# Simple scanner



## hotqld (22 July 2010)

I am looking for a scanner that will just measure the slop of the macdh ie up or down on weekly and monthly charts to estabish a trend and at the same time measure daily for the stocastic 4 1 1 dropping below 30.as a ocsolator.
To filter which stocks / charts to then analise further. 
This is the triple screen system Dr Elder puts forward and then obviously apply volumne studies and price.  

I have market analyst 6 and as with other charting packages it will only tell me if the MACDh is above 0 OR below which is not what I want.
I think IC investor might have this capability but it goes against the grain not being able to import my data into that software and being forced to pay for the same data twice.

Is anyone aware of a simple low cost scanner out there that I can import my own data into to achieve the above.


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## Wysiwyg (22 July 2010)

hotqld said:


> I am looking for a scanner that will just measure the slope of the macdh ie up or down on weekly and monthly charts to estabish a trend and at the same time measure daily for the stochastic 4 1 1 dropping below 30.as a oscillator.




Well Amibroker can code whatever the user can think of so my interpretation is as follows & accompanied by weekly chart signals from 2003 to today for the StochD(4,1,1) below 30 and the MACDH increasing. I used three bars to define an rising MACDH.   

Most of the time when MACDH is rising, the StochD(4,1,1) is above 30 (due to the shorter 4 period of measure) so not many signals and not reliable too. Let's see what ASX does from this buy signal today if a buy on open tomorrow (23rd July 2010) is executed. (Note MACDH is falling on the daily)


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## hotqld (24 July 2010)

Wysiwyg said:


> Well Amibroker can code whatever the user can think of so my interpretation is as follows & accompanied by weekly chart signals from 2003 to today for the StochD(4,1,1) below 30 and the MACDH increasing. I used three bars to define an rising MACDH.
> 
> 
> Most of the time when MACDH is rising, the StochD(4,1,1) is above 30 (due to the shorter 4 period of measure) so not many signals and not reliable too. Let's see what ASX does from this buy signal today if a buy on open tomorrow (23rd July 2010) is executed. (Note MACDH is falling on the daily)




Hi Wysiwyg, Thankyou for your input  


XAO Appears to be going OK, not real strong as it doesnt meet MA rules.
when I look at the XAO the chart tells me to short...anyway lets see how it goes.
entry 4439  21/7/10

 I have amibroker but no idea how to use it and appears I can import my data into it.
Will it scan the ASX 300 say from 1/6/2010 to present. Then on a daily basis?
The rest of what I am looking for confirm an entry.
Not all of this I need to scan as I want to look at price and volumn action but it would save a lot of time. 
Weekly MACD H rising .....only need 1 bar not 2-3
weekly 34EMA increasing
Daily Fast stocastic 4 1 1 below 30 
Daily 13EMA increasing
Volumne above 15SMA (may have to drop out of scan as can be subjective being after the fast stocastive has risen from below 30 to above)
Volumn greater than 500,000 daily avearge for the month.
Close in the 1/3rd of the bar (This one is subjective too is likely to happen after the fast stocastic has risen above 30, but no entry yet) 
price greater than 80 cents

opposite to short.

entry two days previous 1 cent above the high.
The Daily MACHD I would expect to be negative but turn positive on entry, one of my stop loss stageties is after the entry if I cant move my stop under any obvious support and the daily Machd changes from up to down shove the stop under that days low.

Whats your thoughts?


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## hotqld (24 July 2010)

A short example that meets all the criteria apart from vol which I find subjective....and felt the drop off in vol during the pullback overode the 
15SMA and that was the vol confirmation.
XAO  18/5/10 short @   4596
24/5/10 stopped out @ 4344  (spike reversal 23/5)


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## tech/a (24 July 2010)

> Whats your thoughts?




Canned oscillators are a complete waste of time.
Your attempting to align like oscillators which are all telling the same thing to find the "perfect entry"

As time goes by you'll learn its Support/Resistance/price and time. Volume but for me I'm look for where its NOT!
and price tests which hold the key.

Unfortunately its a road we have all travelled.


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## Wysiwyg (24 July 2010)

hotqld said:


> Whats your thoughts?




Too many conditions is what I think.


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## hotqld (24 July 2010)

tech/a said:


> Canned oscillators are a complete waste of time.
> Your attempting to align like oscillators which are all telling the same thing to find the "perfect entry"
> 
> As time goes by you'll learn its Support/Resistance/price and time. Volume but for me I'm look for where its NOT!
> ...



Mumbly jumble I dont understand
Canned Oscillators......using raw data and price for entries and indicators to short list?
Perfection is close to 100% ....realistic is 60-70% 
Would u mind sharing with us what company u are a director in?
Would it be share trading by any chance?


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## hotqld (24 July 2010)

Wysiwyg said:


> Too many conditions is what I think.




Thanks for your detailed input


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## Wysiwyg (24 July 2010)

hotqld said:


> Thanks for your detailed input



I spent half an hour of my time on your question about a scanner the other evening and from your ensuing communications I draw the conclusion that was half an hour too much of my time. Bye.


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## ThingyMajiggy (24 July 2010)

hotqld said:


> Whats your thoughts?




Couldn't think of a bigger waste of......oh wait......nope, thought I had something but false alarm, couldn't think of a bigger waste of time. 

Good luck.


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## hotqld (24 July 2010)

ThingyMajiggy said:


> ......oh wait......nope,




Great advise
Wish u all the best


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## Julia (24 July 2010)

hotqld said:


> Mumbly jumble I dont understand
> Canned Oscillators......using raw data and price for entries and indicators to short list?
> Perfection is close to 100% ....realistic is 60-70%
> Would u mind sharing with us what company u are a director in?
> Would it be share trading by any chance?



Oh dear.


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## ThingyMajiggy (24 July 2010)

hotqld said:


> Great advise
> Wish u all the best




You would soon realise it too if you thought about it for half a second, everyone does the same thing as what you are trying to do, all the wonderful indicators trying to get the perfect entry, yet whats the going failure rate? 90% last time I checked. How many successful traders do you know(if any) make serious dollars using what you are asking for? Its all been done before mate. But by all means go for it, do the same things 90% of us do, fine by me 

On the other hand, if you're a scamming blood-sucker thats creating another super-mega-profitable system and going to sell it for $4999 with 50% off, only to the next 125 callers, then go for it, you're on the right track! 

All the best.


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## johenmo (25 July 2010)

ThingyMajiggy said:


> But by all means go for it, do the same things 90% of us do, fine by me




less is more, as the saying goes.  Lots of indicators to try to pull the "best" stocks won't get you there.  My learnings were confirmed yesterday when i saw a swing trading setup/system that is profitable and saw how simple it is.  Not 100% win for sure but as long as the sum of the wins are more than teh sum of the losses then that's a good start. Price action is the key.

K.I.S.S.


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## tech/a (25 July 2010)

hotqld said:


> Mumbly jumble I dont understand




Unfortunately you may not last long enough in this pursuit to understand.



> Canned Oscillators......using raw data and price for entries and indicators to short list?
> Perfection is close to 100% ....realistic is 60-70%




So much to learn!
Yet you "know it all"



> Would u mind sharing with us what company u are a director in?
> Would it be share trading by any chance?




Retaining Wall Industries (Civil) Pty Ltd.
Obviously its involved in share trading.


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## hotqld (26 July 2010)

ThingyMajiggy said:


> yet whats the going failure rate? 90% last time I checked.




Sounds like interesting independant research, Where do u check those numbers? What Is the a time frame? 



ThingyMajiggy said:


> if you're a scamming blood-sucker thats creating another super-mega-profitable system and going to sell it for $4999 with 50% off, only to the next 125 callers, then go for it, you're on the right track!




Would that be similiar to a volumn based charting programme I found on the internet with pink in the vol area?  Think that was around $5grand.!
I am a private technical trader for 3 yrs now with my TAB now plus or minus 2-4 % my standard entries are: Break of resistance and support levels with no indicators. 45 odd over 3 years on weekly and daily charts so I am not big time trader on here unlike others on here. But I am trading my own money in the real market. 
Glad I switched from fundamentals (buy and hope) to technicals just before the GFC....I am not whinging.

But as I try to evolve and improve by reading and testing systems every now and again I do test out indicators.....like devergence a worthwhile stop management tool?? But not for entries?
I was merely testing out Dr Elders ideas from one of his books ...all free stuff! XAO is still going up based on Dr Elders writings or is that Random Walking?

Reading the responces appears this may not be the place for open interchange of ideas.


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## ThingyMajiggy (26 July 2010)

hotqld said:


> Would that be similiar to a volumn based charting programme I found on the internet with pink in the vol area?  Think that was around $5grand.!
> I am a private technical trader for 3 yrs now with my TAB now plus or minus 2-4 % my standard entries are: Break of resistance and support levels with no indicators. 45 odd over 3 years on weekly and daily charts so I am not big time trader on here unlike others on here. But I am trading my own money in the real market.
> Glad I switched from fundamentals (buy and hope) to technicals just before the GFC....I am not whinging.
> 
> ...




1. How is it possible to consistently stuff up the quoting, click quote and it does it for you! Another issue so dropping that. 

2. Please show me at which point I said it was wiser to choose a volume-based program off the internet that costs $5K??????

3. I couldn't care less what you trade or how you trade or how ever many years experience you have being a "technical trader"  It's obviously working for you, otherwise you'd be here looking for ways to code up a scanner using MACD and stochastic measurements : 

4. Not sure why I'm continuing on in this discussion anyway, not like I'm going to change your opinion, good luck with whatever you're trying to do, I'm sure it'll accelerate your profits in leaps and bounds 

All the best buddy, not going to waste my time in here any further.


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## sinner (27 July 2010)

****. You guys are absolutely useless. Nobody even listened to the poor dudes request.

Triple Screen Trading is extremely profitable and simple technique hotqld, and those on this thread who have ridiculed you simply for asking a question about indicators actually have no idea what you are asking even though their favorite trader (Nwho many actually pay for) uses the same principle in one of his investment strategies.



> You would soon realise it too if you thought about it for half a second, everyone does the same thing as what you are trying to do, all the wonderful indicators trying to get the perfect entry, yet whats the going failure rate? 90% last time I checked.



Arrogance. And idiocy. I provided an example of a profitable trader using this strategy, but the mods deleted it because it referenced Nick Radge. Do you think pro traders bothers quantifying momentum using some arcane concept that nobody understand? NO. They almost certainly plot daily and weekly momentum using a MACD or a 5/34 oscillator like the AdvancedGET one or any other useful Mom oscillator. I promise you, there is no secret to quantifying past mom especially on higher timeframes. All you need is a MACD. MACD is perfect for quantifying past momentum. 

All that hotqld is asking for is a stock scanner that he can set up to monitor those conditions across multiple timeframes. H*e did not ask you for advice on indicators, or whether his choice of indicators would be profitable, or whether he should use indicators or not, he didn't even ask you to plot a WEEKLY STO4,4,1 and WEEKLY MACDH in the same window and then tell him he's doing it wrong.* He just wanted help finding an MTF stock scanner.



But I have to say, the response for this thread has not been unpredictable for this forum.

Now to answer the question, hotqld, I recommend ProRealTime. It is free for EOD data, has a simple to learn and use stock scanner and the data includes the ASX200 (but not all ASX stocks). There is also a trend analysis module called ProRealTrend. You will have no issues scanning different criteria across multiple timeframes.

http://www.prorealtime.com/common/main.phtml?language=en&page=main&insert=proscreener
http://www.prorealtime.com/common/main.phtml?language=en&page=prorealtrend_module



> Reading the responces appears this may not be the place for open interchange of ideas.



You guys acted like assholes to hotqld, and should be ashamed of yourselves.


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## ThingyMajiggy (27 July 2010)

delete my posts in this thread admins. Can't have kids chucking tantrums over straight to the point posts, let sinner have his way, keep his chest puffed up. 

Thanks


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## white_goodman (27 July 2010)

mmm this thread...


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## Wysiwyg (27 July 2010)

sinner said:


> All that hotqld is asking for is a stock scanner that he can set up to monitor those conditions across multiple timeframes.



 And was given one option. Did you see that?







> he didn't even ask you to plot a WEEKLY STO4,4,1 and WEEKLY MACDH in the same window and then tell him he's doing it wrong.



Since I was the only one to take time out to run the indicators on Amibroker and post one of the results, you mean me. Frankly son I post whatever I want that is relative to the post/thread I am referring to and if you don't like that well *pause* have a nice day.


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## pixel (27 July 2010)

Julia said:


> Oh dear.




I'll second that, Julia - redoubled:

*Oh dear! Oh dear! *


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## nunthewiser (27 July 2010)

What was the question?


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## hotqld (27 July 2010)

*


white_goodman said:



			mmm this thread...
		
Click to expand...


*Love it...maybe us Diviate Traders should meet for a coffee....and who knows


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## BBand (27 July 2010)

Just read the thread.

Oh Dear, I use indicators exclusively and have been consistently profitable for years

I must be using them the "wrong way"

or is it something else?

Of course the market is based on support and resistance!!, what a revelation - if it wasn't it would be a "one way street"

Why do we make profound statements such as "indicators are a complete waste of time?"
Some traders say that volume is a waste of time
At the end of the day - its only an opinion

Who are we to say that a particular methodology does not or cannot work for
someone

Some of the price S/R levels / price patterns that I have seen drawn by some "expert" - to me were very subjective, but so what - its what they see and thats all that matters

Analysis can be a bit pedantic at times

Its the control of RISK that counts, pure and simply
(Oh and pos. expectancy etc, etc, etc)

Analysis is way down the food chain, and its something that there is no finite answer to!, but the different methodologies sell books and give us something to talk about and impress each other with

*Its not what you know - its how you apply it*

Sorry Tech - I'm not picking on you, just some of the phrases used (makes my blood pressure rise a bit) I totally respect the time and effort you devote to helping others

Peter


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## Julia (27 July 2010)

Wysiwyg said:


> Too many conditions is what I think.






hotqld said:


> Thanks for your detailed input






hotqld said:


> Mumbly jumble I dont understand
> Canned Oscillators......using raw data and price for entries and indicators to short list?
> Perfection is close to 100% ....realistic is 60-70%
> Would u mind sharing with us what company u are a director in?
> Would it be share trading by any chance?







sinner said:


> ****. You guys are absolutely useless. Nobody even listened to the poor dudes request.



That's a bit harsh, sinner.  There were some genuine responses to the OP's request.  After the OP had detailed a very long list of what he was using and asked what people thought, Wysiwyg perfectly reasonably imo said he thought there were too many conditions.  What's wrong with that?

In response, the OP was sarcastic, as he was in response to Tech-A's original post.

In both cases, instead of the sarcasm, he could politely have asked if they could be more specific.

And for the record my "Oh dear" was purely referring to what sort of responses would follow the sarcasm and was nothing to do with the OP's technical ability or otherwise.


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## trainspotter (27 July 2010)

It's an aquired taste this ASF thingy. As sinner said "Now to answer the question, hotqld, I recommend ProRealTime. It is free for EOD data, has a simple to learn and use stock scanner and the data includes the ASX200 (but not all ASX stocks). There is also a trend analysis module called ProRealTrend. You will have no issues scanning different criteria across multiple timeframes"

Trusting this clears up your area of concern hotqld. Over and out.


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## tech/a (28 July 2010)

> Sorry Tech - I'm not picking on you, just some of the phrases used (makes my blood pressure rise a bit) I totally respect the time and effort you devote to helping others




Pete
I think there are a great number of holes in the technical debate.

Much is a given---by those who use a technique of analysis and many of the cliche's are without researched foundation---in the large majority of cases---including my own---comments should have an "I have found " attachment---rather than a blanket statement.

I would argue that a 55% success rate with a .6 expectancy and a high frequency of trading is profitable---is it skill or luck in the data set???

If I have a chess player who wins 95 out of 100 games I would argue skill.

Is technical analysis skill?

I'm currently gathering a team of people far more intelligent than I to answer these questions.


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## overit (28 July 2010)

tech/a said:


> I would argue that a 55% success rate with a .6 expectancy and a high frequency of trading is profitable---is it skill or luck in the data set???
> 
> If I have a chess player who wins 95 out of 100 games I would argue skill.
> 
> ...




Cool! I would be very interested in this research. But I guess if you go to that much effort you wouldnt hand it out on a platter!


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## hotqld (28 July 2010)

Julia said:


> That's a bit harsh, sinner.  There were some genuine responses to the OP's request.  After the OP had detailed a very long list of what he was using and asked what people thought, Wysiwyg perfectly reasonably imo said he thought there were too many conditions.  What's wrong with that?
> 
> In response, the OP was sarcastic, as he was in response to Tech-A's original post.
> 
> ...




Hi Julie
I do not consider my responses anymore sacastic than I recieved, rather I have not reacted in highly strung way.

The Australian Technical Analyst association maybe interested in a presentation ...."Indicators thats why 90% fail" It should come across with a lot of emotion.
I would certainly attend.


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## adt100 (4 August 2010)

I find this discussion a bit of a funny one. Does fundamental analysis work ? Well no not really. Does Technical analysis work? Well not really. Does arbitrage work? Well not really. Does market timing work? Well not really

Can they all make money, does someone somewhere make money from them. Well yes . Once that is accepted and understood whatever you use to enter a trade can probably (as long as remotely sensible) be made profitable.

Tech havent given it too much thought so maybe putting it out there a bit early but your study into technical analysis. 

Seems likely to end in dissapointment I would think and I have no idea what the answer will be. But I would have thought defining what actual technical analysis is to be your first problem. I personelly use systems on price action but is buying a 55 day high or whatever (example fellas) any more less technical analysis than a 200 day MA or indicator. I would think the project is kind off endless. By the way I know of at least one hedge fund that uses indicators and has been profitable for 10 yrs even through 2008.

My real point really what happens once you have an answer (which I think is virtually impossible and I dont think you could define the parameters clearly or objectively enough). Then what? I assume you think there is no edge within technical analysis which im inclined to agree with. Lets say that is proven by your study. Well I know full well from what you have said elsewhere you accept that this doesnt make you the money anyway. I have had many discussions along the same lines before and it seems to me to be a bit like the beginners cycle in reverse.  A need to know the answer yes or no probably will not help in making you profitable and if a edge if found I suspect it wont work forever but you will have convinced yourself it does.

As an intellectual study maybe of some interest as a tool for helping you trade profitably I cant see it...............maybe I miss the point tho

I use Amibroker for scanning but have to pay people to do coding. Can be a bit laborious and a shame there is no equilivent of the esignal power scanner for ASX stocks that I know of. If anyone does know of one I would be very interested


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## adt100 (4 August 2010)

By the way whoever mentioned proreal time scanner can this be used for the Australian stocks? Thanks


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