completely missed what you are hoping to accomplish.
- Doug
Teaching Online!
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Registered User
Joined: 5/27/2005
Posts: 35
|
Hi Doug ,
i saw your video on the link you provide ,
it's very helpfull ,
What i want to accomplish is an easy scan for stocks in upper trend
let's say for 3 month that just made a pullback of 3 to 5 days down .
also i want to do the opposite to scan stocks in down trend
let's say for 3 month that just made a pullback of 3 to 5 days up .
i think your method using
the linear regression will help to do this ,
in your video you show the example on down trend which do a pullback up
if i want to find the opposite - up trend that makes a pullback down so i have to sort with the slop value and then flag all sort positive values
and then sort again with regression parameter is that correct or do i miss something ?
i want to do all this with easy scan is this possible ?
thanks
Ron
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Worden Trainer
Joined: 10/1/2004
Posts: 4,308
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You are correct about the linear regression stuff.
You can do something similar with EasyScan, but I think the linear regression technique is easier, and I think it's mor efficient in finding actual uptrends. However, since you want to scan, you'll need a PCF to measure performance over the 3 month period ending 5 days ago:
((C5-C68)/C68)*100
In your scan, you'll need two conditions:
1. Your PCF: Use the range selector to accept values that you feel represent strong enough 3 month performance to ensure a likely uptrend.
2. Price Percent Change 5-Day: Use the range selector to accept low values.
This will find stocks that had strong performance over the three month period ending 5 days ago, but have had poor performance over the last 5 days.
To find the rallys, just flip the values you look for on the two range selectors.
- Doug
Teaching Online!
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