new and improve VolCheck3 -plot arrow up or down depending on bar color indicator colors background now called KStockColor to reflect the fact that its color depending on slope of K line not D line. KStochColor - done away with plotting K line thus there is no need to set scale to false - overlay on chart automatically - add option to increase the color sarturation( 1 - 200) the zip file includes both indicators.
Hi Spydertrader I look at Trade Navigator-> Trader's Toolbox-> Criteria. There's one definitions which I have to guess: a--- Spydertrader Average Volume Criteria - Moving (Volume , 65)>=200000 b--- Spydertrader Dry Up Volume - Percentile Rank (volume , 60 , True , True) <= 30 If I subtracted 60 of b from 65 of a, I got 5. Does this mean you excluded 5 (bars) of Volume Peak when you were calculate Dry Up Volume? TIA
A. Refers to An Average Daily Volume - a minimum number of shares traded each trading day. In equities, a trader doesn't want to trade illiquid stocks. hence this minimum value usd for a culling criteria. B. Refers to a Percentile Value used to determine which 'Pace Level' a specific Volume Bar falls (out of the previous 60 trading days). This does not represent an average of any kind. This criteria locates Equities which currently find themselves in 'Dry Up.' HTH. - Spydertrader
Hi Spydertrader The following are from Jack's post-- --------------------------------------------------------------------------------- Jack Hershey 03-24-10 12:26 AM Description This Day Trading Strategy aims at seeking daily positive returns from long/short positions in stocks based on large price movements that are accompanied by breakouts in volume. Stock Screening The strategy focuses on the Energy, Healthcare, Financial and Technology sectors and performs an initial scan of the entire stock universe within these industries based on the following criteria: Price: 10$ < p < 50$ Average Daily Volume: > 600,000 shares price > 3 beta, ref S&P EPS > 80 RS> 80 This currently results in approximately 100 stocks out of which only a few will be in focus for the day, primarily based on volume. Then 30 min charts are opened for the DU volume DU volume is defined as 0.25 times the 45 day average volume. >>>A --------------------------------------------------------------------------------- Trade Navigator, Equity Rank, A SpyderTrader indicator for stocks which is based on at least five separate 20% price increased over the past six months >>>B ---------------------------------------------------------------------------------- The criteria of Jack's Day Trading is quite different from Spydertrader Equities fundamental Filter on Trade Navigator. Will the combined A an B criteria provide sufficient information if I summit them to Trade Navigator for remote assistance? TIA
Not really. Depending on which data source one uses for the culling criteria, one may use slightly different criteria (because one data source may not have available all data required). creating a Universe of stocks to trade always involves seeking 'quality' in an effort to apply the methods of The Price / Volume Relationship in a more efficient manner (more money per unit time). For example, Jack once posted these criteria in a thread which discussed the use of indicators. In another thread (which focused on using Stocktables.com), Jack posted slightly different culling criteria based on using a different source for the culling data. In my Equities Journal, I posted the stocktables.com criteria, but recently posted the criteria I use in Trade Navigator in this thread. The other difference between a list developed from Jack's criteria, and the Automated list derived from The Trade Navigator Software, involves 'rank' calculation. To Jack, every stock symbol has a rank - most very low rank - but all symbols have a rank. Jack then recommends only trading stocks which have the highest rank. For me, I have added another layer of efficiency to the culling process. Since a trader is only going to trade the highest ranked stocks, why calculate rank for equities which can never "make the grade" (so to speak)? As a result my definition of 'rank' involves a stock which (at a minimum) cycles 5 times in 6 months for 20% (or more) gains (across a period of 6 to 8 days). Any stock which does not meet this minimum standard finds itself with a rank of zero. As such, by culling for 'Fundamental Quality' first (EPS, Volume Minimums, Float, Insider Owned Percentage, etc.) and culling for 'Technical Quality' (20% gains, etc.) second, one is left with a Universe of Equities which 'work' with an eye toward making the most efficient use of one's time. In the past, a trader had to manually perform both Fundamental and Technical culling - a process which required some 4 hours per evening. With the advent of Trade Navigator Software, one can now obtain the same information, but at the speed of a mouse click. All you require from Tech Support is for them to explain to you how to export the results of the Trade Navigator Automated Culling into a Quoteboard, and how to sort the list by unusual volume (a function already in your software). HTH. - Spydertrader
Hi Spydertrader, After comparing the filter which you posted at 02-14-10 12:38 AM with Trade Navigator Spydertrader Equities Fundamental Filter, I found there's difference in Average Volume. Your 02-14-10 12:38 AM filter asks for 400,000 while the current Trade Navigator Spydertrader Equities Fundamental Filters requires 200,000. Do you suggest to edit Average Volume on TN and make a revised filter? I did a test and the revised filter (400,000 Average Volume) created one symbol (Dry Up); the existing filter (200,000 Average Volume) created two symbols (Dry Up). One more question for today. Does "Equities Rank >=0 in the Spydertrader Equities Fundamental Filter [Filter] " window mean the highest ranked stocks? TIA
No. However, I do encourage you to read some of the old Equities Discussions in an effort to become more familar with the manual process - allowing you to better understand how the automated process saves you time. DKM once posted 'Daily Analysis Sheets' (Excel Format). Perhaps you can use those to assist your understanding of the 'Ranking' and culling Process. You might also review Jack's very old posts (under the usernames bubba7 and grob109) in an effort to understand how the culling process simply provides a 'quality universe' and is seperate from the P / V Realtionship. See my previous post. Since stocks which do not cycle (a minimum) 5 times in 6 months for 20% (or more) gains - over a period of 6 to 8 days do not receive a rank (i.e. rank = zero), then any rank greater than zero, would indeed, represent a stock a beginner would want to trade, and by definition represent the 'highest' ranked stocks in the Universe of tradeable (those that meet the definition of 'quality') stocks. HTH. - Spydertrader
There are a couple improvements we've been trying to get TN to add. If you agree with these please go to their forum any let them know as they will not send it to development unless they get more requests. The two items here are adding more line thicknesses and separating the line thicknesses from the line style. And combining the 2 edit windows to eliminate extra clicks. If you have other suggestions for these (like expanding their color pallet) please note them too. Genesisft Forum Link