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,,

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 ,,


REVERSE FOR LONG

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

Thanks Grey1.

I've been using something in EXCEL for a couple of years now. It doesn't look at the last 10 mins, but from the start of the trading session. It also picks up approaches to previous trading sessions’ H/L and approach to 52wk H/L, among a few other things.

It’s very resource hungry, but then so is RS…

Looking at the trend (if any) on the INDU is vital to establish direction (obviously) and to see which stocks DO NOT consolidate when INDU does. The rationale being any stock which continues to move with or contra INDU when INDU consolidates is not going to stop for anyone or anything.

I only select one or maybe two which are the strongest/weakest rather than trying to construct a basket as you do. Works more than it doesn’t. If anyone’s interested I’ll post a screenshot from yesterday’s trading.

Thanks Grey1, very generous of you!

I would be interested in Tony.

Kind regards

TMM

TheMoneyMachine said:

I would be interested in Tony.

Click to expand...

Hi TMM. Bit off more than I could chew.

Downloaded a trial version of Camtasia to capture the beastie in motion and I got an error on the install.

Downloaded something from bbsoftware and that worked just fine. The only problem is that anyone who wanted to watch it would have to download the bbsoftware player…

Fatigue got the better of me and no screenshot captures all of the data I wanted to share.

I don’t want to upload the live spreadsheet as it is integrated with a number of other workbooks and has my trading account data linked in as well. So, I’ve created a format and value version (no formulas or links) of the sections of interest to upload.

I’ve used a number of scanners and filters and while some work well for some of my strats and methods, they don’t all do what I want all the time. So I built one myself in Excel. It’s totally customisable, can be updated to filter and monitor for bespoke setups as patterns and markets change (and as I get new ideas!) and has a minimum of glitzy overhead to wade through.

Basically, the part of the spreadsheet capture I provide below relates to the points Grey1 was making in his post. I’m looking for stocks that are performing ‘out of whack’ with the indexes (plural). I use INDU and the sector specific indexes too. When a stock is close to its previous day High or Low or near it’s 52 week High or Low – I want to know about it. When a stock is performing strongly against a weak index(es) or vice versa, I’m looking for the opportunity to leverage that divergence.

There’s a bunch of other stuff in there – some of which should be obvious, others perhaps less so, but if you’re interested I can explain the why and what and when.

I use this for both directional plays and pairs.

This in no way compares with the usefulness of Grey1’s code provided and his suggestions on trading this data, but thought I’d better follow up and make good on my offer made this morning.

Hi Tony

Thanks for the reply and apologies for causing you so much grief!

Your custom scanner looks extremely impressive and must of taken a fair bit of elbow grease! I currently use Radar Screen but have had 'build bespoke scanner' on my to-do list for quite some time. As you quite rightly state, off the shelve scanners don't cater for a multitude of combined strategies, and also were is the fun in purchasing a ready made job!

Are you using a DDE to import data directly from your data vendor (which is IB if i remember correctly)? You mention that the scanner is resource intensive, does this cause you any issues?

If you would be willing to explain the why, what & when i would be extremely appreciative as it would be interesting to see how you extrapolate the data in real time. Also what are the last 2 columns indicating ( High -1 Delta, Low -1 Delta)?

Kind regards

TMM

P.S. Coincidently i have just obtained Camtasia myself but have yet to install and test run it.