dashover
226 posts
msg #156895
- Ignore dashover |
6/1/2021 10:10:39 AM
This guy has some solid systems in place,and I kinda like his green line breakout ..
https://wishingwealthblog.com/2021/05/blog-post-glb-green-line-break-out-explained-some-stocks-having-a-glb-last-week-mec-omp-tgls-flng-cubi/?utm_source=feedburner&utm_medium=email&utm_campaign=Feed%3A+typepad%2Fwishingwealth+%28Wishing+Wealth+Blog%29
I think something like > 95% of 52 week high 90 days ago
lower than that level for the last 60-90 days
broke above that level in the last 2 days
Can a Coder pro help
Dash
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nibor100
1,031 posts
msg #156975
- Ignore nibor100 |
6/12/2021 2:13:08 AM
@dashover,
I took the liberty of trying to match his glossary definition of GLB:
"Green Line Breakout (GLB)
I draw a green line on a monthly stock chart at a bar at an all-time high that has not been penetrated (or closed above) for three straight months (or 3 bars). It basically is a strong stock breaking out to an all-time high (ATH) after at least a 3-month consolidation. Green line breakout stocks, in my experience, often go on to make a series of new highs as they rocket toward the moon."
Using parts of Xarlor's SF 15 year All time High filter (I could only go back 9yrs before my filter would stop working) the filter below will signal on the day a new 9yr All time high occurs simultaneous with the last 3 months of price performance below the prior 9yr ATH. It also draws a GLB green line on the price chart.
I have limited the filter to looking for those GLB stocks that he has posted about at times during the past 10 days(for easy testing purposes), leading up to his You Tube presentation tomorrow afternoon.
You can test scan back to Jun 7 for LLY, May 21 for OMP & FLNG, and May 25 for CUBI, etc.
If you decide to run this filter on a large group of stocks you might want to limit the scanning universe to around a 1,000 stocks or so because it will take quite a while to run...
PS. I've left a bit of clutter in the filter for testing purposes.
Ed S.
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roca1018
163 posts
msg #156976
- Ignore roca1018 |
6/12/2021 4:45:05 AM
Ed,
Thanks for your post. Can you alter the filter so that it can meet the criteria for a basic subscription?
Thanks
Rich
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miketranz
961 posts
msg #156977
- Ignore miketranz |
6/12/2021 11:54:14 AM
How about a simpler filter? I have a few comments on this one.Miketranz...
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nibor100
1,031 posts
msg #156978
- Ignore nibor100 |
6/12/2021 12:00:06 PM
Here is a basic subscription version that only looks back for a 3 year All time high.
I put a date offset of 14 to get you a couple of results from the Wishing GLB symlist.
Since this filter isn't looking back beyond 3 years it runs very fast no matter how large your chosen stock universe is.
Ed S.
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nibor100
1,031 posts
msg #156981
- Ignore nibor100 |
6/13/2021 12:34:23 PM
Dr. Wish designed his GLB stock selection approach based on Darvas focus on stocks and their All Time Highs,
Therefore SF can't apply the proper criteria to all stocks in the SF universe due to filter complexity issues.
For example, SF has a universe of 1,181 stocks greater than $100, and of these there are 129 whose All Time High occurred further in the past than the most recent 3 yr high. and about 30 had their all time high beyond 9 years ago...so simplifying the filter has its negative consequences.
Ed S
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compound_gains
222 posts
msg #156982
- Ignore compound_gains |
6/13/2021 1:25:39 PM
Some time ago I back tested using a 3-year high (because that was the max lookback) with a break of a 3-month consolidation. Would have been stopped out far too many times too early using Dr. Wish's stop of a close below the 3-year high at the time of the break out. Just my experience doodling with it.
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miketranz
961 posts
msg #156985
- Ignore miketranz |
6/13/2021 8:48:49 PM
Here's my take,it looks like a basic Darvas breakout filter to new yearly highs.The only variant I see is the 3 month pull back.I do like the fact that the entry "GLB" is also the stop.There's a plan of execution in place and also an exit.However,expect to be stopped out numerous times before you catch a winner.The big question is,does one have the patience,persistence,and capitol to withstand the losses.Overall,I like it in theory...
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nibor100
1,031 posts
msg #156991
- Ignore nibor100 |
6/14/2021 3:28:05 AM
All I'v done is provide some filters for finding "Possible" Dr. Wish GLB stocks on SF,
I did not write a filter to apply his Stop criteria.
Nor did I write a filter to apply all of his other Buy criteria of which there are many....for example he only buys GLB stocks that are in his universe of stocks which is limited by presence on IBD 50 and MarketSmith lists over a running period of time.
You can find all of his other Buy criteria in his talk on you tube from this weekend.
Or the simple way is to just get his daily blog posts and when he mentions a new GLB then you'll know its on his watchlist of stocks that are candidates for purchase.
PS. the presenter after him has some interesting info about trading IPO stocks.
Ed S.
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