Weak Or Strong Stocks How To Identify Them In Real Time ( Down Loadable Code )

Enclosed find the code to identify the strong or weak stocks intra day ,,

Settings are 10 min and 14 ATR

Radar screen on 1 min

The code tells you how much each stock gains or losses intra day last past 10 min ,

This is how you use the code

Step 1 you sort the CENTS fromn highest to lowest,, Use Auto sort for every 5 seconds then you donot have to keep sorting it manually .

Step 2 you look for a period that INDU 1 min goes through consolidation .( from INDU chart )

Step 3 you then identify which stock gained most when INDU was consolidating .. This is your strong stock ,,

There are two ways of using this code,,
a) Time between 3.30 UK time -7.30 UK time .

a) Oscillatory Trading ……During this time market often oscillates, Hence most of the stocks . you wont expect trending stocks and even if they do trend the trend does not last long enough for you to make $$ hence ,There for you do not go for catching the trend , you go for shorting rallies and buying dips. The rallies can happen in stocks which are in negative or positive in the day ,, ( the code shows them as ABOVE or BELOW ).. Shorting the stock that are in positive for the day is more rewarding but more risky ,, (shorting the stocks that are in negative is less risky but less profitable. ) // I leave this choice to yourself , This technique is Anti Trend and you are continuously scalping the rallies ,, so do not expect major return.. I often take 20 Cents with large positron size as you all have seen in my TRADE LOGS.


b) Trend Trading … You can use the code to identify the strong and weak stocks and instead of SHORTING the rallies you can LONG the strong stocks on a pull back ( TREND TRADING ) . The pull back is defined by 1 MIN MACCI being OS when 10 MIN INDU is OS on 10 min time frame . To use this to catch the trend you need to confirm a few times to make sure the stock is strong in nature rather than getting hit by a spike from a program traders,, IN another word when market turns around all program traders hit the market and as a result all stocks Spike ,, you don’t want to give credit to any stock being strong if they just gained CENTS when program trader hitting the broad spectrum of the stock. The advantage of Trend trading is you can use much lesser position size and let the inherent trend to prevail and pay you in a longer time. Trend trading is far better than oscillatory trending and is more suitable to most new traders.
Using a) needs fast finger with fast , decisive attitude ,, b) is more relaxed as you going for the trend and it could take hours before you eventfully enjoy the trend ride ,,



You can also sort the stocks based on their ATR ..


There are many other ways of using it and i leave this for you to experiment with it


Please donot not pass the code around ,, Thx

Grey1, just realised you’re saying SHORT the stock if it’s below it’s previous day’s close AND has GAINED the most in the last 10 mins (reverse for LONGs).

So you’re looking for a stock that is down on its previous session’s close, but has exhibited strength into the current session (for a SHORT) or a stock which is above its previous session’s close and has exhibited weakness into the current session for a LONG.

What’s the rationale for this?

Are you taking the trend of the INDU prior to consolidation into account in any way?

TheBramble said:

Grey1, just realised you’re saying SHORT the stock if it’s below it’s previous day’s close AND has GAINED the most in the last 10 mins (reverse for LONGs).

So you’re looking for a stock that is down on its previous session’s close, but has exhibited strength into the current session (for a SHORT) or a stock which is above its previous session’s close and has exhibited weakness into the current session for a LONG.

What’s the rationale for this?

Are you taking the trend of the INDU prior to consolidation into account in any way?

Click to expand...

hi

I just changed the text to explain better ,,, does this answer your question >

grey1

Dear Grey 1

Will the code work in esignal (EFS) or is it just for TS ? Haven`t used TS, hence the question.

The code does not download either - windows takes you to its search site if double clicked.

Thanks
CT

It only works in Tradestation as it is a Tradestation formatted file which is why Windows is looking for a program to open it if you don't have TS. If you have Tradestation it automatically installs onto your pc from the download.


Paul

Ts

Thanks a lot T33.
A question for you - can VWAP be coded on esignal, as far as you know ? I`m struggling with the esignal script, trying to code an adaptive MA like kaufman`s. If MPD is simply high-low/2 then it should not be too hard. I wonder if TS would be any easier.

Yrs
CT.

vwap can be coded in eSignal because a few years back others have done it although I don't know the where abouts of those that did it. We already have vwap and other coding for TS.


Paul

Thanks a bunch, Paul.
If you guys are all in TS , I might switch as it might make things easier. TS is just a little bit more expensive at £300/month.

Incidentally, does G1 use ATR as his measure of volatility ? I ask because if testing data for say a few years, ATR includes gaps, while a simple daily range does not. This would obviously lead to false readings. I`m talking about wilie wilders ATR...the one we use.

Thanks a lot.

CT.

TS is just a little bit more expensive at £300/month

Click to expand...

Most of us are using TS2Ki which is a stand alone platform and you should be able to pick up a second hand copy quite cheap. It also works with Windows Vista which was a surprise when I tried it because it is old technology but does the job.

I think that Grey1 uses "Implied Volatility" as his measure and I don't know of anyone else who does the same. For my purposes (and many others here) we have found ATR to be petty much as useful as is needed.


Paul

Trader333 said:

Most of us are using TS2Ki which is a stand alone platform and you should be able to pick up a second hand copy quite cheap. It also works with Windows Vista which was a surprise when I tried it because it is old technology but does the job.

I think that Grey1 uses "Implied Volatility" as his measure and I don't know of anyone else who does the same. For my purposes (and many others here) we have found ATR to be petty much as useful as is needed.


Paul

Click to expand...

Paul

Thanks for answering the questions while i was away from the key board,,

Yes i use Implied volatility but members can use ATR ,, not much difference in a long run ,

Grey1

Grey1 said:

Paul

Thanks for answering the questions while i was away from the key board,,

Yes i use Implied volatility but members can use ATR ,, not much difference in a long run ,

Grey1

Click to expand...

I scalped 8 trades on Friday using the above code ; all wins ,,,,,, a simple strategy like this works good if you have a impulsive and decisive attitude to trading .


Grey1

Trader333 said:

Most of us are using TS2Ki which is a stand alone platform and you should be able to pick up a second hand copy quite cheap.

Paul

Click to expand...

Will do Paul, as soon as have figured out where to pick it up from!

CHeers
Shamik.

Make sure you get a copy with Radarscreen


Paul

are any of the indicators it comes with of any improtance ? Apart from the standard ones like macd/rsi etc.
Sham.

You will need Radarscreen because much of the work done on the indicators by Iraj and others are designed to give alerts in RS as opposed to Charts.


Paul

Grey1

Thank you very much for sharing this information and the actual ELA. I have loaded this into my TS 2Ki and am studying it. Forgive me if I am being a little 'dumb' but I can't work out exactly what the "ATR" columb is doing. Understandably, the ELA is password protected so I can't work it out by analysing the code. Could you please explain what the 'ATR' display is showing?

Many thanks in Advance,

Steve

ATR is average true range and is a measure of market volatility. Position sizing should be adjusted to cater for this so that in any circumstance the risk per trade is always the same.


Paul

This might not be the right thread....but did anyone trade SOHU or BCSI over the last 2 days ?

Asking as followed these 2 last 5 days, seem to have their own behaviour. Does anyone else do this ? Its a version of G1`s top down approach - I identified a core of stocks hitting/near 52 week highs/lows and followed them through the week. Trading them became easier as I followed them throught the week.

CT.

evostik said:

Grey1

Thank you very much for sharing this information and the actual ELA. I have loaded this into my TS 2Ki and am studying it. Forgive me if I am being a little 'dumb' but I can't work out exactly what the "ATR" columb is doing. Understandably, the ELA is password protected so I can't work it out by analysing the code. Could you please explain what the 'ATR' display is showing?

Many thanks in Advance,

Steve

Click to expand...

Steve
Just to add to what Paul said above, the Radar is showing the Change in the Cents and ATR14 over the previous 10 minutes.
So if a stock has become stronger during that time, then its ATR and Cents Change will be Positive. If a stock has become weaker, its ATR Change will be Negative.
By sorting the list on either you can see the strong/weak spectrum at any time.
Glenn

Trader333 said:

ATR is average true range and is a measure of market volatility. Position sizing should be adjusted to cater for this so that in any circumstance the risk per trade is always the same.


Paul

Click to expand...

Thanks Paul. I agree and very often do exactly that to calculate my position size. In fact, probably like you and many others, I have a simple routine running in RS to tell me, in real time, how many shares to buy/sell for each stock on my list. However, for many trades, I will position size based on 'distance' from local support/resistance areas as it it these points that help me determin where to place safties. However, what I was struggling with was what the ATR column in that particular indicator is showing.

Thanks Again,

Steve