[amibroker] Total O/B time

["Dimitris Tsokakis" <TSOKAKIS@xxxxxxxxx>]

The N100 market seems to change slowly the bearish character 
of the last years. Not anything impressive, but we should point this 
out.
An objective criterion is the total time spent in O/B 
phase.
Let us begin from May1, 2000 and calculate the % of O/B bars 
till now:
Paste in IB the
 
// Total Overbought Time, by D. Tsokakis, May 
2003
K=DateNum()>1000501;X=StochD();// 
oscillatorOBcond=x>70;// overbought 
conditionT0=100*Cum(K*OBcond)/Cum(K);
Plot(T0,"FAST O/B TIME",5,1);
 
We may see what is going on from Sept2001 low: The ^NDX O/B 
percentage is higher and higher and it is close to the Dec2001 highest 
[28%]
For some stocks we have seen recent new highs. 16 stocks have 
had the last 10 bars the highest T0 of the last 500 bars [since 
May2001]
Explore for the last n=1 quotations with
 
K=DateNum()>1000501;X=StochD();// 
oscillatorOBcond=x>70;// overbought 
conditionT0=100*Cum(K*OBcond)/Cum(K);Filter=HHV(T0,10)==HHV(T0,500);AddColumn(T0,"T0");
 
The champions of this exploration [CHRW, APOL, PCAR, BBBY, 
EBAY, AMZN etc] will not fit well to 
successful bearish trading systems and should be handled with 
care.
For example, AMZN, APOL, TEVA, CHRW and PCAR are 
among the losers of the [successful] D-ratio trading system
 
<FONT 
size=2>H=Foreign("CSCO","H");L=Foreign("CSCO","L");R=1000*(H-L)/(H+L);Z=20;D1=34;D2=37;RRR=DEMA(R,Z);F1=RRR>=D2;F2=RRR<=D1;Sell=F2;Buy=F1;Buy=ExRem(Buy,Sell);Sell=ExRem(Sell,Buy);Short=Sell;Cover=Buy;Short=ExRem(Short,Cover);Cover=ExRem(Cover,Short);
 
The above Filter, sometimes, gives a profit taking 
period.
Watch your favorite stocks in IB with
 
<FONT 
size=2>K=DateNum()>1000501;X=StochD();OBcond=x>70;T0=100*Cum(K*OBcond)/Cum(K);Filter=HHV(T0,10)==HHV(T0,500);Plot(C,"",4*Filter+1,64);
and see the position of the painted candles [if 
any]
The indicator [StochD()] or the o/b criteria in the ToT code 
may be replaced with others, closer to your o/b idea.
Similar graphs may be also plotted for the Total OverSold 
time. It is obvious [and confirmed] that the champions of o/s
time will not perform well with bullish trading 
systems.
Dimitris Tsokakis
 






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