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Hi all:
Here's an exploration I ran across that looks interesting. It is
written in a Technifilter formula language. It filters for stocks
breaking out from lows so should be good for both longs and shorts.
I would like to test it out in AmiBroker but my programing skills are
minimal to none. Consequrntly, it would be most appreciated if
someone could develope an appropriate formula from the information
below. Many thanks for your contemplated help
Dick H.
Finding Tradable Stocks
We have a 20 day low, and then 4 days later, a lower low. Today's
close must be greater than the 20-day low to be a buy.
Note: Look back at 20-days only, but this can be increased depending
on your strategy. For lower low look back 4-days, because one wants
to make sure that the lower low has been established.
FORMULAS
[1] Symbol
[2] Name
[3] Close
Close
[4] Close y-l -\yesterdays close
cy1
[5] Low over 20 days (Ly5 24)- \low over the previous 20-days
(&1)N&2
[6] Vol over 20 days (Vy5 24)- \Volume over the previous 20-days
(&1)N&2
[7] # of days from low (Ly5 24)- \Number of days since the first low
(&1)N'&2
[8] Low of 4 days (L,4)-\Low of 4 days ago
(&1)N&2
[9] Vol over 4 days (V,4)-\Volume of 4-days ago
(&1)N&2
[10] # of days over 4(L,4)-\Number of days since the low of 4-days ago
(&1)N'&2
[11 ] High since Low(Hy[10],20)-\Determines the HI reached between
the Low of 20 days
ago and the low of 4-days ago
(&1)M&2
[12] # days High(Hy5,20)- \The number of days since the high
(&1)M'&2
[13] High-Low - \ The high-Low current range
H-L
[14] Volume - \Current Volume
V
[15] VolAve(4)- \Volume average past 4-days
Va&1
[16] Volatility (60)-\The volatility of the share over the past 60
days
((((C/CY1) U9-TA&1)*T) F&1/&1)_.5*16
[17] Rel Performance (60)-\The relative performance of the shares
using the Volatility as the
performance test factor
(100*(c-cy&1)/cycle)*[l6]
[18] Relative Mom (60)-\ The relative momentum of the share with its
current
performance, including volume movement relative to its 30-day average.
((V-Va30)/Va30)+ ((C-Cy&1)/CY&1)
[19] Buy 38.2% -\ Determines the 38.2% Fibonacci level of the range
between the high and the low reached within
the last four
days. Buy if the close is above this figure.
([8] + (([11]-[8])*0.382))
EXPLORATION (filter)
[1] Buy ([8] < [4]) & [3] > [4] -\The low of four days ago must be
lower than yesterday's closing price. This is to make sure that a
retracement has occurred. Today's close must also be greater than
yesterday's low.
[2] Vol > 50000 [14] > 500 -\ Volume traded must be greater than
50,000 shares
in any day.
[3] Buy 38.2% [3] > [26] & [4] < [26]-\ The close is greater than
the 38.2% level of the range between the high within the past 20 days
and the low of
the past four days.
[4] Vol >Vol ave [14]>[15]-\ Volume should be greater than average
volume in a rising price, showing strength.
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