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Leo,
I'm not sure the function you worked up for the
float is valid as Wood indtended the indicator
to work.
You have paralleled my thinking in setting up a
binary indicator, but it only checks the very last
bar against the total cumulative sum of the volume.
For any issue which has a today's cumulative volume
greater than the float amount, the last day will
always show a +1 value as the code :
"if(cum(v)>(totalvolume-nshares),+1,-1);"
will always be true.
If I've missed something here, please let me know.
See the attached chart. I've been working with
VNTR which has shown both a rounding
bottom pattern and some up movement in
Excel to try to work out a good algorithym. VNTR
(Ventro Software, a B2B) has a 16,000,000 share
Float. (Note that this is EOD mode and my EOD
data provider scales the volume down by 100, so
I entered 160,000 as the Float value.)
Your indicator shows one peak. On the very last
day. This issue is turning over the float on an
average for the past year of between 7 and 10
days. If I understand Woods correctly, then the
idea is to find the start and end of a bottom or
top consolidation area which turnsover one
float volume then moves up or down then project
the float count from there.
VNTR shows this behavior recently. With lows on
8/2 and 8/18 it took 15 trading days between 7/13
and 8/21 for trading to turn the float over once.
Since then, the float has turned over twice in less time:
(1) 8 days from 8/21 to 8/30 which lifted the price
from 11 1/16 to 15 1/2; and
(2) 5 days from 8/31 to 9/7 when price moved from
14 1/4 to 16 1/2.
The price is consolidating above 16 on heavier daily
volume, which if it holds up will trade the float in 4 to
5 days again or about Thurdsay to Friday this week.
Am I missing something here?
I think this would be an easy indicator to program
using Woods technique of starting at the current
bar and working backwards if the function language
of MS had some way of of looping so that you could
work backwrds to find the bottom or top to set a
base from, then work forward to the current day's
bar again.
I'm sure there is a work around, but I haven't figrued
it out yet.
I really want to get this into a MS indicator but do not
know if I can. (Until then, Excel will have to do.)
John
----- Original Message -----
From: <leo.timmermans.lt@xxxxxxxxxxxxxxxx>
To: <metastock@xxxxxxxxxxxxx>
Sent: Tuesday, September 12, 2000 1:10 AM
Subject: WCVFI - Float Analysis
> Hello,
>
> I think the next code comes near the WCVFI.
>
> nshares:=input("# shares : ",1,1000000000,1000000);
> {nshares is the floating amount of shares}
> totalvolume:=lastvalue(cum(v));
> if(cum(v)>(totalvolume-nshares),+1,-1);
>
> Any comments, improvements ....
>
> Again, I'm sure that someone with the MSDK could do the job completely in
2
> minutes.
> Anybody willing to take the challenge ....
>
> Regards,
> Leo
>
>
>
Attachment Converted: "c:\program files\qualcomm\eudora\attach\!!!VNTRfloat.GIF"
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