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Filter Exchange · This might be impossible
JoeyVinyl
msg #152376
5/30/2020 1:38:38 PM

@kossvet

Thank you. I have been doing some version of long term investing for about 15 years but it's only been a couple of years since I decided to learn more about it. Currently I do both swing trading and day trading. You are right about needing to be disciplined to do day trading. I don't have much to start with so I have to be careful about the PDT rule and keeping my trades quite small with hard stops. I'm up a whopping $3 since starting out a month ago and I'm okay with that. It's not a way to get rich quick.

I've learned that price action and sometimes patterns on a chart are the best for day trading, but I do use filters here to help me find candidates for swing trading. Xarlor is definitely one of the best filter writers here these days. I'll have to take another look at that filter.

Filter Exchange · This might be impossible
JoeyVinyl
msg #152364
5/29/2020 12:10:53 PM

@kossvet

There's a lot that I still don't know about trading and investing, so please forgive me if this is a stupid question, but when you said, "The stock generally will back and fill for the next week or two." what did you mean by 'back and fill'? Everything else in that statement made sense to me but this one leaves me scratching my head.

"Xarlor's original filter leads you to the water, but most are afraid to drink(including myself), because the stock has risen dramatically already."
This comment is so true. I'm always afraid to jump in on a stock that has shot up in one day. I know some will continue to rise the next day but I've seen too many that drop back down. Maybe not to where they were before they shot up, granted, but jumping in on a high then losing money is not my idea of a good time. If I had the patience to follow them for a few days and see what they do they might turn out to be good deals, but I don't.

Filter Exchange · 3 MA System
JoeyVinyl
msg #152363
5/29/2020 11:57:22 AM

One thing I would suggest when using a filter that gives buy and sell signals is to look at a year long chart to see when the signals happened and what the prices were. Look at how far apart they are. See what the price difference is between the buy and the sell signals. Would you have made money or lost money? If the previous signals show that I would have made money then I'm more likely to trust them when they show up again.

Filter Exchange · 3 MA System
JoeyVinyl
msg #152362
5/29/2020 11:47:56 AM

@Cheese

You're welcome! I know the "classic" MAs are 50, 100, and 200, but I always like to know why people pick different ones. For this system using week, month, and quarter makes a lot of sense to me. I just wanted to share why he's using those since I didn't know at first.

Filter Exchange · 3 MA System
JoeyVinyl
msg #152357
modified
5/29/2020 12:54:15 AM

I was searching for something else when I found this online. I need to spend more time checking out his web site but I liked the page I landed on. It's a very simple MA crossover strategy with clear entry and exit points - mostly. As he says toward the bottom of the page, under the chart, "Whipsaws are not entirely eliminated." (A whipsaw being one trigger MA crossing over or under another trigger MA almost daily.) I only saw that in a couple of charts these filters brought up but it's easy enough to avoid by just looking at the price action on the chart.

I've included a link to the site where I found this and the relevant signals as a comment in the filters. I try to do that with any filter that I don't create myself. It helps to be able to go back and see the original if I mess it up, and I like to give credit to the original creators, even if I've modified their work.

First one is for going long.
Fetcher[
/* https://www.incrediblecharts.com/indicators/moving_averages_three.php */
/* Go long when:
middle moving average crosses to above slow moving average from below; AND
fast moving average is above middle moving average.
Close long when fast moving average crosses to below middle moving average from above.

Go short when:
middle moving average crosses to below slow moving average from above; AND
fast moving average is below middle moving average.
Close short when fast moving average crosses to above middle moving average from below. */

set {buy1, count(MA(15) crossed above MA(45),1)}
set {buy2, count(MA(5) is above MA(15),1)}
set {buy, buy1 * buy2}
set {sell, count(MA(5) crossed below MA(15),1)}

Show stocks where close is between 1 and 50
Average Volume(30) is > 500000

draw MA(5)
draw MA(15)
draw MA(45)
draw buy
draw sell

add column buy
add column sell
add column separator
add column industry
add column sector
sort column 5 descending
]



Second one is for shorting.
Fetcher[
/* https://www.incrediblecharts.com/indicators/moving_averages_three.php */
/* Go long when:
middle moving average crosses to above slow moving average from below; AND
fast moving average is above middle moving average.
Close long when fast moving average crosses to below middle moving average from above.

Go short when:
middle moving average crosses to below slow moving average from above; AND
fast moving average is below middle moving average.
Close short when fast moving average crosses to above middle moving average from below. */

set {short1, count(MA(15) crossed below MA(45),1)}
set {short2, count(MA(5) is below MA(15),1)}
set {short, short1 * short2}
set {cover, count(MA(5) crossed above MA(15),1)}

Show stocks where close is between 1 and 50
Average Volume(30) is > 500000

draw MA(5)
draw MA(15)
draw MA(45)
draw short
draw cover

add column short
add column cover
add column separator
add column industry
add column sector
sort column 5 descending
]



You could use any three MA's that you want. His example uses 5, 21, and 63. I chose 5, 15, and 45 because I think you need a short enough one for the fast one and the other two are three times the previous one to give some spread. I'm going to play around with other lengths and I'd suggest that you do too if you want to use these filters. Find ones that work best for your investing or trading style. I think I'm going to go with four times the previous one so it'll be 5, 20, and 60. I'm thinking that a wider range between them might be better. I guess I'll find out.

As always, if you want to try these feel free to change any parameters or add any indicators you like to make it work for you.

ETA: I know the average trading week is 5 days, and the average trading month is 21 days, but I just found out that in 2020 the average length for a trading quarter is 63 days, which explains his MA length choices.

General Discussion · Can you filter out leveraged ETFs?
JoeyVinyl
msg #152343
5/26/2020 5:22:40 PM

That's good to know, Ed. It'll probably just be easier to manually ignore them, so to speak. Thanks!

Filter Exchange · Need Some Help Please
JoeyVinyl
msg #152342
5/26/2020 5:21:23 PM

I don't use stochastics myself and the only thing I could find that didn't have two lines like a MACD was Stochastic Momentum. If that's not what you were looking for then just ignore that line. The other two should help. A filter with just these three lines only gave me six hits though.

RSI(7) crossed above 50
Stochastic Momentum(12,3,3) crossed above 50
MACD Fast Line(12,26,9) crossed above the MACD Slow Line(12,26,9)


General Discussion · Can you filter out leveraged ETFs?
JoeyVinyl
msg #152311
5/24/2020 9:51:57 PM

Is it possible to have a filter where the market is ETF but have it filter out leveraged ETFs?

Filter Exchange · Deadly Combo updated
JoeyVinyl
msg #152284
5/22/2020 4:42:57 PM

Mac,

Volatility has definitely increased in a lot of different stocks lately, especially bio stocks in the medical sector. That's probably going to be with us for a while and needs to be taken into account when planning a trade.

General Discussion · How to find the last time something happened
JoeyVinyl
msg #152283
5/22/2020 4:25:04 PM

@xarlor

I didn't think about the indicator index. I usually scroll down the home page to see the list but for whatever reason I didn't think days since was there. Now I know to double check first. Thanks!

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