smartguy
47 posts
msg #148591
- Ignore smartguy |
7/19/2019 12:07:56 PM
I posted this thread here on stockfetcher https://www.stockfetcher.com/forums/General-Discussion/Combining-Trend-Following-and-Mean-Reversion-in-a-Scan-Need/148559
I was hoping someone might be able to help me with a couple snippets of code so I can try this, specifically these 2 snippets-
1. Close is less then most recent pivot point high for 3 (maybe 4 or more would work better) OR MORE days. This means it could be down 3 days, 4 days, 5 days etc. as long as its below recent pivot high and the moving averages are still stacked and sloped in an uptrend. This is the part I don't know how to code i.e. 3 or more days below the recent pivot point high while still having the 20ma above the 50MA and 20MA and 50MA above the 200MA
2.I also want to add a column to the scan showing distance of current price from recent pivot point high so that I can sort for largest difference in current price from the recent pivot high while still meeting the Trend Following portion of the scan. The assumption is the deeper the pullback while still in uptrend offers the best candidates to buy.
Thanks in advance for any help or guidance you can provide.
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smartguy
47 posts
msg #148604
- Ignore smartguy |
7/20/2019 3:02:18 PM
Can someone tell me if these 2 snippets are at least possible with Stockfetcher. Maybe give me a few hints how I should go about it. Thanks in advance for any help given.
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Village Elder
231 posts
msg #148605
- Ignore Village Elder
modified |
7/20/2019 4:12:33 PM
How are you defining pivot high? From pivot points or something else?
If from PPs, which one? There are at least two (R1, R2) above the central PP. Need more clarity on what you are asking for before folks can help.
Perhaps this?
1. Close is less then most recent pivot point high for 3 (maybe 4 or more would work better) OR MORE days. This means it could be down 3 days, 4 days, 5 days etc. as long as its below recent pivot high and the moving averages are still stacked and sloped in an uptrend. This is the part I don't know how to code i.e. 3 or more days below the recent pivot point high while still having the 20ma above the 50MA and 20MA and 50MA above the 200MA
Have you any backtesting that indicates this approach provides a tradeable "edge" over just buying SPY?
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smartguy
47 posts
msg #148607
- Ignore smartguy |
7/20/2019 6:30:05 PM
No, I have not back tested this method. It was suggested to me by another trader who I know is successful. I do not know how much this idea factors into his trading. That is why I wanted to put together a scan to see for myself. It does seem to make logical sense and buying pullbacks in a defined uptrend is logical also. Thus, a combination of trend following and mean reversion in one technique. Thank you for the code snippet.
You asked a question also that I didn't define for- a pivot point that is how many days along. Probably needs to be at least a 5 day highest high with a lower high on both sides of that pivot high.
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