tigerdarling
1 posts
msg #157545
- Ignore tigerdarling |
9/10/2021 12:59:03 PM
This indicator needs daily bars and must start
at some time in the past, let's say 1 year ago.
At one year ago, plot equals mid point of high and low.
For each day, if the high is above the plot,
then add (high-plot) /2 to the plot. And if low is below
the plot then subtract (plot-low)/2 from the plot.
The result is a plot which shows the 50% retrace
point for the current price level.
My goal is to screen for stocks with a high distance
from the 50% retrace level.
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Cheese
1,374 posts
msg #157564
- Ignore Cheese |
9/12/2021 1:39:46 PM
https://www.stockfetcher.com/forums/General-Discussion/How-to-create-my-custom-Retrace-Indicator/157545
How to create my custom Retrace Indicator?
tigerdarling 9/10/2021 12:59:03 PM
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Welcome to sF
I am not an expert at retrace trading, but do you need to create your own custom Retrace Indicator
to do all this:
At one year ago, plot equals mid point of high and low.
For each day, if the high is above the plot,
then add (high-plot) /2 to the plot. And if low is below
the plot then subtract (plot-low)/2 from the plot.
in order to get to this:
The result is a plot which shows the 50% retrace
point for the current price level.
My goal is to screen for stocks with a high distance
from the 50% retrace level.
Personally, I just look for a simple way to do things, and then enjoy the better things in life.
Here is a 50+ retrace over 52 weeks filter by Railwhore that might be a good start for your project.
https://www.stockfetcher.com/forums/Public-Filters/50-Retrace/50557/-1/50557
If you've had experience with trading retrace, please share your tips.
I am always for learning some new skills.
Good luck with your custom building.
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Cheese
1,374 posts
msg #157565
- Ignore Cheese |
9/12/2021 1:52:22 PM
https://www.stockfetcher.com/forums/General-Discussion/How-to-create-my-custom-Retrace-Indicator/157545
How to create my custom Retrace Indicator?
tigerdarling 9/10/2021 12:59:03 PM
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Last week, when karennma gave us a tip about re-entering ZM,
I tweaked Railwhore's 50%+ retrace filter like this and use it for short-term decision support.
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snappyfrog
653 posts
msg #157566
- Ignore snappyfrog |
9/12/2021 2:08:54 PM
I don't remember who posted this originally, but the DMA 5% filter picked it a few days ago also. I find this a good filter for pullbacks.
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Cheese
1,374 posts
msg #157569
- Ignore Cheese |
9/12/2021 3:02:14 PM
https://www.stockfetcher.com/forums/General-Discussion/How-to-create-my-custom-Retrace-Indicator/157545
snappyfrog 9/12/2021 2:08:54 PM
I don't remember who posted this originally, but the DMA 5% filter picked it a few days ago also.
I find this a good filter for pullbacks.
/*Go long when DMA IS 5% above price AND when you see a reversal signal at the bottom i.e "Doji", "D-cross","B-Thrusting Line",or exhausted volume spike.
The trend is confirmed(add to position) when the ema(3)crosses above DMA, and start taking profits when ema(13)crosses above DMA.*/
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Wow, thank you, snappyfrog.
I'm a fan of DMA, ema 3, ema 13 for many years but somehow I've missed this gem.
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