StockFetcher Forums · General Discussion · How to create my custom Retrace Indicator?<< >>Post Follow-up
tigerdarling
1 posts
msg #157545
Ignore tigerdarling
9/10/2021 12:59:03 PM

This indicator needs daily bars and must start
at some time in the past, let's say 1 year ago.

At one year ago, plot equals mid point of high and low.
For each day, if the high is above the plot,
then add (high-plot) /2 to the plot. And if low is below
the plot then subtract (plot-low)/2 from the plot.

The result is a plot which shows the 50% retrace
point for the current price level.

My goal is to screen for stocks with a high distance
from the 50% retrace level.


Cheese
1,260 posts
msg #157564
Ignore Cheese
9/12/2021 1:39:46 PM

https://www.stockfetcher.com/forums/General-Discussion/How-to-create-my-custom-Retrace-Indicator/157545
How to create my custom Retrace Indicator?
tigerdarling 9/10/2021 12:59:03 PM
=============================================================================

Welcome to sF

I am not an expert at retrace trading, but do you need to create your own custom Retrace Indicator
to do all this:

At one year ago, plot equals mid point of high and low.
For each day, if the high is above the plot,
then add (high-plot) /2 to the plot. And if low is below
the plot then subtract (plot-low)/2 from the plot.


in order to get to this:

The result is a plot which shows the 50% retrace
point for the current price level.
My goal is to screen for stocks with a high distance
from the 50% retrace level.


Personally, I just look for a simple way to do things, and then enjoy the better things in life.
Here is a 50+ retrace over 52 weeks filter by Railwhore that might be a good start for your project.

https://www.stockfetcher.com/forums/Public-Filters/50-Retrace/50557/-1/50557



If you've had experience with trading retrace, please share your tips.
I am always for learning some new skills.

Good luck with your custom building.



Cheese
1,260 posts
msg #157565
Ignore Cheese
9/12/2021 1:52:22 PM

https://www.stockfetcher.com/forums/General-Discussion/How-to-create-my-custom-Retrace-Indicator/157545
How to create my custom Retrace Indicator?
tigerdarling 9/10/2021 12:59:03 PM
=============================================================================

Last week, when karennma gave us a tip about re-entering ZM,
I tweaked Railwhore's 50%+ retrace filter like this and use it for short-term decision support.

Fetcher[
/*
https://www.stockfetcher.com/forums/Public-Filters/50-Retrace/50557/-1/50557
50%+ Retrace
Railwhore 3/14/2007 12:05:38 AM
*/

SYMLIST(ZM)
chart-time 24 months


set{52wkh, high 52 week high}
set{50pctretrace, 52wkh / 2}
set{pctwithin2, close / 52wkh}
set{pctwithin, pctwithin2 - 50pctretrace}


/*
shows stocks where
close below 50pctretrace
close > 12
avgvol > 500000
volume > 500000
*/


draw price line at 50pctretrace
add column 52wkh
add column 50pctretrace
add column pctwithin
]




snappyfrog
415 posts
msg #157566
Ignore snappyfrog
9/12/2021 2:08:54 PM

I don't remember who posted this originally, but the DMA 5% filter picked it a few days ago also. I find this a good filter for pullbacks.

Fetcher[
/*Go long when DMA IS 5% above price AND when you see a reversal signal at the bottom i.e "Doji", "D-cross","B-Thrusting Line",or exhausted volume spike. The trend is confirmed(add to position) when the ema(3)crosses above DMA, and start taking profits when ema(13)crosses above DMA.*/


market is not OTCBB
market is not ETF
optionable
EMA(3)crossed below DMA(28,-14) in the last 10 days
and EMA(3) > EMA(3) 1 day ago
and EMA(13) is below DMA(28,-14)
and average volume(90)is above 1000000
and volume is above 1000000
and close > 3
and DMA(28,-14) > 5% above close
Add column RSI(14)
Add column slow stochastics(5,3)


set{ emaUp, count(ema(3) > ema(3) 1 days ago, 1)}
draw emaUp

set{ cogUp, count(cog(5) > cema(cog(5),3) 1 days ago, 1)}
draw cogUp
]



Cheese
1,260 posts
msg #157569
Ignore Cheese
9/12/2021 3:02:14 PM

https://www.stockfetcher.com/forums/General-Discussion/How-to-create-my-custom-Retrace-Indicator/157545
snappyfrog 9/12/2021 2:08:54 PM

I don't remember who posted this originally, but the DMA 5% filter picked it a few days ago also.
I find this a good filter for pullbacks.

/*Go long when DMA IS 5% above price AND when you see a reversal signal at the bottom i.e "Doji", "D-cross","B-Thrusting Line",or exhausted volume spike.
The trend is confirmed(add to position) when the ema(3)crosses above DMA, and start taking profits when ema(13)crosses above DMA.*/
==================================================================================

Wow, thank you, snappyfrog.
I'm a fan of DMA, ema 3, ema 13 for many years but somehow I've missed this gem.

StockFetcher Forums · General Discussion · How to create my custom Retrace Indicator?<< >>Post Follow-up

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