Help with exploration

trader2001 · #1 2nd October 2008, 07:54 PM

Can some one help me with the following formulas

1. explore stocks closing the day in the bottom 5% of the days range.
2. stocks making new 52 week highs for the first time. some stocks make highs and then keep making highs everyday. I need stocks that just made the high for the first time.
3. Stocks making new 52 week lows for the first time

I need three seperate formulas for the above. I would appreciate any help as I have no clue how to write any type of code.

Adheer · #2 4th October 2008, 10:17 AM

Here is the exploration for identifying stocks that closed X% below the Day's Range.
Change the parameter to a suitable value (e.g. 20 instead of 5 ).

As for #2 and #3, it seems illogical to identify stocks that made a new high or low first time.

When a stock is listed, it makes a new high and a new low on its first day. After that, it tends to make newer highs (and lows) as time passes by.

So, back to your requests for #2 and #3, can you come up with a better criteria to define exactly what you want ?

trader2001 · #3 5th October 2008, 08:57 PM

Hey Adheer thanks for taking time and replying. That is a very useful formula and ill tinker it to my needs. As far as #2 and #3, I guess you are right. I thought about it and couldnt figure out clearly exactly what I wanted. Its hard to express, but ill try one more time. I guess I wanted stocks making 52 week highs and lows, but didnt want stocks which would trade around that price range for many days or months and keep making 52 week highs or lows repeatedly. I had in mind screening for stocks breaking out to new highs for the first time. I dont know if that clarifies what I was thinking.

Adheer · #4 5th October 2008, 09:31 PM

Let us consider a simple example :
A stock XYZ made a new high of 150 on Jan 15, 2008. Then it started falling and is currently languishing around 120.
It is now 10 months since it made that high.

Perhaps, you want to identify this stock in the exploration when it crosses 150 (previous high) again. (And vice-versa for new lows).

If this is what you are looking for, then it accomplished. So, we will have a filter criteria,

"Find me stocks that just crossed their previously made new all-time-highs and then they were languishing below that high for X days"
The parameter X can by typically 125 days (6 months) -
So, we find only those stocks that have made a new high by surpassing their old highs that was made 125 days ago (or more).

Makes sense ?

trader2001 · #5 5th October 2008, 10:58 PM

adheer once again thanks for taking time to help me out. Ill give you and example of what iam looking for

Lets say Ibm has been trading from 75-120 for the past 52 weeks. lets say ibm hasnt made high of 120 for atleast 30 days, but today it crossed 120 and ended at 121. I want to screen for it. tell me if this makes sense or ill try again

Adheer · #6 5th October 2008, 11:23 PM

Quote:

Originally Posted by trader2001

adheer once again thanks for taking time to help me out. Ill give you and example of what iam looking for

Lets say Ibm has been trading from 75-120 for the past 52 weeks. lets say ibm hasnt made high of 120 for atleast 30 days, but today it crossed 120 and ended at 121. I want to screen for it. tell me if this makes sense or ill try again

Yes - exactly what I mentioned in my previous post. The parameter X in this case is 30 days.

Say, today is 5th Oct, 2008.

In the IBM example, we find the 52-week high and low between 5th Sept 2007 and 5th Sept 2008 ( 30 days before day). Let us say this value is $120 (your example).

Now, it the stock crosses $120 for the first-time since 5th Sept 2008 and closes at say 123, then the exploration will detect it.
Now, on Tuesday, if the stock closes at 124 (a new high again), it will NOT be detected in the exploration.

This is fairly simple to achieve, I will send it out tomorrow.

trader2001 · #7 5th October 2008, 11:39 PM

yes thats exactly what I was trying to explain. thanks

Adheer · #8 6th October 2008, 08:19 PM

Here are the explorations.

I do not have enough upload space so I could not post sample screens and charts.

Basically, there are 3 parameters :

1) High/Low Range Period :
The High/Low range of the specified period which should be broken. E.g. 250 is used as default for 52-week highs and lows.

2) High/Low Range Breakout Cut-off period :
The number of bars since the 52-week high/low has not changed. This filters out stocks making newer highs and newer lows. Typically 30 is used as default.

3) Must Close above High / Low : Whether today's closing price must close above the 52-week High or close below 52-week low.
E.g. price may go above the 52-week High intraday, and then close below it. So, we can filter either way.

trader2001 · #9 7th October 2008, 03:12 AM

Wow thank you for sharing this. Iam gonna test this out later today.

Now only thing I need to figure out is how to keep track of my trades and figure out how to measure my trading performance. Can some one give me some Ideas.

The Following User Says Thank You to Adheer For This Useful Post:
trader2001 (5th October 2008)

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