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I think that it's safe to assume that many of you do filtering based on price range. For instance, many of my systems will only look at stocks between $3 and $10 between 1993 and 2003.
I just created a composite that shows the average price of stocks between those periods. You would be unlikely to get the same values as me, but I found the average price of the stocks in my database to range between $15 and $21 between 1993 and 2003. Not a big range and certainly not a straight line. FWIW, it's at the top of that range right now. The highest since 1993 was in February, 2000. Prior to that, there was an even higher average ($22) in 1989.
My question for you mathematicians (Howard, Mark, Fred and others) is this:
Would it make sense to adjust price range filtering by a formula that does something with the average price of stocks on any given day?
For instance, I could subtract $12 from the average price to give me the bottom end of my desired range. I could subtract $4 from the average price to give me the top end of my desired range. This is probably over simplistic, but does such adjustment make sense?
I will, of course, be testing various means of adjusting my filtering on the fly and I'll report back any findings. However, I'm anxious to hear the thoughts of others.
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