Retracement + Bounce

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hilarius

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Post Number: 2396
Registered: 04-2004

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Votes: 0


Saturday, June 23, 2007 - 08:19 am:

Colin

I am keen to develop a scan using IC which detects

(1) A retracement close to the 50day EMA of a stock that is rising

(2) A bounce off that retracement point with double normal volume

The second part is easy using the volume spike scan

I am not sure how to do the first part

Using non-IC methods is proving fruitful but I would like to do it through IC if possible

Other optional retracement points (eg 150 day ema) would be handy but initially I want to test retracements towards the 50 day ema with a tolerance of say 2% above or below it

Is this possible to do now, or in the future?

With Best Wishes

Hilarius

I come in peace to share my thoughts and to shine my candle light on possible long term opportunities

colin_twiggs

Member

Post Number: 2940
Registered: 09-2002

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Votes: 0


Saturday, June 23, 2007 - 02:02 pm:

Hilarius,

It is easy to find stocks in close proximity to the MA using
Bollinger Bands:
MA 50-day
Minimum -50 (equal to 0.5 standard deviations from the MA)
Maximum 50

However, you may need to limit the search to stocks that have not fallen lower than say 2% (or 0.5 STD) below the MA in the last 20 or 60 days. That is difficult to achieve with the present screener. We can only filter for stocks that have not crossed below the MA itself in the last 20 or 60 days:
MA Crossovers
Close
50-Day MA
Bull Signal
Within 9999 days (to return ALL stocks above the MA)
Sort the return according to the number of days above the MA and eliminate those below 20 or 60 days.

Regards,
Colin

hilarius

Member

Post Number: 2400
Registered: 04-2004

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Votes: 0


Saturday, June 23, 2007 - 02:18 pm:

Many thanks for that Colin

I will try those suggestions and see how they compare with my somewhat inelegant and heavy duty Excel work sheet

I am hoping the results will be good and that I can then swing across to using IC only

Another IC member has offered to scan for me using another product, but long term a good IC Scan would be the answer

(Still looking forward to the Gold Coast Weekend Conference/Workshop to maximise the way IC members use the functionality which IC offers ... better not tell anyone its a bit cool up here this month :-)

)

(A Spring conference would be great ... beautiful one day, perfect the next !)

I come in peace to share my thoughts and to shine my candle light on possible long term opportunities

colin_twiggs

Member

Post Number: 2941
Registered: 09-2002

Rating: N/A
Votes: 0


Saturday, June 23, 2007 - 02:35 pm:

Roger,
We have almost completed the upgrade of Drawing Tools, which will enable us to start on the Indicators & Stock Screener.

I recognize the need for workshops, but will need to hire at least one if not two more staff members in order to do them justice.

I enjoy the weather this time of the year - but Spring may suit a wider audience.

Regards,
Colin

hilarius

Member

Post Number: 2401
Registered: 04-2004

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Votes: 0


Saturday, June 23, 2007 - 03:28 pm:

I wonder if there are any casual staff among your more skilled users?

I take it you wouldn't need a permanent hiring for at least a pilot seminar?

Just wondering

Hilarius (a seminar customer not a skilled user)

I come in peace to share my thoughts and to shine my candle light on possible long term opportunities

colin_twiggs

Member

Post Number: 2942
Registered: 09-2002

Rating: N/A
Votes: 0


Saturday, June 23, 2007 - 03:49 pm:

I thought you might be volunteering

We could hire a specialist to do all the organization, bookings, and promotion - but I will need someone to take over many of my existing responsibilities so that I can concentrate on preparation. That is long overdue and would be a permanent position.

Regards,
Colin