Help: Intraday Trading Range Scanning

MGB (Mike?),

I use CyberQuant but am trying to figure out how you got the 20da range portion of Hitman's criteria. Presumably you selected a "20 Day High" filter, and then somehow related it, thru delta or delta %, to "20 Day Low"??

Anyway, if you wouldn't mind please explain how you set it up to calculate the difference. Thanks.
 
Hey Magma,

1) In the list of available filters, select 20 Day High.
2) At the bottom, select Delta where:
Relation is GREATER or EQUAL
Threshold 1 is 1.5
Quantity 1 is 20 Day Low

You had the right idea all along.

MGB (Michael)
 
Something is definitely wrong with the above list. CRA, DNA, PGR, MMC, MMM, just to name a few are far more volatile than some of the names on the above list as far as trading ranges are concerned.

I am subscribing to QP2, thanks for all of the suggestions.
 
I use http://www.cnbc.com scanner (free) to do a similar scan looking for NAS stocks with > 2.o intraday range, > 1.5M shares per day and price $20 to $40. I reset this list about 2 times a month or when the market has moved up or down significantly. Good luck!
 
CNBC was one of the first places I looked, the problem was that the daily range parameter is generated with today's data, instead of an average across last x number of days.

This is a problem with most screening softwares on the Internet, even BEI, I prefer writing my own code and back in early 2000 when I swing traded part time I spend a lot of time with QP2, guess it is time to pick it up again.

Who knows, I may even give swing trading a try, at least paper trade and see if I can do swing/day at same time, two different mentalities and I have to make sure they don't collide . . .
 
MGB,

Thanks for the breakdown. Had a feeling it was along those lines but hadn't really played with it yet. I like tinkering with Quant despite it's oddities (maybe you can tell me what the difference is between a "20 Day High" and a "1 Month High"). Okay, okay, one day...

Michael, regardless of how often (or not) you post to these boards it's real nice to know you're here.

Magna
 
re: Magma
What's the difference between a "20 Day High" and a "1 Month High"?

"20 Day High" – Highest price the stock has reached over the last 20 trading days, including today. The "20 Day High" period includes all 20 trading days including today.

"1 Month High" – Highest price the stock has reached over the last month, including today. You take today's date and go back to the previous month. If today is the 18th then you go back to the previous month's 18th day. Same date, different month. This is not always 20 trading days. It can more and it can be less.

Let's look at IBM as an example and use actual data. Today is Wednesday, July 18th.

The "20 Day High" period includes all trading days from Wednesday June 20th through Wednesday July 18th. The highest during that 20 Day period is $116.25 which occured on Thursday June 28th.

The "1 Month High" period includes all trading days from Monday June 18th through Wednesday July 18th. The highest during that 1 Month period is $117.25 which occured on Tuesday June 19th. Notice that $116.25 is different than $117.25.

Here's something to keep in mind...

With "20 Day High" you get a period of 20 trading days no matter what.

With "1 Month High" you may get a different period length each day. Let me illustrate. On February 1st, the "1 Month High" period has 23 trading days. You don't include January 1st because it's a holiday. On February 2nd, the next day, the "1 Month High" period has 24 trading days. Notice how the period length changes from 23 days to 24 days. For this reason, I prefer using the "20 Day High" since I know exactly what period I'm dealing with every time I use it.

MGB
 
MGB,

Thanks Mike. I was actually cracking-wise since I realized the One Month High would look at about 21 days on average (and I agree about using the 20 Day High for consistency). Just seemed strange to me that Quant would include both, yet leave out so many other potentially useful filters.

The moniker is Magna, not that lava stuff ;)
 
Thanx Jperl...I am trying out Investertechs 30 day trial. I have been looking around the site and it appears worth the money. I have been using http://www.marketscreen.com But I might switch over to ivestertech if it can perform the same daily screens I usually do. I think marketscreen is a great site with a lot of variables but it is missing a few key ones, like Average Dollar Range.
 
You must log in or register to reply here.
Back
Top