Archive through January 31, 2006

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julles

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Post Number: 1610
Registered: 01-2003

Rating: N/A
Votes: 0


Friday, January 20, 2006 - 12:20 am:

Something else that should be considered,

As Stickman brought this chart pattern to our attention I'd like to see it renamed from nr4 to stickman, stick, man or something like that!

I'm not comfortable in going further with the pattern until the person who brought it to our attention's is held in the hall of fame.

I hope you all agree with me. :-)

culion

Member

Post Number: 9
Registered: 02-2004

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Votes: 0


Friday, January 20, 2006 - 01:27 am:

fibonacci, you might consider the Connors-Raschke refinement of Crabel's ID/NR4 which requires that the 6-day historical volatility to be less than half of the 100-day historical volatility (i.e., ratio is less than 0.5). I find that using their volatility filter and strategy produces fewer trades but a higher % are successful. My scans for both NR4 and C-R's NR7 incorporate their use of volatility and strategy.

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crowboy1960

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Post Number: 20
Registered: 12-2005

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Votes: 0


Friday, January 20, 2006 - 01:52 am:

I've found what looks like a nice NR4 on the short side. I've got the impression that the NR4s work just as well for the short side but wouldn't say I've really investigated it in depth. Given that it's teeny tiny compared to the 3 preceeding bars might be interesting as they seem to often be pretty good.

Seeya,

CB.

peter1

Member

Post Number: 3
Registered: 12-2005

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Votes: 0


Friday, January 20, 2006 - 12:51 am:

Thanks John. I came across this excellent example of a NR4 while scanning the charts. Unfortunately this one got away.

pgl

BTW John, I have given your swing,trend re-entry setup some serious thought also, espec. because of the low-risk entry. Cheers Peter.

crowboy1960

Member

Post Number: 21
Registered: 12-2005

Rating: N/A
Votes: 0


Friday, January 20, 2006 - 08:00 am:

Hi all,

Just a bit of clarification about my scans. They are in fact detecting the narrowest range in the last 4 days and an inside day, but with no bells and whistles. It would be nice to add some but I don't have a good enough understanding of what makes them tick, I just know that they're really neat. It would probably just be easier for me to post the formula here since it seems to have become fairly topical, so if anyone wants to modify it or "port" it to other TA programs feel free. NR4 might be coming up in a future version of IC so Colin and his crew might even make it a bit more discrminating. The formula is as follows:

NR4.afl:
=========================================================

RANGE = H - L;

NR4 = H <ref(> Ref( L, -1) AND /* Inside day */
RANGE < ( Ref( H, -1 ) - Ref(L, -1 )) AND /* Range < yesterday */
RANGE < ( Ref( H, -2 ) - Ref(L, -2 )) AND /* Range day before yesterday */
RANGE < ( Ref( H, -3 ) - Ref(L, -3 )) AND /* Range 2 days before yesterday */
StrLen( Name() ) == 3; /* Only return shares */

Filter = NR4;

AddColumn(C,"Close", 3.3 );

/* Debug stuff
AddColumn( RANGE, "Range", 1.2 );
AddColumn( Ref( H, -1) - Ref(L, -1 ), "Range-1", 1.2 );
AddColumn( Ref( H, -2) - Ref(L, -2 ), "Range-2", 1.2 );
AddColumn( Ref( H, -3) - Ref(L, -3 ), "Range-3", 1.2 );
AddColumn( Inside(), "Inside Day", 1); */
Plot( C, "", colorBlack, styleCandle);
PlotShapes( IIf( NR4, shapeSmallSquare, shapeNone ), colorGreen );

===========================================================

The PlotShapes code will put a green square under each NR4 day.

This was written for AmiBr*ker and I don't want to get into a debate on which is better, I use both AB and IC and find them quite complementary.

I will keep on posting my NR4 scans but have no plans to do anymore work on the scan formula itself. I do agree it would be nice to build some more discrimination into the formula as in my testing I noticed that they are relatively plentiful, as Peter1 mentioned, with varying results, some of which are very spectacular. Sticky probably is the best person to comment on that as they are his baby and he seems to be fairly successful at sifting out the good ones from the bad.

Happy trading,

CB.

perler59

Member

Post Number: 795
Registered: 09-2003

Rating: N/A
Votes: 0


Friday, January 20, 2006 - 03:38 pm:

Cowboy, I think there's a little code missing from the 2nd line. Is this what you meant?

NR4 = ((H_<_Ref(H,-1))_AND_(L_>_Ref(_L,_-1)))_AND_/* Inside day */

Remove the underscores. A filter is screwing up the post!

(Message edited by perler59 on January 20, 2006)

http://sttc.net.au/~stever

crowboy1960

Member

Post Number: 22
Registered: 12-2005

Rating: N/A
Votes: 0


Friday, January 20, 2006 - 04:11 pm:

Well spotted,

Seems to be a problem with HTML conversion (it thinks "< Ref" is a HTML tag methinks), I'll try posting with HTML turned off.

+++++++++++++++++++++++++++++++++++++++++++++++++++++++++++

RANGE = H - L;

NR4 = H < Ref( H, -1) AND L > Ref( L, -1) AND /* Inside day */
RANGE < ( Ref( H, -1 ) - Ref(L, -1 )) AND /* Range < yesterday */
RANGE < ( Ref( H, -2 ) - Ref(L, -2 )) AND /* Range day before yesterday */
RANGE < ( Ref( H, -3 ) - Ref(L, -3 )) AND /* Range 2 days before yesterday */
StrLen( Name() ) == 3; /* Only return shares */

Filter = NR4;

AddColumn(C,"Close", 3.3 );

/* Debug stuff
AddColumn( RANGE, "Range", 1.2 );
AddColumn( Ref( H, -1) - Ref(L, -1 ), "Range-1", 1.2 );
AddColumn( Ref( H, -2) - Ref(L, -2 ), "Range-2", 1.2 );
AddColumn( Ref( H, -3) - Ref(L, -3 ), "Range-3", 1.2 );
AddColumn( Inside(), "Inside Day", 1); */
Plot( C, "", colorBlack, styleCandle);
PlotShapes( IIf( NR4, shapeSmallSquare, shapeNone ), colorGreen );

CB

(Message edited by CrowBoy1960 on January 20, 2006)

fibonacci

Member

Post Number: 76
Registered: 10-2003

Rating: N/A
Votes: 0


Friday, January 20, 2006 - 05:05 pm:

GREAT thread isn't it?

Peter, providing one considerEd that your PGL NR4 was in the same direction as current trend that would be a classic. How text book is volume?
The reason I like this is it's ALL ABOUT PRICE, same as my "Daily Charts - Trending" posts.

Following comment is relevant to both threads [well I think it is].
I've come to the conclusion that if I have a good method I should take ALL signals as I have know way of knowing, in advance, which ones are going to deliver the best profit.
We all know which ones we choose if we decide to pick and choose subjectively.
With crowboy's wonderful scan results we each would reduce the list of candidates simply by our areas of interest e.g. I'm only top300.
However it's that thought which prompted me to wonder if a least a small number of additional criteria could be helpful and we've already had people thinking along those lines but we must be careful not to curve fit or overoptimise/complicate as we lose the uniqueness that made NR4s successful.

Using IC's Watchlists has helped me by [say] only taking LONG signals from a watchlist of stocks with VERY STRONG UPTRENDS. Another possibility is a list of stocks with a suitable personality for the method in question [say -if I want to apply stops close to previous day's low then these stocks must have the ability to trend nicely, at least for a few days.] This list is chosen by eyeballing and needs constant revision.

So taking ALL signals becomes possible, in terms of numbers, AND OBJECTIVE if I only apply scan results to a much smaller, filtered, watchlist.

John

You've got to
know when to hold 'em
know when to fold 'em.

crowboy1960

Member

Post Number: 23
Registered: 12-2005

Rating: N/A
Votes: 0


Friday, January 20, 2006 - 11:15 pm:

NR4s for 20/1/2006:

Just in case anyone is trying to use my NR4 formula with AB you need to run it as an exploration not a scan.

Ticker,Date/Time,Close,
APA,20/01/2006,4.010
AVM,20/01/2006,0.720
AWE,20/01/2006,2.570
AXA,20/01/2006,5.160
AXO,20/01/2006,0.650
BDI,20/01/2006,0.585
BIT,20/01/2006,0.310
BKW,20/01/2006,12.720
BLD,20/01/2006,8.300
BWP,20/01/2006,1.940
CPB,20/01/2006,12.900
CRT,20/01/2006,0.680
EQI,20/01/2006,1.470
GAU,20/01/2006,0.105
GRD,20/01/2006,2.800
GRO,20/01/2006,1.555
IVK,20/01/2006,0.022
JBH,20/01/2006,4.230
NEM,20/01/2006,7.810
NLS,20/01/2006,0.135
OMP,20/01/2006,3.350
ORG,20/01/2006,7.150
QBE,20/01/2006,19.640
QTK,20/01/2006,0.280
RHC,20/01/2006,9.470
SDG,20/01/2006,1.645
SEA,20/01/2006,0.555
SFY,20/01/2006,47.100
SGB,20/01/2006,29.550
SSI,20/01/2006,3.700
STI,20/01/2006,0.200
STU,20/01/2006,1.240
STX,20/01/2006,0.235
SYB,20/01/2006,3.460
TBG,20/01/2006,1.330
TWR,20/01/2006,1.955
UNX,20/01/2006,0.200
VPG,20/01/2006,1.340
WOW,20/01/2006,16.830
XHJ,20/01/2006,6163.400
XSJ,20/01/2006,5935.000

It's been an "interesting" week hasn't it. Oh, well, start picking up the pieces time again for me :-)

Good luck,

CB.

stickman

Member

Post Number: 684
Registered: 06-2004

Rating: N/A
Votes: 0


Saturday, January 21, 2006 - 04:27 pm:

Hi Jules thanks for the kind words cheers

remember folks if it aint broke don't try and fix it KISS works for me ?

thanks for the scan Crowboy

sdg looks okay but with uncle sam having a slight fall ??

cheers

Trade to Learn, Not to Earn

stickman

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Post Number: 685
Registered: 06-2004

Rating: N/A
Votes: 0


Saturday, January 21, 2006 - 04:31 pm:

Trade to Learn, Not to Earn

peter1

Member

Post Number: 3
Registered: 12-2005

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Votes: 0


Saturday, January 21, 2006 - 01:06 am:

Thanks CB. I have quickly looked at the charts and have narrowed it down to just these few.

AWE, BDI, BIT, BLD, CPB, GRO, ORG, STU, TWR.

My trading plan has a few more criteria, like trend, volume, OBV, candles patterns to go through and I think that I may end up with 2 or 3 final trading candidates.

So check these nine out, for educational purposes only, of course.

stickman

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Post Number: 686
Registered: 06-2004

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Votes: 0


Saturday, January 21, 2006 - 04:43 pm:

cheers

have a good week all

Trade to Learn, Not to Earn

endorphin

Member

Post Number: 18
Registered: 09-2005

Rating: N/A
Votes: 0


Sunday, January 22, 2006 - 10:16 am: