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

[belflan]

Hi,
I am a bit confused about the weak/strong lists of stocks used. My understanding is that Iraj trades a special list using fundamental data and then applies technicals. But then I have seen lists of strong weak stocks that are based solely upon the MACCI on the 10 min $INDU chart
However what about the other guys such as vegas and fibbo who have been on the mentoring with Iraj? Are they just using the MACCI and $INDU 10 min or using fundamentals as well?
Would appreciate any info from people using the strong/weak MACCI strategy.
Regards,
Imran

hi Imran,

i believe the list of stocks featured on this thread are suitable for intraday scalping

and the code on this thread should be used to identify which are strong/weak on a certain day, for day trading ( based on Greys 1st post on this thread)

Grey's fundamentally weak lists are listed of my swing thread, these i believe, should be used to swing trade, with cycles, based on MACCI daily's for O/S O/B conditions (and 10min MACCI charts used to pin point entries on day of chosen entry)

hope this helps
glen

 

[iq200]

hi Imran,

i believe the list of stocks featured on this thread are suitable for intraday scalping

and the code on this thread should be used to identify which are strong/weak on a certain day, for day trading ( based on Greys 1st post on this thread)

Grey's fundamentally weak lists are listed of my swing thread, these i believe, should be used to swing trade, with cycles, based on MACCI daily's for O/S O/B conditions (and 10min MACCI charts used to pin point entries on day of chosen entry)

hope this helps
glen

Glen, Thanks, that is very helpful and clears up my confusion!
Can I ask some questions? How are you doing with the intraday MACCI
strategy to date? Are you having much luck with it? It seems to make sense
to me but I am interested in seeing feedback from people who are using it
other than those who have been on the mentoring.
Best regards,
Imran

 

[belflan]

Glen, Thanks, that is very helpful and clears up my confusion!
Can I ask some questions? How are you doing with the intraday MACCI
strategy to date? Are you having much luck with it?

to early to say yet, and i'll be constrating to swings over the next 6 months so until a get to grips with cycles. i work full time so can only look at intradays until 7:00pm uk time on.

It seems to make senseto me but I am interested in seeing feedback from people who are using it other than those who have been on the mentoring.
Best regards,
Imran

i've asked G1 to put me on his list for mentoring, but to be honest, by the time i get my chance i want to be a competent trader of us stocks

i'm looking to be successful with us stocks be the end of 2008. i've dabbled in Forex for a while, but please don't think i'm a seasoned trader yet
regards
glen

 

[iq200]

to early to say yet, and i'll be constrating to swings over the next 6 months so until a get to grips with cycles. i work full time so can only look at intradays until 7:00pm uk time on.




i've asked G1 to put me on his list for mentoring, but to be honest, by the time i get my chance i want to be a competent trader of us stocks

i'm looking to be successful with us stocks be the end of 2008. i've dabbled in Forex for a while, but please don't think i'm a seasoned trader yet
regards
glen

Glen, Thanks for the reply. I understand your predicament as I also have similar constraints with regards to the day-job.
I hope things work out for you.
Best regards,
Imran

 

[belflan]

Glen, Thanks for the reply. I understand your predicament as I also have similar constraints with regards to the day-job.
I hope things work out for you.
Best regards,
Imran

don't forget G1 says he makes 90% of his $$$$ from swings so don't let the day job get in the way tooo much//

cheers
glen

 

[rjh2000]

Hi, I'm new to the forum and was looking to try out the code attached in the first post but can't seem to download it. Does anyone have a copy they could post. Thanks, Ronan

 

[Trader333]

The code downloads fine for me as I have just tried it. The download is an indicator for use in Tradestation so if you don't have it then it wont work.


Paul

 

[rjh2000]

The code downloads fine for me as I have just tried it. The download is an indicator for use in Tradestation so if you don't have it then it wont work.


Paul

Thats Paul. I've been looking for a copy of T2ki but no luck yet. Once I get a copy I'll try the download again.

 

[pedro01]

OK - now I think I understand the N minute change.

Sorting by cents changed over the last 10 mins is interesting. Could we not also apply some calculation based on the actual price too ?

For instance - a change of 10c on a $20 stock is a lot stronger than a change of 10c on a $100 stock.

Would cents change as a percentage of stock price make more sense ? We could do both cents change as a percentage of total price for the $INDU and the stock and then sort by this new column put $INDU in the radar screen & sort by this new column & you'd be able to see $INDU in relation to the others.

 

[Trader333]

You need to look at change in ATR not cents and it is not over 10 mins it is over 10 bars.


Paul

 

[Charlton]

You need to look at change in ATR not cents and it is not over 10 mins it is over 10 bars.


Paul

Looks like there is a need for your mini-webinar on N minute change or alternatively a few screen-shots for newer members of the forum

Charlton

 

[ely37]

Looks like there is a need for your mini-webinar on N minute change or alternatively a few screen-shots for newer members of the forum

Charlton

I PM'ed Paul last night the link to the NMin video. I can think of two reasons why I haven't gotten a response.

1. He hasn't gotten a chance to look at it.
2. It was too lame to even consider.

 

[Charlton]

Ely's video on Iraj N Minute change

I PM'ed Paul last night the link to the NMin video. I can think of two reasons why I haven't gotten a response.

1. He hasn't gotten a chance to look at it.
2. It was too lame to even consider.

Ely

We have discussed your video by PM and thanks first of all for the time and effort you are putting into this to provide others with some useful learning material.

Here are the screen shots I mentioed which I cannot attach to a PM

I have added $INDU into the radar screen. You are right that the stronger stocks have the highest value in the ATR column and the weaker ones have the lowest value, but strictly speaking these should also be compared to the market $INDU to see which ones fall above and below.

I have also highlighted the interval column for $INDU in red, using format > Interval for $INDU (only) and choosing red, so it is easier to see the $INDU row.

Also following on from a recent post by another member, I have now placed the MISC function into a separate radarscreen with just one row to save on processing.

Charlton

 

[pedro01]

You need to look at change in ATR not cents and it is not over 10 mins it is over 10 bars.


Paul

Thanks for the reply Paul

I was using minutes as the start of this thread does mention specifically using 1 min bars. Saying that I did see other posts mention modifying the data compression. It does also mention that you can sort by CENTS as opposed to ATRs.

As for the ATRs column, is this just the ATR over the last 14 bars ?

If so, wouldn't the same argument apply ? Couldn't ATR relative to price be used to return a value tha can be directly compared against $INDU ATR relative to price ? Then you'd be able to sort by volatility relative to volatility of the underlying market.

 

[Charlton]

Thanks for the reply Paul

I was using minutes as the start of this thread does mention specifically using 1 min bars. Saying that I did see other posts mention modifying the data compression. It does also mention that you can sort by CENTS as opposed to ATRs.

As for the ATRs column, is this just the ATR over the last 14 bars ?

If so, wouldn't the same argument apply ? Couldn't ATR relative to price be used to return a value tha can be directly compared against $INDU ATR relative to price ? Then you'd be able to sort by volatility relative to volatility of the underlying market.

Pedro

The column called "ATR" is not a simple pure ATR. There are further aspects to the calculation of that column, as Iraj has remarked on before.


In fact by adding $INDU into your radar screeen and sorting by this ATR column does what you require. It shows the volatilty of each stock relative to INDU. If you look at the attachments to my previous message you can see that I have included INDU in the radar screen, so the stocks stronger than market are above the INDU row with the strongest at the top. The stocks below the INDU row are weaker with the weakest at the bottom. Unfortunately the screen print was taken at the end of the day and I had also not changed the data compression, because I finished before the session close, so the results are not representative.

With regard to your other questions - the ATR column is based on 14 bars. As that session progresses, every 14 minutes the data compression should be changed. There is function called MISC that calculates what the data compression should be (see my second attachment). Thus by the end of the session the data compression will be 27.85 i.e. 6.5 hours times 60 minutes divided by ATR length 14.

Iraj has mentioned in one of the first seminars that you could sort the list by the cents column. However in all other discussions on the use of this tool in identifying strong and weak stocks we have used the "ATR" column, because that takes into account relative volatility, as opposed to merely price movement. Sorting by the cents column will produce a completely different order (as you will be able to see in my attachment)

Charlton

 

[Trader333]

Eric,

I have just been very busy and still am to a degree but I will reply as soon as I get chance.


Paul

 

[pedro01]

Thanks Charlton !

Seems that I misunderstood what the ATR column was. Now it all makes sense.

Interestingly, I have a radar screen of fundamentally weak stocks & a list of fundamentally strong stocks. When I add $INDU and sort by ATR, the $INDU is towards the bottom of my strong stock list & towards the top of my weak stocks list.

BTW - I used Finviz to get my weak/strong list - mostly based on approximity to 52 week low/high plus earnings growth estimates.

Very smart, indeed. :smart:

 

[Charlton]

Thanks Charlton !

Seems that I misunderstood what the ATR column was. Now it all makes sense.

Interestingly, I have a radar screen of fundamentally weak stocks & a list of fundamentally strong stocks. When I add $INDU and sort by ATR, the $INDU is towards the bottom of my strong stock list & towards the top of my weak stocks list.

BTW - I used Finviz to get my weak/strong list - mostly based on approximity to 52 week low/high plus earnings growth estimates.

Very smart, indeed. :smart:

Pedro

It's interesting that your radar screen sort confirmed what you had discovered using FINVIZ.


On 13th June Iraj gave a seminar in which he discussed choosing candidates for weak and strong stocks using Finviz.

Attached are screen prints showing the settings he suggested for this purpose

Charlton

 

[lote_tree]

Pedro

It's interesting that your radar screen sort confirmed what you had discovered using FINVIZ.


On 13th June Iraj gave a seminar in which he discussed choosing candidates for weak and strong stocks using Finviz.

Attached are screen prints showing the settings he suggested for this purpose

Charlton

This is exactly what I've been looking for. Charlton you're the man!

:clap:

P.S. Is this for the swing or day trading list?

 

[simcom]

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

I'm new to this forum and Tradestation (as of yesterday) so apologies for the basic nature of this question and if it has already been covered elsewhere (can't find anything).

I've downloaded the code and imported the indicator successfully into TS. I have set up my Quotes page with $INDU stocks. My problem comes when I attempt to add Iraj's indicator. I assume that I need to use the 'Insert Analysis Technique' option, however the indicator isn't in this list?

Probably a very simple resolution but I have spent ages fiddling around with no success!

Thanks in advance.