Mactheriverrat 3,153 posts msg #148398 - Ignore Mactheriverrat modified |
7/6/2019 2:40:49 AM
@volvloe
Submit
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davesaint86 725 posts msg #148409 - Ignore davesaint86 |
7/7/2019 12:10:50 AM
code from TradingView
//@version=3
// Use this indicator to compare how security is performing in compare with prefered index (SPX by default).
// > 0 outperforming
// < 0 underperforming
// Works best for weekly, but can be applied to monthly and daily charts. It will be rather useless to use it in smaller timeframes
// Apply it to SPX, industry index, sector index or other security in similar sector
// UPDATE 1: Added sector and industry as optional params. Leave them same as index if you don't want to use them
study("Mansfield Relative Strength indicator")
index = input(title="Index", type=symbol, defval="SP:SPX")
sector = input(title="Sector (optional)", type=symbol, defval="SP:SPX")
industry = input(title="Industry (optional)", type=symbol, defval="SP:SPX")
ma_type = input(title="Which moving average to use?", defval="SMA", options=["SMA", "WMA", "EMA"])
len_daily = input(title="MA length for Daily", defval=200)
len_weekly = input(title="MA length for Weekly", defval=52)
len_monthly = input(title="MA length for Monthly", defval=10)
len_other = input(title="MA length for all other periods", defval=52)
val = close
len = period == "W" ? len_weekly : (period == "D" ? len_daily : (period == "M" ? len_monthly : len_other))
ma_func(x, length) =>
ma_type == "WMA" ? wma(x, length) : (ma_type == "SMA" ? sma(x, length) : ema(x, length))
calc_mrs_func(x, ind, length) =>
((x / security(ind, period, x)) / ma_func((x / security(ind, period, x)), length) - 1) * 10
mrs_index = calc_mrs_func(val, index, len)
mrs_sector = calc_mrs_func(val, sector, len)
mrs_industry = calc_mrs_func(val, industry, len)
c = sign(mrs_index) + sign(mrs_sector) + sign(mrs_industry)
bgcolor(c == 3 ? color(green, 80) : c == 2 ? color(green, 75) : c == 1 ? color(green, 70) : c == -1 ? color(red, 70) : c == -2 ? color(red, 75) : c == -3 ? color(red, 80) : gray)
plot(mrs_index, linewidth=3, title="MRS index")
plot(mrs_sector != mrs_index ? mrs_sector : na, linewidth=2, title="MRS sector")
plot(mrs_industry != mrs_index ? mrs_industry : na, linewidth=1, title="MRS industry")
hline(price=0, linestyle=dashed, title="Zero baseline")
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davesaint86 725 posts msg #148413 - Ignore davesaint86 |
7/7/2019 11:33:49 AM
https://www.tradingview.com/x/MwjLOJFP/
https://www.tradingview.com/x/7S4tx1oq/
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Mactheriverrat 3,153 posts msg #148505 - Ignore Mactheriverrat modified |
7/13/2019 8:45:00 PM
Submit
You should see charts like this
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davesaint86 725 posts msg #148506 - Ignore davesaint86 modified |
7/13/2019 9:30:19 PM
I found the Weinstein filter on ChartMill and here is their current list. Many of these stocks are still in stage 2.
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Mactheriverrat 3,153 posts msg #148507 - Ignore Mactheriverrat |
7/13/2019 9:40:28 PM
@davesaint86
Chartmill is another great site. Kudo's on your filter.
I like Weinstein's way of finding trends on the weekly charts.
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volvlov 32 posts msg #148508 - Ignore volvlov |
7/13/2019 9:44:37 PM
I am going to watch this one closely next week.
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Mactheriverrat 3,153 posts msg #148509 - Ignore Mactheriverrat |
7/13/2019 10:00:21 PM
WW has a history of being explosive past on a weekly basis.
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lemmy 12 posts msg #148510 - Ignore lemmy |
7/14/2019 9:16:59 AM
Stan Weinstein's book was the first book I'd ever bought about trading and/or technical analysis, and it is still my favorite. I consider it a "must have" in one's trading library.
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ron22 255 posts msg #148512 - Ignore ron22 |
7/14/2019 11:14:36 AM
davesaint86, Chartmill is a great site. I just joined. Your filter gives 96 matches. How do you narrow it down
to 10-20 for a watchlist? Also, what do you use for entry and exit triggers? Thank you for your input.
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