cunparis
71 posts
msg #65710
- Ignore cunparis |
8/1/2008 11:00:54 AM
This is very interesting Riggs. I looked at the filter results and the stocks do move.
Can you give me some ideas on entry criteria? I see there are many that move quite a bit but there are also some that move down. What criteria would you use to choose say 4 stocks out of the list to go long?
Thanks for sharing, I learn a lot from these filters.
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dwiggains
447 posts
msg #65711
- Ignore dwiggains |
8/1/2008 11:01:05 AM
Stockfetcher
Do you see what is wrong with this filter. It should show the bottom filter.
You can see it does not.
Thanks for the help
David
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tomb
267 posts
msg #65712
- Ignore tomb |
8/1/2008 11:13:53 AM
A weekly measure only has a single data point per week. A good analogy would be using daily data and specifying "intraday" periods such as "close 1 hour ago". While there certainly was a price 1 hour ago -- it is not a "daily" value.
So, using "days ago" does not have any effect. And, in fact, is converted to "weeks ago". Below is a corrected filter:
Hope that helps,
Tom
StockFetcher.com Support
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dwiggains
447 posts
msg #65714
- Ignore dwiggains |
8/1/2008 11:31:34 AM
Tomb
Thanks
now I understand
See ya
David
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WALLSTREETGENIUS
983 posts
msg #65716
- Ignore WALLSTREETGENIUS
modified |
8/1/2008 1:09:01 PM
This is very interesting Riggs. I looked at the filter results and the stocks do move.
Can you give me some ideas on entry criteria? I see there are many that move quite a bit but there are also some that move down. What criteria would you use to choose say 4 stocks out of the list to go long?
Thanks for sharing, I learn a lot from these filters.
======================================
cunparis -
I'd be glad to. The first thing you need to L@@k at is the slope of the weekly WM(2). You want to choose stocks where it is at a 45 degree angle, NOT the ones that are 80-90 degrees. If you aren't familiar with measurements, then think of a CHECK MARK. Not an "L" shape. That will save you many stalled trades. Watch what happens when you have as semi rising "L-Shape" pattern on a candlestick chart. They almost always blow up, and turn into "Double Bottoms." So stay away from those lazy weekly patterns!
Now, when you have a falling stock like 3-straight days, and a "check mark" weekly appears...start watching for divergence between your daily Will(2) / RSI(2). When Billy rises on a down day, and RSI falls...you're looking at a strong candidate for an entry. Then start looking at the other 7 indicators I gave you. If they are also pointing up...then that's your entry day.
Now, when to enter intraday? Easy! On that day, wait for the same set-up on a 5-day hourly chart (divergence WILL / RSI). Or just wait for divergence between Williams or RSI. One of these two set-ups almost always shows up on the daily pattern. Now in the event that it doesn'r?...then by at the close (last hour). If the first 2 patterns don't show up, then you're usually looking at a 6-session "Bollinger Squeeze!"...and we already know what to do with that right?...
WALLSTREETGENIUS -
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dwiggains
447 posts
msg #65719
- Ignore dwiggains
modified |
8/1/2008 3:37:24 PM
Hi Riggs ------ Weekly Williams %R (2)
Your Weekly filter only gets data on Fridays.
If the market was up this week then the filter goes up and market down then the filter goes down.
Tomb post above showed me what I was doing wrong.
Am I wrong or does this filter only show what "happen" this week.
Notice all market turns are on Fridays.
See ya
David
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elis58
11 posts
msg #65720
- Ignore elis58 |
8/1/2008 3:42:57 PM
wsg
first thanks for your hellping and for your filter. seems it made wanderfull results checking the 3 days shift .i am newbie and don't understand part of what you saying but i am going to learn :)
anyway wanted to ask you this : you are checking the indicator on weekly chart and after they meet your pattern you are going to hourly chart for confirmation ? what are the indicator paremeters on the hourly chart ? are they the same as for the weekly ?
thanks
elis
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WALLSTREETGENIUS
983 posts
msg #65721
- Ignore WALLSTREETGENIUS
modified |
8/1/2008 4:25:48 PM
Am I wrong or does this filter only show what "happen" this week.
Notice all market turns are on Fridays.
_____________________
No, the "turns" usually take place on Mondays. Listen, don't make this anymore complicated then it needs to be. Don't worry about what "tomb" said. Yes, he helped us understand why we don't get the exact turns later in the week. So what has this taught you? It's what you should be doing all along, and that's EXITING your trades before friday anyway. Now, with my heavy trading experience, I'll ENTER trades on fridays because of other set-ups I look for during a certain market condition...but for the most part, market makers become less enchanted, and lazy on fridays, so that is why you wont see any turns later in the week.
Now let's not lose sight of one thing...NEVER ENTER A TRADING ON A DOWN DAY! I've preached this for over 3-years now! If you do...there beter be divergence between Billy & RSI. In closing, I want to REMIND you all, that if there's any question about SF's weekly charts, just refer to your OWN weekly's on your respective platforms. It's just that easy, because you SHOULD be doing that anyway.
- RIGGS -
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WALLSTREETGENIUS
983 posts
msg #65722
- Ignore WALLSTREETGENIUS |
8/1/2008 4:30:25 PM
anyway wanted to ask you this : you are checking the indicator on weekly chart and after they meet your pattern you are going to hourly chart for confirmation ? what are the indicator paremeters on the hourly chart ? are they the same as for the weekly ?
_____________________________
elis58 -
Refer to the 3rd post on this page. I explain everything in great detail.
- RIGGS -
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Jay123
9 posts
msg #65730
- Ignore Jay123 |
8/1/2008 8:47:12 PM
WSG... You say "EVER ENTER A TRADING ON A DOWN DAY! I've preached this for over 3-years now!" Do you mean never enter a trade when the market is down, or never enter a trade when the particular stock is down?
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