StockFetcher Forums · Filter Exchange · Help with Trendlines<< 1 2 >>Post Follow-up
swingtime
5 posts
msg #36739
- Ignore swingtime		 7/6/2005 12:30:12 PM

Is there a way to have StockFetcher draw a trendline at support and or resistance levels? Thanks.
TheRumpledOne
6,411 posts
msg #36742
- Ignore TheRumpledOne		 7/6/2005 12:44:49 PM

Fetcher[
DRAW S2
DRAW S1
DRAW PP
DRAW R1
DRAW R2
CLOSE ABOVE 20
VOLUME ABOVE 1000000
]



MAY ALL YOUR FILLS BE COMPLETE.
alf44
2,025 posts
msg #36744
- Ignore alf44		 7/6/2005 2:10:36 PM

I'm thinking Pivot Points and S1, S2, R1, R2 lines aren't quite what he was looking for. Those are best suited for intra-day applications. imo

Prolly the best solution would be to just use a Moving Average (possibly a 10, 20, 30, 40, 50 etc...) as a sort of "Dynamic Trendline". Also, the use of Displaced Moving Averages...above and below price action can be an effective indicator of trend. One other method that I like is to use Keltner Channels to determine possible areas of Support and Resistance. All of these are available at SF. fwiw


alf44 :8^)





swingtime
5 posts
msg #36745
- Ignore swingtime		 7/6/2005 2:14:40 PM

Thanks TheRumpledOne when I run the filter you suggest I am not getting actual Trendlines drawn. I get the results without the Trendline...
TheRumpledOne
6,411 posts
msg #36748
- Ignore TheRumpledOne		 7/6/2005 3:38:50 PM

the trendlines are not flat...

They change daily...

Run the filter.

Click on a 3m chart.

Look at the chart.. you should see the s/r lines/colors in the legend.
swingtime
5 posts
msg #36753
- Ignore swingtime		 7/6/2005 5:28:44 PM

TheRumpledOne if you take a look at the charts near the bottom of the page at www.nebadawn.com you will get an idea of what I am looking for. Can this be acheived with StockFether?
alf44
2,025 posts
msg #36755
- Ignore alf44		 7/6/2005 5:56:06 PM

swingtime,

You said: "Is there a way to have StockFetcher draw a trendline at support and or resistance levels?"

-----------------------------

First, the way in which you posed your original question is incorrect. imo

Not to be a stickler for detail here, but..."Trendlines" are NOT "Support" and "Resistance" Lines ! They are completely different methods of analysis and represent completely different market phenomena.

Trends and their resulting Trendlines represent change (ie. higher lows in an uptrend and lower highs in a downtrend)...on the other hand, Support and Resistance Levels represent barriers to change (ie. price levels where Buying/ Support or, Selling/Resistance is strong enough to reverse a Downtrend/Uptrend). Trendlines are upward (or, downward) sloping...Support and Resistance levels are horizontal. That being the case, it is not possible to draw a "trendline" at a "support or resistance level" ! They're different animals !

So, what exactly is it you are wanting to have StockFetcher draw..."Trendlines"...or, "Support and Resistance Levels" ?

To my knowledge SF can't draw either. However, there may be ways to approximate what you are trying to do...and I mentioned a few ideas in my previous post. I DON'T think Pivot Points and their related S1/S2 & R1/R2 points are what you are looking for.



alf44








swingtime
5 posts
msg #36757
- Ignore swingtime		 7/6/2005 6:41:43 PM

Yes, you are correct. I did not express what I wanted correctly. I did want to know if StockFetcher could draw support lines and resistance lines.
In the Index section there is a catagory for support and resistance but the lines drawn are very short term.
Can longer term support and or resistance lines be scanned for and drawn with StockFetcher?
PS I have been a subscriber to StockFetcher for only a few months and find it of great value. It is simple to use with easy to change settings. Scans are rapid and provide lots of trading ideas.
TheRumpledOne
6,411 posts
msg #36758
- Ignore TheRumpledOne		 7/6/2005 6:44:45 PM

I don't think you can.

However, give the linear regression channel a try.

I put this (a lot more than just the channel) in my global settings:


Draw Linear Regression Channel(60) and Draw EMA(13) and Draw EMA(26) Draw RSI(2) and Draw weekly RSI(2) and draw bollinger band(20) and draw Fast Stochastic(5,3) Fast %K and draw Fast Stochastic(10,10) Slow %D


You can change the 60 to whatever period you prefer.

I added a few Linear Regression Channels to the STOCK DASHBOARD DISPLAY as an example (other upper indicators commented out):

CLICK ON THE MAGNIFYING GLASS ICON TO THE LEFT "FETCHER":


Fetcher[
/* your filter code goes below this line */

Draw Linear Regression Channel(10)
Draw Linear Regression Channel(60)
Draw Linear Regression Channel(200)

volume above 1000000
Williams %R(10) equal Williams %R(10) 200 day low
add column Williams %R(10)

sort column 5 descending

/* STOCK DASHBOARD DISPLAY for newbies and old pros */

set{E36b,days(ema(3) is above ema(6),100)}
set{E36a,days(ema(3) is below ema(6),100)}
set{E3xE6, E36a - E36b}

set{E50200b,days(ma(50) is above ma(200),100)}
set{E50200a,days(ma(50) is below ma(200),100)}
set{M50xM200, E50200a - E50200b}

set{E1326b,days(ema(13) is above ema(26),100)}
set{E1326a,days(ema(13) is below ema(26),100)}
set{E13xE26, E1326a - E1326b}

set{CCb,days(close is above close 1 day ago,100)}
set{CCa,days(close is below close 1 day ago,100)}
set{CxC, CCa - CCb}

set{E5b,days(close is above ema(5),100)}
set{E5a,days(close is below ema(5),100)}
set{CxE5, E5a - E5b}


set{E50b,days(close is above ma(50),100)}
set{E50a,days(close is below ma(50),100)}
set{CxM50, E50a - E50b}

set{E200b,days(close is above ma(200),100)}
set{E200a,days(close is below ma(200),100)}
set{CxM200, E200a - E200b}


set{T10, count(10 day slope of the close above 0,1)}
set{T60, count(60 day slope of the close above 0,1)}
set{T200, count(200 day slope of the close above 0,1)}

Set{a1, T200 * 1}
Set{a2, T60 * 10}
Set{a3, T10 * 100}

Set{aa, a1 + a2}
Set{TREND, aa + a3}

set{v, volume 1 day ago}
set{volinc, volume - v}
set{volpc, volinc / v}
set{volpct, volpc * 100}

set{VolZ, days(volume < 1,100)}
set{VolUp, days(volume is below volume 1 day ago,100)}
set{VolDn, days(volume is above volume 1 day ago,100)}
set{VolCnt, VolUp - VolDn}

set{vck1, volume 1 day ago }
set{vck, volume / vck1 }
set{vdbl, days(vck < 2, 100)}


set{PARBuy, count(close crossed above Parabolic SAR, 5) }
set{DMIBuy, count( di(14) Difference crossed above 0 , 5) }
set{DMIBuyX, count( di(14) Difference above 0 , 1) }

set{PARSell, count(close crossed below Parabolic SAR, 5) }
set{DMISell, count( di(14) Difference crossed below 0, 5) }
set{DMISellX, count( di(14) Difference below 0, 1) }

set{PARSBuy1, PARBuy * DMIBuy}
set{PARSBuy, PARSBuy1 * DMIBuyX}

set{PARSSell1, PARSell * DMISell}
set{PARSSell, PARSSell1 * DMISellX}

set{PARSTrade, PARSBuy + PARSSell}

set{HiOp, high - open}

set{WRb,days(Williams %R(10) is above Williams %R(10) 1 day ago,100)}
set{WRa,days(Williams %R(10) is below Williams %R(10) 1 day ago,100)}
set{WRxWR, WRa - WRb}

and add column VolCnt
and add column Vdbl
and add column volpct

and add column HiOp
and add column Trend

and add column CxC {CxC_}
and add column CxE5 {CxE5}

and add column E3xE6 {E3xE6}
and add column E13xE26 {E13xE26}


and add column CxM50
and add column CxM200
and add column M50xM200

add column rsi(2)
add column weekly rsi(2)

add column PARSBuy
add column PARSSell

add column WRxWR

and draw RSI(2)
and draw Williams %R(10)
and draw +di(14)
and draw -di(14)
and draw adx(14)
and draw di(14) difference

/* upper indicators commented out for this example
and draw ema(5)
and draw Parabolic SAR
*/

]



Suggestion to SF... extend the lines of the channel the full width of the screen... the LRC(10) lines are hard to see, at least on my screen they are!!


MAY ALL YOUR FILLS BE COMPLETE.
alf44
2,025 posts
msg #36766
- Ignore alf44		 7/7/2005 12:18:31 AM

swingtrade,

A word of caution about Linear Regression Channels...

...they look great on a chart and IN HINDSIGHT appear to be uncanny in their ability to represent areas of Support and Resistance in Uptrends and Downtrends. But, in reality they are always changing and self-adjusting to the latest data point. That's what Linear Regression Indicators do ! They will always adjust to the latest NEW Higher Close or New Lower Close, in the period being examined ! Is it any wonder then why in hindsight they always look nearly 100% perfect at identifying turning points ?

Be very careful using them and understand what you are seeing on a chart if you DO decide to use them.

Personally, I would much rather use other methods.

Just my opinion.


alf44 :8^)





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