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Filter Exchange · Need help with Bollinger Band filter
msg #86938
1/24/2010 8:58:39 PM

I'm trying to find stocks with a certain maximum ratio between the difference between the maximum Bollinger Band width over a past period and the minimum Bollinger Band width during that same period. I tried the approach below with no success.

Any ideas how to code something like this? This is what I tried that didn't work.

set{diff, upper Bollinger band(20,2) - lower bollinger band(20,2)}
set{diffmax, high 12 month high diff}
set{diffmin, low 12 month low diff}
ratio{diffmax / diffmin}
ratio < 5


Filter Exchange · pincher query
msg #86935
1/24/2010 8:25:12 PM

Going long on pincher plays is a form of bottom fishing that, in my experience, can be risky but sometimes very profitable. A good pincher stock has to be stalked and watched frequently if not continuously. The time to go long is when heavy buying comes in and short covering is happening; that can produce short term, explosive upward volatility. Buying too early results in the stock continuing to decline; you'll either lose a ton or get stopped out repeatedly.

General Discussion · Real time scanning
msg #86922
1/24/2010 5:14:15 PM

Great info, thanks!

Filter Exchange · pincher query
msg #86904
1/24/2010 12:50:58 PM

I think I know what you mean by a pincher scan but I'm not sure how to write one using your criteria exactly as you posted them. For example, ADX below -37. I don't think ADX is ever negative, but I might be wrong. PPO below - 30 would be useful if the PPO on this site was like the one on Stockcharts but it's somewhat different on SF.

A potential candidate pincher filter might look like this but you'll probably have to tweak the settings to find one that works best:

close < 0.25
Percent Price Oscillator(10,50) < -0.3
ADX(14) > 37

Maybe HNAB, DRLY, HOMS, BONZ or IVOB are they types of charts you're looking for?


General Discussion · Real time scanning
msg #86900
1/24/2010 11:24:32 AM

This sounds like something that a few folks have asked about but I don't think anyone has posted info about any services that provide this in RT. Has anyone used this service?

They have a new, revised RT program coming available very soon, possibly within the next week. According to some info I've read, their software developers were allowed in to several brokerage/MM firms to view their trading screens and legacy software. This allowed them to see what the brokers and MMs are currently using and let the developers determine what is needed to improve their program and be more attractive to commercial trading community.

Their main page is here

Any feedback about their service is appreciated. It would be interesting to see what type of RT info and scans the big players have access to.


Filter Exchange · On Balance True Range (OBTR)
msg #86611
1/19/2010 10:05:52 PM

yes, thanks

Filter Exchange · On Balance True Range (OBTR)
msg #86606
1/19/2010 9:56:43 PM

I know the keys...



just doesn't seem to work sometimes

Filter Exchange · On Balance True Range (OBTR)
msg #86598
1/19/2010 8:14:34 PM

Found this indicator and info about it in an article on a website that someone recently posted a link to. The creator of the indicator makes a case that it's better than OBV. I don't know that I agree with that completely but I agree that it does handle gaps better than OBV and A-D.

"On Balance True Range (OBTR) – created by Thomas A. Bierovic

The first component of the OBTR momentum indicator is called True Range. True Range. True Range, as defined by J. Welles Wilder is:

True Range (TR) which is defined as the greatest of the following:

The current High less the current Low.
The absolute value of the current High less the previous Close.
The absolute value of the current Low less the previous Close.

If the current high-low range is large, chances are it will be used as the True Range. If the current high-low range is small, it is likely that one of the other two methods would be used to calculate the True Range. The last two possibilities usually arise when the previous close is greater than the current high (signaling a potential gap down or limit move) or the previous close is lower than the current low (signaling a potential gap up or limit move). To ensure positive numbers, absolute values were applied to differences.

As you can see, true range is a measure of price movement, and, as stated before, is highly related to volume. Mr. Bierovic simply replaced the Volume component of OBV with True Range, to create On Balance True Range.

OBTR addresses the two weaknesses in OBV. First, OBTR is always up to date, and second, gaps are handled properly in this indicator.

OBTR can be combined with a 9 day moving average (EMA) to create buy and sell signals. A bullish signal occurs when OBTR crosses above the EMA, and a bearish signal is generated when OBTR crosses below the EMA.

Combining OBTR with MACD

Combining OBTR with a dual MACD system can be a very powerful set of indicators for determining price entries (when to buy stock), and exits (when to sell stock).

A 12,26,9 MACD is combined with OBTR for buy signals. Look for bullish divergence between price and the OBTR, and bullish cross overs in both the MACD and OBTR for entry points.

A 19,39,9 MACD is combined with OBTR for sell signals. Wait for the MACD to display a bearish cross, or cross below the 0 line, and confirm this signal utilizing OBTR bearish divergence or crosses."

I searched the forum but didn’t see any reference to this indicator. Here’s my interpretation of OBTR. Don’t know yet how useful it is but plan to play with it and see what it does.

Set{var1, high – low}
Set{var2, abs(high – close 1 day ago)}
Set{max1, max(var1, var2)}
Set{var3, abs(low – close 1 day ago)}
Set{OBTR, max(max1, var3)}
Set{OBTRA, cema(OBTR, 9)}
Draw OBTRA on plot OBTR

For some reason, my filters aren't clickable anymore. :(

Filter Exchange · Bearish - ADX based filter
msg #86471
1/17/2010 9:12:48 PM

Looks like a nice filter for a short-term short.

You might consider adding a general indicator of short-term money flow into or out of the stock. Perhaps something like:

5 day slope of OBV < 0
20 day slope of OBV < 0

Or substitute other time frames or use the slope of a short period accumulation distribution < 0 rather than OBV

In any case, maybe at least visually inspecting the OBV or A-D lines to see how they look. If you can find stocks in which the recent uptick in price isn't supported by volume or can find some other indication that the stock is under distribution, if might improve the percentage chances for finding the decliners.

Filter Exchange · Can anybody please help me to write this filter
msg #86467
1/17/2010 8:20:25 PM

ahh...good ol' stockcharts programming language....If you've recently joined this site after being on stockcharts, you'll find the filter programming function here a nice step up. Spend some time reading the manual and you should be able to replicate everything you were doing there very quickly and write much more creative filters.

Regarding your filter, unfortunately, SF can't sort stocks by country.

Otherwise, this is probably close to what you're looking for

Close > 5
Ema(average volume(60)) > 150000
High < high 1 day ago
ma(10) > ema(30)
Close > ema(30)
Close > ma(200)
weekly ma(10) > weekly ema(30)
Adx(10) > 20

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