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Volume Spikes

Chart Forum » Stock Screens » Requests & Suggestions » Volume Spikes

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Username: colin_twiggs

Post Number: 856
Registered: 06-2009

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Monday, November 15, 2010 - 08:28 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)

Dear Colin, The only indicator that I use is Volume. For the Stock Scanner, I would like to be able to scan in the following manner. If today's volume is up 200% from yesterday's volume, add the stock to the scan list. (Using a Moving Average of volume creates to much "lag" IMHO.) The ability to filter out stocks where today's volume is less than 1,000,000 shares traded. Discard these stocks from the scan output. Thank you for considering my Suggestion.

Thank you for the suggestions.

1. Volume Spikes. I would argue that we need to offer a short-term MA (e.g. 5-day) of volume as an alternative to the 50-day. If you use a single day as a reference point, the filter would be triggered if yesterday's volume is unusually low as well as if today's volume is unusually high.
2. Use Volume >> Filter >> Close not less than 1000000 shares

Hi Colin, A 5 day MA for Volume is certainly better than the 50, but I personally don't use a Moving Average on anything. I could offer hundreds of examples clearly showing the advantage of raw daily volume when compared to a "smoothing" generated by a moving average, particularly when trading high volatilty, low cap stocks. Take a look at stock CDU. Compare raw volume on Oct 29, 2010 to Oct 28, 2010. Yes, I would agree that some stocks picked up by the scan would be worthless and quickly discarded by a "review" of the scan results. The "Filter" helps to discard thinly traded stocks. Yes my request is based on my personal needs and how I personally trade. I don't wish to trample yours or anyone else's trading style. My request remains as stated. Incredible Charts has come a long way in recent times. Please keep up your good work, as the Auzzie Market could certainly use a new player in the Software and Data arena. My warm regards Greg

Your Quote: "If you use a single day as a reference point, the filter would be triggered if yesterday's volume is unusually low as well as if today's volume is unusually high". Unquote Colin. The above is EXACTLY what I look for. A change from low volume to an increase in volume can indicate "demand". I want to know when this occurs ASAP. Again if you look at stock CDU as an example.......note how volume has jumped each time this stock hit "support" at or around $1.95 between Aug and late Oct 2010. I call this an Accumulation Phase.......see points 1 to 4 on the attached chart. After all "supply" has been "absorbed" during this period, note how this stock "breaks" at points 5 to 7. I would not want to dull down any of this action by applying a moving average to CDU's volume. A MA is just not needed (IMHO) to catch the major break on Oct 29. I hope this helps with my request to want to screen stocks using "raw" volume. Again (IMHO) raw volume is the ONLY indicator that does NOT lag. Applying a moving average to volume would be a bit like a yacht sailing around with the sea anchor out all the time. I look forward to hearing from you. Regards Greg

Greg, We will consider your request, but please note that comparing Volume against the 5-day MA still highlights the buying surge on October 7th and 29th. Regards, Colin

Thanks Colin for your consideration (of my request)and your CDU example. The 5 period MA on volume is certainly more effective than the 50, but in my opinion neither MA are needed for the stock scanner, particularly when scanning say, high volatility stocks in the Materials Sector. Using raw volume in the manner I have suggested MAY actually use less resources (hardware and code) and produce a faster result, when conducting a scan??? Not being a computer Guru I am only guessing here. I look forward to one day being able to see live data flowing through Incredible Charts. Cheers Greg

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