Yes, you can run 'Bruno R' II as a scan.
'Bruno R' II uses the nearest three Dry Up Volume levels for its calculations compared to six months of volume data as in previous chart scripts.
- Spydertrader
Spydertrader's Jack Hershey Equities Journal II
- Thread starter Spydertrader
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Yes, you can run 'Bruno R' II as a scan.
'Bruno R' II uses the nearest three Dry Up Volume levels for its calculations compared to six months of volume data as in previous chart scripts.
- Spydertrader
Spyder, is the new culling parameter of 25% inside ownership for the Bruno R approach only? Or do you consider it applicable to the "bread and butter" dry-up/FRV approach as well?
I believe that anytime one can improve the quality of the stocks one wishes to trade, one should do so. Having said that, I use the "25% Insider Owned" parameter as a confidence builder at present. In other words, I have an improved sense of anticipation toward a positive outcome when a see a signal on a stock which meets this criteria. I keep two separate Universes currently. One uses the "25% Insider Owned" parameter and the other does not. As you might expect, adding the "25% Insider Owned" parameter to the culling process prevents many equities from entering the Final Universe, and cuts the current Final Universe almost in half. Such activity reduces the overall number of trades. For now that seems like a trade off I can live with, but I am not quite ready to use the "25% Insider Owned" to the exclusion of other equities. OF course, Your Mileage may vary.
- Spydertrader
Note the run up in price on low volume (and subsequent return) on the first bar. As no volume signal occurred, I did not take this trade.
- Spydertrader
<img src=http://www.elitetrader.com/vb/attachment.php?s=&postid=1107381>
Tuesday Stocks
CBEY GIGM
- Spydertrader
CBEY GIGM
- Spydertrader
Hi Spydertrader,
in the new script, you have modified the definition of the 3 lines in the volume pane.
Could you please explain the meaning of the 3 lines and how should we use them?
Why don't you use the following definition:
DrawHorzLine (DUHigh, volpane, #purple, #Thin); {DUHigh}
DrawHorzLine (3*AVERAGEDU, volpane, #purple, #Thin); {FRV}
DrawHorzLine (2*(3*AVERAGEDU), volpane, #purple, #Thin); {Peak}
Where can i find the definition of DU, FRV and Peak by Jack Hershey?
Is the definition of your PVADScore different from Jack Hershey's?
Thank you!
- qx04790
in the new script, you have modified the definition of the 3 lines in the volume pane.
Could you please explain the meaning of the 3 lines and how should we use them?
Why don't you use the following definition:
DrawHorzLine (DUHigh, volpane, #purple, #Thin); {DUHigh}
DrawHorzLine (3*AVERAGEDU, volpane, #purple, #Thin); {FRV}
DrawHorzLine (2*(3*AVERAGEDU), volpane, #purple, #Thin); {Peak}
Where can i find the definition of DU, FRV and Peak by Jack Hershey?
Is the definition of your PVADScore different from Jack Hershey's?
Thank you!
- qx04790
OK, I'm a bit confused by this - these stocks weren't on my list using the wealth-lab scans. I must be doing something wrong.
My observations below are given in the spirit of debate and learning - I appreciate comments and suggestions as to what I am missing.
CBEY: 20.05
failed to traverse the IT on 7th June, no? Still in subsequent down channel, taping. MACD negative, stochs << 50. Volume at 40% of 65 day average, so not technically in DU (if you use the 25% ratio). This could go down another 2% before it hits the IT support.
GIGM: 7.17
In down-trend since 11th May. Currently taping well and could intersect channel at 7.70 or so (+7%). MACD still negative, fast stoch rising well. Downside risk: if it fails to traverse it could end up at $6.xx level.
I'll be very interested to see how the price develops for these two. I'm not trying to predict (honestly) just applying what I have learned so far from Jack regarding channels.
JY
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