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I.C. Mobile App... an incredible oportunity presents...

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spdfgh
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Saturday, April 29, 2017 - 12:10 pm:Copy highlighted text to 'New Message' boxEdit Post Delete Post Print Post    View Post/Check IP (Moderator/Admin only) Ban Poster IP (Moderator/Admin only) Move Post (Moderator/Admin Only)



An interesting opportunity presents itself as Collin develops the PC version of the Incredible Charts Mobile App ... If the intention is to advance the I.P., and I would very much hope that is the intention? and not just replicate the current iteration onto another platform.

If the programming skills are up to the challenge, an incredible opportunity presents itself to hugely advance the I.C. software that has the potential to attract a greater uptake of the software. But it will take more than just static old school chart thinking.

With the relatively cheap live data available today, there is opportunity to program a platform to filter on the fly a wide array of filters and alerts, price, volume, volatility & momentum based, much like what the current stock screener does statically now; but filters and list in real-time. This would be a game changer for I.C., advancing the focus from static single chart study of a stocks to a system where the charts are used actively to confirm a trade decision based on programmatic filters. Let the system do the hard yards, that's what computers are good at doing; so that the program lists potential trades in real-time, daily & minutely.

After following daily price charts for over 10 years now, and still find I am usually not on the action but usually well behind the action, or following others actions albeit not very confidently when committing to a stock ptrade based on the many current chart indicator signals that take ages to individually assess from watch lists that constantly needs maintenance and manual screening.

Think of a platform that once set-up to your variables; weather it be price or volume, or MACD crossings, Point & figure resistance breaks, momentum or volatility systems and or combinations of all these. This could easily be 'live filtered' so that all the trader has to do is pick from the filter results one or two stocks daily or weekly, do some research & commit to the trade. If the average of successful trades is 50/50, then it takes a structured system to positively advantage the averages in the traders favour.

I remember around 2003 there was a system for trialing (found on Top$tocks forum, cost $3500 p/a), that worked like this, although gone now?, I tried it for 2 week demo period with the in-system $10,000 test amount, at the end of the 2nd week I was up 4K, although I had not taken any real trades just system trades. It was a price & volume based filter system that popped out 2 to 3 stocks every day that met the filter criteria, the trader then used their own means and broker to make the trade. The system filtered out and tagged the stock with a buy then when criteria was met, and a sell, as they became non trades.
That platform showed me there were alternatives to the static charting technical ways, I didn't take the subscription, I would have if had more expendable finances at the time.

Which brings me to the following;
There are two types of traders; traders who are already well financed, and traders who are trying to build wealth through trading. I'm personally from the later group, have been for decades and are still trying. I continue based on what I see in the historical chart, and from what I hear about others successes of turning 5K into 150K. I see it as my only way out of financial dependence on 5 day week servitude employment, if you don't have wealth behind you then you really have no opportunity to build cash ready wealth, due to your income being mostly locked into debt loan re-payments.

So I operate in a stock market that is driven mostly by well financed people operating individually or as trading groups that target stocks on a daily basis probably through alerts from live trading systems. People who are able to, if they don't get a signal correct, have the moneys available to buy out a stock until the buy orders fill in, then sell into those new orders, and make a nice profit margin for their mistakes.
I see it all the time watching the market. These traders must buy on signals, if the signal proves positive they buy more, if not then they buy more then dump on the market. But it is signal based system I'm sure. And i suspect these traders generally run the market.

What gives these traders the confidence to commit $30,000 plus on stocks that have no immediate positive profit or dividend profile, companies that are mostly, for years, have been operating on debt? My guess is a live dynamic trading system that produces 3 to 4 stocks daily probably based on price & volume, Momentum & volatility, some indicators like MACD crosses & Bollinger bands pinches.
How some of these stocks will interest traders is a mystery to me, stocks with 1.5 billion plus shares on issue and negative earnings yield somehow attract traders so that the stock will advance 50 percent in a week with zero positive announcements. I know the stock-market is a speculative place, but some of the money being thrown about on these stocks simply astounds me, it must be done with confidence, and I would suggest based on a system that actively filters from the wider market.

And I have come to the conclusion this is what I really need to be more successful at trading, instead of subjective daily multitude of manual stock chart analysis from a multitude of indicators, from a multitude of watch lists stuffed with a multitude of stock codes.

(Message edited by sPdFgH on April 29, 2017)


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colin_twiggs
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Sunday, April 30, 2017 - 08:46 pm:Copy highlighted text to 'New Message' boxEdit Post Delete Post Print Post    View Post/Check IP (Moderator/Admin only) Ban Poster IP (Moderator/Admin only) Move Post (Moderator/Admin Only)



Thanks Spdfgh,

That certainly gives me food for thought.

The whole purpose of the new platform is to speed up development and provide greater flexibility. Even then, development is a slow tedious process that takes many man-hours and lots of $$$. So we have to be careful about the development choices we make.

The first issue is: what time frame is most likely to deliver the most benefit. Long or short? Discussion of what time frames are the most profitable to trade warrants a separate thread, but I will attempt to kick off the discussion here.

I believe that the market is dominated by the big money investment houses and super funds who generally take a long-term view of the market. HFT generates large volume but little direction as they are simply trying to 'front-run' the big money. Retail investors are dominated by long-term SMSF investors as well, while traders are a small slice of the pie.

Now the big money may describe their view as long-term, but this would generally be 2 to 3 years as they have to account to investors for performance. I would call this medium-term to distinguish them from the truly long-term SMSF investors who buy Telstra and the banks (for example) and seldom if ever sell them.

If we are to make money we either have to feed off the big money herd, like wolves following the reindeer migration, buying and selling in shorter time frames, or else play the long game, buying stocks with a 5 to 10 year time horizon.

I prefer the long game, but that may be more a matter of temperament than any kind of statistical evidence. However, there seems to be far more wealthy long-term investors than short-term traders.

I hope other readers will weigh in with their views.







My views expressed on this forum do not consider your personal circumstances and should not be considered as financial advice. Please conduct your own research.

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danielc
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Monday, May 01, 2017 - 01:05 pm:Copy highlighted text to 'New Message' boxEdit Post Delete Post Print Post    View Post/Check IP (Moderator/Admin only) Ban Poster IP (Moderator/Admin only) Move Post (Moderator/Admin Only)



2 Great posts.. thought provoking.. but like Colin said pens on temperament..me..i am more the shorter term thinker.. mainly trade the ASX 200 run in get some points an get out..just this morn in and out 7 times..in 2 hrs..thats just me thou..not a real steady person..tomorrow morn probably sit here and get nothing all morn..just as matter of interest this morning it took off like a scalded cat on some hi vol spikes then it fell hard on low vol..now as we speak its going back up on increase volume.. see this pattern quite often.. algos at play..???????


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spdfgh
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Monday, May 01, 2017 - 08:02 pm:Copy highlighted text to 'New Message' boxEdit Post Delete Post Print Post    View Post/Check IP (Moderator/Admin only) Ban Poster IP (Moderator/Admin only) Move Post (Moderator/Admin Only)



Colin:
Appreciate your input, I would think if you had sufficient capital spare 100K plus lying around, you would be inclined to put it on high yield blue chips for 5-9% pa, better than parking cash in a bank at 1.5%, you would only need 2-4 stocks a year which makes it very easy to manage the buy & sells. You probably wouldn't spend every night scanning for opportunities.

On the other hand if you don't have excess cash lying around, say only 20K that you break up for your trading, you tend to chase more speculative stocks that will be higher potential return but short term holding oriented; 3K spread over 5 or so stocks. But you have to be careful they turn against you very quickly. I can't see putting 20K into high div. yielding blue chips for 12 months at a time being very beneficial; it is simply no worth tying up your money this way, this is the reality of having no capital. So short term high speculative trading on many stocks is the only way out of limited funds, if you get it right.
p.s. I was hoping to focus my original post on the future development of software here at I.C. that could address the different schools of traders; short, medium & long term. Probably long term & medium term traders would be satisfied with current I.C. iteration of a few WatchLists, manual Stock Screener & 2 to 4 indicator slots.


danielc
Would really like to know how you establish your stock selection, are you constantly scanning the market manually with I.C.?
Is the selection criteria found through using I.C. stock screener & watchlists?
And would a more dynamic automated screener system be beneficial to your daily trading?

Thanks-


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colin_twiggs
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Tuesday, May 02, 2017 - 12:50 pm:Copy highlighted text to 'New Message' boxEdit Post Delete Post Print Post    View Post/Check IP (Moderator/Admin only) Ban Poster IP (Moderator/Admin only) Move Post (Moderator/Admin Only)



Spdfgh,

Long-term (5-10 years) does not necessarily mean high yield blue chips. In fact quite the opposite if you are trying to build a capital base.

Trading small amounts with frequent buys and sells is likely to erode your capital through brokerage.

Use of debt/CFDs enhances volatility at a faster rate than returns and is likely to have similar consequences.

Selecting a handful of stocks with strong growth potential and hanging on to them is likely to deliver superior results. Identifying the right stocks to hold is the key as you have to have the conviction to ride out any setbacks.

Alternatively, trade a handful of cyclical stocks (gold, resources, energy, construction, materials, consumer discretionary, investment managers, etc.) using a trend-following system like Bollinger Bands. Here, timing entries and exits is more critical.

(Message edited by colin_twiggs on May 02, 2017)


My views expressed on this forum do not consider your personal circumstances and should not be considered as financial advice. Please conduct your own research.

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spdfgh
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Friday, September 29, 2017 - 09:26 am:Copy highlighted text to 'New Message' boxEdit Post Delete Post Print Post    View Post/Check IP (Moderator/Admin only) Ban Poster IP (Moderator/Admin only) Move Post (Moderator/Admin Only)



This chart and indicators would make for a pretty good dynamic scanning system, that could populate a watch-list as the parameters are met, there could be a number of icons on or beside the watch-list code to monitor price, volume, momentum and indicator phases. There could easily be two or three filter scans selected for the Primary and Secondary scan, utilising smaller (MACD) settings.

I would envisage 2 watch-lists and a portfolio;
1. the stock code would need to be first populated to a watch-list as the initial primary scan parameters are triggered.
2. then to a secondary watch-list as the indicator parameters are triggered, which would be a Trade Ready watch-list .
3. A Portfolio watch-list to drag and drop the Trade Ready stock code into to make paper trade data entries and to simulate and monitor the trade. A user defined trailing stoploss could be applied to stocks within the portfolio.

Each step of the way there would need to be indicator phase flag symbols to prepare you for the entry / exit phases.

Once the Primary and Secondary indicator signals are met, and exit parameters are triggered the stock code would (after being flagged) be de-populated to the Primary Watch-list, and either left there until user deletes, or stock code is re-triggered into second watch-list.
This could be applied equally to end of day scans for long term holders or as live data intra-day scans for day traders or short term holders.

Also being able to collect company information and database it for screening company fundamental information, maybe have a module of 'standard fundamental company parameters' as fields, information that is either sourced from a server data base or from user input, for the stocks that meet the primary scan filter, that can then be used programatically for fine filtering for the second watch-list.

With the current chart setups I can only physically manage about two trades per week on two known stocks with 15K per stock indicator cycle trading, so this currently suits my capital base.
I would ultimately like to have the capital for 5 ongoing trades with say; 30K dedicated for each stock code & trade that would allow 30k split into 2 parcels of 15K for each stock. 5x30 150K.

The advantages of this dynamic setup means that I am freed from physically eyeballing a multitude of single charts from the current scan filter system and with the current fixed indicaotr settings and limited indicator selections.
This may be very helpful when I travel for 12 months or longer and are confined to a laptop in a campervan. Having a system that automatically filters scans down to 2 new trading candidates per month (or week) would make life a lot easier.

Ultimately I would like to be able to identify stocks entries and holding as shown in this link:
https://pro.portphillippublishing.com.au/p/t3quasystemqfull/WQUAT603/?h=true


In the old QuoteTracker program this could be written as a bunch of linked paintbars, symbols or a sound or email alert, I have started writing one in my old non-functioning program and will post when I get the time to finish, but I have no stock code data to visually test it.




(Message edited by sPdFgH on September 29, 2017)


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spdfgh
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And I might add that within the portfolio; a back-testing module based on the selected Primary & Secondary set of filter scans, and portfolio holdings, that could then be processed to the chart-program charts with buy and sell symbols at back tested locations, and to establish future probable profit stats.
Or maybe where a multiple chart view would be useful to visually check the back-test results to view scan result list (or in portfolio view; back-test result list) as charts.

(Message edited by sPdFgH on September 29, 2017)

(Message edited by sPdFgH on September 29, 2017)


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spdfgh
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I like the way this software allows you to visualise 3 time frames at a glance, very helpful.
The scanner is user friendly in that it lets the user define the indicator setup. Scans can be greatly fine tuned. The only thing it lacks is an automatic Real time scanner, or maybe you get that with the paid version?...




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spdfgh
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Friday, January 26, 2018 - 12:54 pm:Copy highlighted text to 'New Message' boxEdit Post Delete Post Print Post    View Post/Check IP (Moderator/Admin only) Ban Poster IP (Moderator/Admin only) Move Post (Moderator/Admin Only)



Another very sold trading platform; TradingView. Custom scripting implemented through the built in editor with the Pine language (Not a fan).
I skilled up on QuoteTracker's scripting definitions and view anything more complicated to be unnecessarily painful.
Although in QuoteTracker you needed built in indicators to start with.

Pine allows the user to make their own indicators, but the drawback is you need a very good understanding of the language beforehand.
TradingView allows the user to apply different time scales to indicators as a standard indicaotr selection, so you could have a daily MACD on a 1 hour chart and visa-versa. All said TV is not bad but is quite limited for what it could have been, and I'm talking about real-time scanning and multiple chart windows.

From all the Charting applications I have reviewed NONE implement real-time automatic scanning of Market data and or user Watch Lists via custom indicator settings or OHLC Volume formulas.
There is a very good opportunity to get this implemented in Incredible Charts future platform.

I strongly believe this is what will make all the difference; adding consistent high success rates to a trader, for short term and long term traders.
Add real-time market data and it will be a winner!



(Message edited by sPdFgH on January 26, 2018)


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dydavo
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Interesting thread. I don't agree that trading is either a 5 year or 5 minute view time frame. I trade with the expectation of holding a stock forever, but they always consolidate, and in the meantime, other trades give better likelihoods of showing a nice profit over a few weeks.

I use IC to confirm and monitor my positions, but I find an advantage in also using other software to give me intraday alerts every hour or so. That is working very well for me. My "short list" of about 200 ASX stocks with TMO 13 day above about 10% (and sufficient turnover value) can be viewed dynamically. All I have to do is check emails when they arrive, and then review in IC the individual stock alert from the other software. I'm happy to share the details if Colin is happy with that.

This process is not ideal, but I find reviewing intraday buy signal possibilities (eg, new 52week highs) is very helpful. For example, The $BAL breakout on high volume on January 16 2018 was best bought on the day of the break, Jan 16.I remain long BAL.

Cheers
dydavo


David
Momentum trading for a living.

Disclaimer: Please note that comments made in this column are mainly for the interpretation of charts in technical analysis. It should not be taken as advice.Any share discussion is for general interest and should not be relied on to make an investment decision.It is likely that I may own the shares that we discussed as a trade or as an investment. Shares might be sold without notice. Please consult your stock broker or financial adviser in regard to your personal situation.

The views expressed here contain information derived from public available sources that has not been independently verified.No representation or warranty is made as to the accuracy, completeness or reliability of the information.Any forward looking information in this representation has been prepared on the basis of a number of assumptions which may prove to be incorrect.It should not be relied upon as a recommendation or forecast by the writer.

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spdfgh
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A mixed bag of how Quote Tracker was coded to colour incicators/backgrounds/candle colours/histograms etc.:

And yes; please share dydavo.

-CANDLE BEARISH DDS-
if Bar Close< Bar Open
And Bar Close<Bar Close[1]
And Bar Close[1]>=Bar Open[1]
And Bar Close[1]>=Bar Close[2]
And Bressert DSS(11).Main>= Bressert DSS(11).Main[1]
And Bressert DSS(9).Main<=Bressert DSS(9).Main[1]
set color to White and stop

-CANDLE GAIN-
if Bar Close[1]<=Bar Open[1]
And Bar Open<=Bar Close[1]
And Bar Close>Bar Open
And Bar Close>Bar Open[1]
set color to Yellow and stop

-CANDLE WICK 15%-
if Bar Close>=Bar Open and Bar High>Bar open
And ((Bar High-Bar Close)>= (Bar High-Bar Low)*0.15)
set color to $B900B9 and stop



(Message edited by sPdFgH on February 07, 2018)


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dydavo
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I'm not smart enough to understand the coding I'm afraid. Is it possible to see images of examples?
What sort of time frame is being targeted?

Example buy for me today is NEA.
Reasoning via TA:
Looks like attacking a new 52 week high
TMO 13days back above 9%, and increasing again. Positive respect of a rising 13 day ema of TMO is fundamental for me, and I like to grab those early, or when showing new continuation.
A couple of good volume days in the last week or so also useful
Resisted the recent selling pretty well, and on the move again
Force Index 13 d bounce of 0

I guess the point is that my indicator scan/s only give a list of possibles - I still have to evaluate the "shape" of the last few months. Is it a breakout, trend reversal, or trend continuation?

I also use a MACD 14 7 5 above 0 and showing new strength in my scans.

And then Morgans is optimistic about the future price action!

Anyway, what I do doesn't matter - there are many TA pathways to the same outcomes.

Some real-time examples would be interesting.

NEA today is below.Not sure if all this is helpful, but I like the aim of the project.









David
Momentum trading for a living.

Disclaimer: Please note that comments made in this column are mainly for the interpretation of charts in technical analysis. It should not be taken as advice.Any share discussion is for general interest and should not be relied on to make an investment decision.It is likely that I may own the shares that we discussed as a trade or as an investment. Shares might be sold without notice. Please consult your stock broker or financial adviser in regard to your personal situation.

The views expressed here contain information derived from public available sources that has not been independently verified.No representation or warranty is made as to the accuracy, completeness or reliability of the information.Any forward looking information in this representation has been prepared on the basis of a number of assumptions which may prove to be incorrect.It should not be relied upon as a recommendation or forecast by the writer.

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spdfgh
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This thread is simply to illustrate a collection of software approaches to making stock market charts. In the hope the next iteration of Incredible Charts is just that; incredible.

What I find useful as a cycle trader, to some of the different package approaches that the I.C. Dev. team may find useful and they may not be aware of.

The QuoteTracker codes are posted above to highlight how a simple coded system works brilliantly, without having to go to the extreme of implementing complicated programing languages. QT scripting can then be applied to a symbols library to print arrows circles and boxes, colours strips at bottom, middle and top of chart, add colours to candles and candle backgrounds and or linked to indicators candle action, what ever you code for. The one posted above was for different histogram and main/signal colours through the various cycles of the MACD above and below zero, probably just eye candy, but I find it useful none the less, otherwise everything would be done in white.

Multiple chart Windows for;
different chart types: Line close with points, HA candle, OHLC Candle and,
different time frames: 30minute. 1 hour, daily and weekly, all at a glance or spread across 2 monitors. This is what ProRealtime Trader offers as well as a customisable indicator scanning; albeit end of day in the free to use version.

TradingView offers the user-base the ability to share various customised indicator programming and signal setups. It has saved having to write my own by simply searching in the database, then I can make a few changes and I'm almost happy. The problem with this package is the complicated programming language that stops me from really fine tuning the setups. Also combined with a lack of multiple windows (although multiple browser windows are available) the shortcomings become obvious and frustrating. T.V. also offer refresh scanning with free to use version, but with limited built in fixed indicators, not sure how flexible they become with paid version. I only use this scanner for (x) weekly highs, as ProRealtime offers more customisable depth.

I would really like to see watch lists populated (in real time) with user defined indicators and coded scans, that would save hours of doing scans end of day and going through dozens of charts every day.

Drag and drop between watch lists would be a good feature.

My new 32" monitor (Res 3840x2160) is great for having lots of windowed information at a glance, these monitor are becoming standard for charting use as they become cheaper to buy.

What I would like to see is other peoples examples of how you approach your trades, and what features would make your life easier for your trading trading, for 'if and when' the I.C. development team put together a (complete package) then it will only attract other traders, and as I have said before the toolbox is almost complete, but as a basic standard vanilla chart approach; I just can't see a future there with so many free to use value added packages out there.

It's almost pointless posting 32" monitor screen grab images in this forum as the limitation is for 800x600 only, and when reduced the image quality drops a lot.




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dydavo
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OK, here is something that I would find interesting immediately for a short list to consider; all of the below in combination, or a combination that I could self-select.

5day ema is above the 20 day ema
5 day is above the 50 day ema
5 day is above the 200 day ema
5 day ema ticked up today
20 day ema ticked up today
50 day ema ticked up today, and
TMO(5) Is Above 0
TMO(5) Trending Up Last 1 Bars
TMO(10) Trending Up Last 1 Bars
TMO(10) Is Above 0
TMO(21) Is Above 0
TMO(21) Trending Up Last 1 Bars


David
Momentum trading for a living.

Disclaimer: Please note that comments made in this column are mainly for the interpretation of charts in technical analysis. It should not be taken as advice.Any share discussion is for general interest and should not be relied on to make an investment decision.It is likely that I may own the shares that we discussed as a trade or as an investment. Shares might be sold without notice. Please consult your stock broker or financial adviser in regard to your personal situation.

The views expressed here contain information derived from public available sources that has not been independently verified.No representation or warranty is made as to the accuracy, completeness or reliability of the information.Any forward looking information in this representation has been prepared on the basis of a number of assumptions which may prove to be incorrect.It should not be relied upon as a recommendation or forecast by the writer.

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spdfgh
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Thanks Dydavo, that looks to be a good one.

If I could bring your filter setup thinking around to how a filtered watch-list could be dynamically populated and un-populated. How would that watch-list structure / trend identifying be based on, if it were to be designed for.

Obviously it's the Trend we need to focus on, but even trending stocks wobble greatly up and down throughout the trend phase, sometimes very sharply. So general market conditions need to be implemented into the system, much like VectorVest have done with their Market Timing Gauge. (google image search for VectorVest)

I use two long term set MACD's as the primary stock selection trend identifying factor, and then two more MACD's to identify the cycle phase of the primary trend, but it could be a number of other indicators like TMF, TMO and PVI.
So a watch-list would always have 'positive trend' filter results to base further studies on to populate a final trading watch-list, and then should be de-populated of results if and when the primary trend goes negative; so as to not flood a watch-list with obsolete trend results.

I envisage this would be the backbone of the system throughout the various scan filter levels. Having visual access to the various levels enables the user to weed out any false positive stocks that do not interest and maintain integrity of the setup. But it could all work behind the scenes.

Drag and drop between watch-lists would be advantageous also, as the biggest problem with most applications is that watch-list maintenance is arduous without this.

I like the idea of reducing my time spent scanning charts after market, so being able to identify and concentrate on a selection of trending positive stocks without distraction would reduce my time manually doing this every day. If it is presented to me automatically then I could switch between the end selection as trend phases present without having to go through several chart packages and email alerts. Think of the automatic gearbox in a car that gets you up to speed, the machine does the work without having to use a clutch and shift gears all the time, accelerator and brake the only speed controls of the machine.

I use to design databases so know what can be achieved by using 'sort filters' on Tables to populate linked Tables and then run filters of those Tables for reports etc. With this approach in mind it would be possible to design a stock filter scanning database system for charting that operates on a selected time period data feed to do multi layered conditional filter scans.
It would involved a multi-layered system that could also be designed to have a conditional symbol library system for each code found in the filter results, representing the conditions of the scan formulas and indicator conditions at the various report levels.

I really think the above is feasible (with my background in databases), and would make for a completely "unique" program that no one else has attempted. I have come to the conclusion that a chart 'is only' the end result of the underlying program function, and that underlying function determination is based on various market Trend sources, and the rest of that function on OHLC and volume data, and user indicator parameters.

I have found through experience that getting stuck in a stock is like a slow death, and once the opportunity passes to exit with minimal loss has passed, you get that sinking feeling in your gut and it lasts for months sometimes, averaging down with more of your cash sometimes works to break even, and sometimes does not; spiraling you into even greater losses.
So exiting a trade on time in the trade wave cycle is I feel, the most important thing for limited cash trading, and a good program will focus just as much on giving the trader the alerts and signals to exit as much as to find assess and enter a trade.

(Message edited by sPdFgH on February 11, 2018)

(Message edited by sPdFgH on February 11, 2018)


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dydavo
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Hi spdfgh,

Perhaps we continue this conversation off line? My email is dydavo AT yahoo.com.au

Cheers

David

(Message edited by colin_twiggs on February 14, 2018)


David
Momentum trading for a living.

Disclaimer: Please note that comments made in this column are mainly for the interpretation of charts in technical analysis. It should not be taken as advice.Any share discussion is for general interest and should not be relied on to make an investment decision.It is likely that I may own the shares that we discussed as a trade or as an investment. Shares might be sold without notice. Please consult your stock broker or financial adviser in regard to your personal situation.

The views expressed here contain information derived from public available sources that has not been independently verified.No representation or warranty is made as to the accuracy, completeness or reliability of the information.Any forward looking information in this representation has been prepared on the basis of a number of assumptions which may prove to be incorrect.It should not be relied upon as a recommendation or forecast by the writer.

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colin_twiggs
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Hi Dave,

I amended your email address else you will be inundated with spam. Robots crawl websites looking for email addresses.

I have been following your conversation and would appreciate if you kept me posted.


My views expressed on this forum do not consider your personal circumstances and should not be considered as financial advice. Please conduct your own research.

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spdfgh
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OMH! what a stock! yet it completely slipped through my radars...
12c to 1.20 makes it a nice 10 bagger.
I've had several 52 week high email alerts from my bank's online platform, but never acted on them, which indicates somethings wrong here.

dydavo and Colin or anyone else; did OMH pique your interest as long term traders or cycle trader? What price point would it have become interesting, or what would have been the indicator that signaled OMH as a buy/hold or trade ready?
And more importantly would you consider this an entry now that a new 52 week high is made at 1.215? Sorry not asking for advise here just opinion from a technical perspective, as I won't be buying into OMH now.

I really need to find, hold, trade, ride stocks like this.
For a person who buys and holds no matter what, and they happened onto this stock and was taken by the story to commit 10K for over 12 months they could claim master-ship of the trade. All I can claim is OMH is another one that got away!




(Message edited by sPdFgH on February 14, 2018)


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dydavo
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I was long until a week or so ago. All stocks that can show any sort of buy signal when sitting above 15% on the 21 day TMO pique my interest, ie, I now do not look at anything else. Looks like a buy again as it has resisted the selling, and now hits a new high. Long tomorrow. I try to buy them as TMSmoothed 10 d bounces off 0.
There are only 50 stocks atm that meet my >15% on the TMO 21 d criteria ( with more than $150000 per day volume x price).

Thanks for the alert spdfgh as I start to build a new portfolio after the recent shake down! Currently long AC8, 4DS, ANW.




David
Momentum trading for a living.

Disclaimer: Please note that comments made in this column are mainly for the interpretation of charts in technical analysis. It should not be taken as advice.Any share discussion is for general interest and should not be relied on to make an investment decision.It is likely that I may own the shares that we discussed as a trade or as an investment. Shares might be sold without notice. Please consult your stock broker or financial adviser in regard to your personal situation.

The views expressed here contain information derived from public available sources that has not been independently verified.No representation or warranty is made as to the accuracy, completeness or reliability of the information.Any forward looking information in this representation has been prepared on the basis of a number of assumptions which may prove to be incorrect.It should not be relied upon as a recommendation or forecast by the writer.

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spdfgh
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Interesting dydavo, That also would make a nice scan.
AC8 is another stock that got away from me, I found this at $1.90 but for some reason lacked the enthusiasm to buy into even knowing it could possibly break out above $2.00.

I tend to get stuck in stocks, buying while they make new highs then they pull back and trap me there for weeks, months sometimes.
Getting stuck this way is why I tend to miss quite a few other stocks. And I guess I'm not the only one, as this type of holding leads to selling forming resistance as people recover their losses and exit out.

So I have endeavored to cycle trade the 'waves' and get out whilst still in profit before they pull back, I can then make a decision to buy back in. seems to work, the only danger is I'm out when an Announcement is released, and I'm concentrating on another stock.

This all brings me back to an application that can set-up stocks with conditional symbols as they are triggered by (user defined or not) indicators etc.; 52 week highs, how many times has the stock hit 52 week highs in the last (1) year (2)years... 21 week highs etc.
When listed with symbols this way it saves having to look at individual charts of watch-list or scan results because the parameters and indicators are symbolised already.




(Message edited by sPdFgH on February 15, 2018)


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spdfgh
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As the recent correction was in fact 'mostly attributed to high US wages growth, I was wondering if this would put a constraint on the market for a long period of time?
Software that could meter market conditions as a side panel that could flip out, so that you could select VXI XSO DJI and maybe a number of other indexes so that you have a VectorVest style array, or maybe just a list with symbols re above post?




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colin_twiggs
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OMH is not in my investment universe but breakout above 20 cents with Money Flow > 0, and again at 50 cents, would have appealed.


My views expressed on this forum do not consider your personal circumstances and should not be considered as financial advice. Please conduct your own research.

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colin_twiggs
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OMH


My views expressed on this forum do not consider your personal circumstances and should not be considered as financial advice. Please conduct your own research.

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dydavo
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Hi spdfgh,

Imo best to ignore explanations re the past market behaviours, and the guesses about what comes next. I'm with those who argue that all relevant info is in the charts. There is also research to show that momentum trading works, and it outperforms. So I extrapolate from that evidence to look for the strongest trends. Of course most trends end, and stop loss orders are the best way to deal with downside risk. Selling to take profits is also important!


David
Momentum trading for a living.

Disclaimer: Please note that comments made in this column are mainly for the interpretation of charts in technical analysis. It should not be taken as advice.Any share discussion is for general interest and should not be relied on to make an investment decision.It is likely that I may own the shares that we discussed as a trade or as an investment. Shares might be sold without notice. Please consult your stock broker or financial adviser in regard to your personal situation.

The views expressed here contain information derived from public available sources that has not been independently verified.No representation or warranty is made as to the accuracy, completeness or reliability of the information.Any forward looking information in this representation has been prepared on the basis of a number of assumptions which may prove to be incorrect.It should not be relied upon as a recommendation or forecast by the writer.

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spdfgh
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I like profits, although some find the lower end of the market and a ten bagger insufficient for trading rewards,... I need these.

And that's what trading ultimately comes down to, subjective decision making flavoured with different levels of each person's expertise and experience. I have always thought computers were going to help at reducing emotional objectiveness, but I find I still have to work around this every trade. Clearly i need more computer programming engineering on my side.

Ok dydavo, so you have a scan list of 50 current candidates, that you need to monitor constantly for breakouts, adding new codes and deleting a few as you go using Incredible charts as the scanning method.

Clearly you can't trade them all, and need to select 3 to 5 from the 50, then trade in, and hold for the momentum period, much like I try to do these days with wave cycle trades, I too have about 50 candidates, but find I'm best only concentrating on one or two. I would like to be able to trade 3-6 ongoing but find this extremely difficult to commit to without better software, as jumping around from stock to stock has seen me miss some wonderful opportunities.

Would it not help to have the current I.C. stock scanner automated so that it runs off a live or 15mins delayed market data feed from a nominated time period, to a scan screen sub-panel next to the multi-time frame chart display panels, and updating with codes of your filter criteria, presenting you with 2 to 3 stock codes that are filtered to be 'trade ready' and then flagging the scan result as a trade final as the criteria are met.

Any indicator crossover or signal when generated can be used. Multiply that by a dozen indicators as well as price and volume signals, and you have the perfect trading system that reduces human time spent analyzing a multitude of single charts displays to buying and exiting, like when driving a car; an accelerator and brake / buy and sell. Any one can do it non-subjectively.

Throw in fundamental database information this then adds another dimension to the traders toolkit, all found in one place.


Just another potato.

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spdfgh
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The recent market correction has me stumped, the reasons for correcting now seem engineered and superficial.

I now watch the XVI and XSO with a macd ready for change, although 2 days prior descending macd histogram could easily be missed, come Monday it just fell off the cliff. The forum chatters are saying great buying opportunity does that mean the reason for the dump is negated by enthusiasm?
I remain cynical.
The ASX Market Index only adjusting their market sentiment from Low <15 to high on the following Tuesday and again on Wednesday, and now it's back to Normal so I don't know. I think I would rather have Colins market analysis displayed as meters on dashboards.

I note today their 'Expected Volatility' meter has increased closer to high.
https://www.marketindex.com.au/
I have to link to this site because no application I use has a version of this inbuilt.

(Message edited by sPdFgH on February 15, 2018)


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spdfgh
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Thanks Colin, you managed to make the OMH trade look like a walk in the park, (but I note in hindsight).
It would be great to have the two breakouts isolated from the noise of the wider market to set up a scan that did just that.

Its almost painful for me to realise how distracted and confused I get over what and when to trade, when going through scans and charts, that I somehow seem to miss the obvious again and again.

Please engineer software to help me (and others) out with this.
As I have already stated I am prepared to pay up to $900 a year for the right software.
(note I won't pay this much for ProTrader)

(Message edited by sPdFgH on February 15, 2018)


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dydavo
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Trading for me is a business. I don't mind scanning a short list of 50-100 charts per day, but software which alerts me to trading possibilities in that list does help me now. I will always have to take a look at the chart and see what's happening (new high? volumes? candles? bounce off support or breakout? etc).


David
Momentum trading for a living.

Disclaimer: Please note that comments made in this column are mainly for the interpretation of charts in technical analysis. It should not be taken as advice.Any share discussion is for general interest and should not be relied on to make an investment decision.It is likely that I may own the shares that we discussed as a trade or as an investment. Shares might be sold without notice. Please consult your stock broker or financial adviser in regard to your personal situation.

The views expressed here contain information derived from public available sources that has not been independently verified.No representation or warranty is made as to the accuracy, completeness or reliability of the information.Any forward looking information in this representation has been prepared on the basis of a number of assumptions which may prove to be incorrect.It should not be relied upon as a recommendation or forecast by the writer.

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spdfgh
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Well, I would pay for it $$, and when it comes down to the survival of Incredible Charts that is what counts.


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colin_twiggs
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Spdfgh,

Take a look at shared screen #97355 which may help to identify OMH-type stocks. Can't guarantee they will all be ten-baggers but you may find some gems.


Screen 97355


My views expressed on this forum do not consider your personal circumstances and should not be considered as financial advice. Please conduct your own research.

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spdfgh
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Ok, I'm going to make this my last post, as I'm probably barking up the wrong tree anyway...

Priorities I believe I.C. should implement for the frequent trader, and to attract greater usage uptake of the software:

1. Watch Lists - drag and drop, selectable to be open on screen for ease of management and ease of visual identification.
I, (unfortunately) use 4 chart programs 2 of which watch-list's are very laborious to organise so I don't bother.

2. Market, and (all) Watch List filter scanning - Open indicator settings to all available indicators, Price and Volume, Candle Open High Low Close user inputs etc. you know what I mean.

3. Live scanning (live data feed or delayed) re above filter scanner, to alert users attention in real-time as they happen, also linked to watch-lists.

4. Addition of symbols in scan results, and watch-lists representing above filter scans and or basic indicators signal triggers. This way any code in a watch-list can reflect the key filter criteria at a glance.

5. With the filter scanning results; the option to view (top dozen) results as charts in the one window.

6. Multi-monitor or multiple chart windows for different chart types/time periods. Multiple open watch-list support.

6. Programming interface for custom indicator modification and or creation, (QuoteTracker & Pine being examples), that the broader user community can share and contribute to.


Thanks for reading, hope to see some of the above implemented.

Note to Colin:
You can take this thread offline now if you like.


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colin_twiggs
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Thanks Spdfgh for your interest. I cannot promise that we will implement all your suggestions but it has given us food for thought.

I will leave the thread open for now in case other readers want to contribute.


My views expressed on this forum do not consider your personal circumstances and should not be considered as financial advice. Please conduct your own research.

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rockon
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My own view is that we should tidy up what we have before moving towards the 22nd century.
I/C has one of the best indicator panels IMO, to the point of me finding the closest thing to my holy grail that I'm ever likely to find. The one thing that is frustrating for me is the inability to add horizontal lines on all lower indicators. Call them what you will, OB/OS or Signal lines but a person finding a particular indicator that really suits their style and doesn't traditionally have OB/OS levels but without this provision now has to draw horizontal lines on every chart they pull up Would make it sooooo much easier if the lines were installed from the indicator panel.
IMO, the great indicator panel is not matched by the scanning facility. Personally don't need to scan these days but user defined parameters would be a great addition to any charting program.
I have found my preferred indicator timeframes by fiddling with the parameters. There is no reason to think that others don't do this as well. When a person finds their magic indicators or traditional indicators with "custom" timeframes, the narrow choices on the scanner prevent them from finding exact matching candidates.
We have 6 variations of Moving Averages in the indicator panel but we can scan for only exponential. We have 6 variations of RSI but can scan for only Wilder. MACD scan could be great for some if they discovered something better than 26, 12 & 9.
Anyway, that's my moan for a Sunday morning. Hope all is well with everyone.


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dydavo
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Just an aside on that good contribution by rockon, MACD 14 7 5 works well for me in the stocks that come up in my scan (for the strongest trending stocks). That is because I am now always religiously looking to buy in a support zone. I cannot use that variation in MACD in my IC scan, but I can in another software. Yes, I pay for two software packages!

Horizontal lines seem to work ok in the bottom indicator panels for me.


David
Momentum trading for a living.

Disclaimer: Please note that comments made in this column are mainly for the interpretation of charts in technical analysis. It should not be taken as advice.Any share discussion is for general interest and should not be relied on to make an investment decision.It is likely that I may own the shares that we discussed as a trade or as an investment. Shares might be sold without notice. Please consult your stock broker or financial adviser in regard to your personal situation.

The views expressed here contain information derived from public available sources that has not been independently verified.No representation or warranty is made as to the accuracy, completeness or reliability of the information.Any forward looking information in this representation has been prepared on the basis of a number of assumptions which may prove to be incorrect.It should not be relied upon as a recommendation or forecast by the writer.

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rockon
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Hi dydavo,
Horizontal lines only work on the indicators with the provision to add horizontal lines. If no provision for these then lines must be drawn manually. This only works for one chart with more manual input for the next chart. Some excellent signals at various levels can help an eyeball sort through a scan or watchlist in quick time.
Like I said earlier, I no longer need to scan or use large watchlists but this tweak could save some punters a lot of time. Cheers.


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dydavo
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Aaahh yes rockon, you are quite right about that.







David
Momentum trading for a living.

Disclaimer: Please note that comments made in this column are mainly for the interpretation of charts in technical analysis. It should not be taken as advice.Any share discussion is for general interest and should not be relied on to make an investment decision.It is likely that I may own the shares that we discussed as a trade or as an investment. Shares might be sold without notice. Please consult your stock broker or financial adviser in regard to your personal situation.

The views expressed here contain information derived from public available sources that has not been independently verified.No representation or warranty is made as to the accuracy, completeness or reliability of the information.Any forward looking information in this representation has been prepared on the basis of a number of assumptions which may prove to be incorrect.It should not be relied upon as a recommendation or forecast by the writer.

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colin_twiggs
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Thanks for all the feedback.

To me these are the 2 main priorities for a new scanner:
  1. List of filters must match available indicators
  2. Allow user-selected variables

Please understand that this requires a complete re-build and is not just a minor tweak to existing code. But worth the effort I believe.


My views expressed on this forum do not consider your personal circumstances and should not be considered as financial advice. Please conduct your own research.
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