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I have posted this scan because I believe it may be
a workhorse, or can be modified to become a
workhorse, that will find stocks that are trudging along in a
slow gradual uptrend.
BTW, I urge all of us to title our posts based solely
on improving the accuracy of future archive searches. It
took me a bit of time to decide how to title this post, because it involves more
than just the requirements for a Weinstein uptrend.
I chose the title of Weinstein Uptrend, because IMHO,
I think that the definition of a Weinstein uptrend is the key component that
makes the results of this scan appear, at least to me, to be just what I
have been searching for. A Weinstein uptrend is just a series of higher
highs and higher lows. Very simple.
Several months ago, I made a post requesting code that would do
this. It may have already been posted, and I missed it.
I only ran this scan once, and the results were very good based
on the requirements that I hope that I have successfully
included in this scan.
I am aware that DT has questions about Weinstein because he
wears a ring on his pinkie.
I am overlooking that, because of my extensive
observations of how uptrends end. IMHO, Weinstein's uptrend
definition is as good as any, and most likely, better than any out
there. Like Yuki, I stay in my cave a lot, so I am unaware of any other
definitions of uptrends
I attempted to name the components of this scan so that you
will have little difficulity understanding what each of the terms mean.
I added the letter "a" behind OBV in order to prevent the Amibroker
software from getting all worked up everytime that I
typed OBV.
OBVsequp60to30 is my way of describing the sequencial
arrangement of the Guppy moving averages of OBVa.
The word "up" means that EMA60 (the slowest) is at the bottom of
the sequencial arrangement of the EMA's of OBVa, and that EMA30 (the
fastest) is at the top of the stack of GUPPY EMA's of OBVa.
The buy arrows that appear at the HARD RIGHT EDGE of the chart
require that you must be proficient in visual chart analysis of buy
arrows, and how they fit in with the rest of the chart action to the left of the
new buy arrow.
Notice that I have used the UPTREND sequential stack arrangement
of the guppy EMAa's OBVa. IMHO the deficiency of this scan
is this. While a stock is rolling over the top, this UPTREND
sequential arangement of OBVa usually stays the same during this whole topping
out process.
I am hoping that some in the Amibroker community will test this
scan, and possibly develop some improvements to it so that it will require less
chart analysis skills.
BTW, from what I have observed in reading many thousands of
Yahoo ejmails over the years, I have concluded that I may be a little
unusual, because I am seeking critical reviews of what
I post.
Here is hoping that some of you will backtest this scan,
optimise it, etc, in order to determine if it is worth anything.
I have a lot of difficulty in understanding the majority of the
coding that I see posted here, so a lot of my time is expended studying the
sequential arrangements, and the squeezes that occurr in the indicator windows
of the GUPPY groups of moving averages. The latest one that I
have tried is ATR(n). It is much reactive than the plodding
OBV.
If any of you are interested in the coding modules that I
have of the Guppy moving averages of anything, let me know, and I will
post my GUPPY format so you can play with it. All
that you have to do is insert the AFL that you want to test.
It starts out at the top with ITEM=WHATEVER( ); You just
simply type in whatever it is that you want to test.
My next project will be to see what happens when all of the
GUPPY EMA's come together into a very tight squeeze.
My initial results look very encouraging. As always,
determining the trend is essential.
I hope to hear some comments regarding this post. Later,
Ron D
OBVa=<FONT
color=#0000ff size=1>OBV();
OBVsequp60to30=EMA(
OBVa,30)><FONT
color=#0000ff size=1>EMA( OBVa,<FONT color=#ff00ff
size=1>40) AND <FONT color=#0000ff
size=1>EMA( OBVa,<FONT color=#ff00ff
size=1>40)><FONT color=#0000ff
size=1>EMA( OBVa,<FONT color=#ff00ff
size=1>50) AND <FONT color=#0000ff
size=1>EMA( OBVa,<FONT color=#ff00ff
size=1>50)><FONT color=#0000ff
size=1>EMA( OBVa,<FONT color=#ff00ff
size=1>60) ;
k=StochK(<FONT
color=#ff00ff size=1>14);
d=StochD(<FONT
color=#ff00ff size=1>14);
kdCross=Cross(k,d)
AND StochK<FONT
size=1>(14<FONT
size=1>)<60;
OBVcross=Cross<FONT
size=1>(OBV(),<FONT
color=#0000ff size=1>EMA(<FONT color=#0000ff
size=1>OBV(),3<FONT
size=1>));
exremarray=Cross(k,d)
AND StochK<FONT
size=1>(14<FONT
size=1>)<60;
exremlimit=ExRem<FONT
size=1>(exremarray,exremarray);
higherlow2=ValueWhen<FONT
size=1>(kdCross,C,2<FONT
size=1>);
higherlow3=ValueWhen<FONT
size=1>(kdCross,C,3<FONT
size=1>);
twohigherlows=C>higherlow2 AND higherlow2>higherlow3;
Buy=MA<FONT
size=1>(V,50<FONT
size=1>)>100000
AND OBVcross AND twohigherlows AND exremlimit AND
OBVsequp60to30;
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