Using The Darvas System

Quote from zwanatico:

Do you know where can I find Darvas scan code for Metastock?
I am not talking about the indicator, but the Explorer.

Thank you in advance
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Colume A

H>Ref(HHV(H,250),-1)

Colume B

HHV(H,250),-1) > 2*LLV(L,250)

Colume C

C

Filter
colA=1 AND colB=1 AND colC>5

P/S: I am not a MetaStock Coding Expert; although the above exploration can list the 'potential' Darvas Stocks as well but I think someone with more experienced surely can come out with a better code. Looking for sharing here, thanks!
 
Anyway, that is why it didn't come up on my scan; because the low had not held for the last 3 days.
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Hi Mike,

What I do is this....when a bottom is firmly established, I set a margin of 1% below the bottom. As long as it doesn't dip below this figure, I would consider the box is still intact. This is the reason why LUB showed in my scan.

1. Most people believe that a major push up is only validated w/ increasing or increased volume - so I wonder if Darvas had volume data whether he would have considered that. I was thinking of adding that as a criteria - not a huge increase but at least a modest increasing rate of volume.
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I try to keep things simple in my "1st version" of Darvas Trading System, am also thinking to add volume as a criteria in future to further refine this great technique.

2. Is there a reason that you stay w/ the NYSE only? I know he did but the exchanges are very different today and I didn't know if there was a valid reason to stay this narrow today? I saw in an earlier post part of the reason was volitility and just the shear number of stocks but I was wondering if you would be better opening to other exchanges but putting some other criteria (like volume or height of the box as suggested by someone else) to limit the quantity?
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I am unable to automate the scanning process at this stage, it takes me more than 3 hours to scan for the NYSE Darvas Stocks. Hopefully I can come out a better scan code in near future, then I can cover for more stocks.
 
Thanks for your help Toby!

However I got this error message:

Column B Error message:
Extra or invalid use of ',' or ')' character(s)

Column B is:

HHV(H,250),-1) > 2*LLV(L,250)


I got same error message with typing this:

(HHV(H,200),-1) > 2*LLV(L,250)

Any help?

Sorry for my ignorance :(

PS What can i do to add some high volume rule?
 
Toby:

I saw your note about scanning.

For what its worth, I use Amibroker for end of day scans and use it to download end of day data for free from Yahoo.

I have built some fairly simple formulas to do the scans and it scans my ticket list (about 8000 stocks from nasdaq, nyse, amex) in under 5 minutes. I also like the fact that I am quickly able to change critiera via their programming langugue (looks similar to the Metastock code from the last reply), for instance I can quickly remove or add a volume criteria or something else.


Not sure what you use or if it is a connection speed issue but 3 hrs for just NYSE sounds really really slow.

Mike
 
Quote from zwanatico:

Thanks for your help Toby!

However I got this error message:

Column B Error message:
Extra or invalid use of ',' or ')' character(s)

Column B is:

HHV(H,250),-1) > 2*LLV(L,250)


I got same error message with typing this:

(HHV(H,200),-1) > 2*LLV(L,250)

Any help?

Sorry for my ignorance :(

PS What can i do to add some high volume rule?
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Aha....typo mistake!!

The correct one is

Column B

HHV(H,250) > 2*LLV(L,250) :p

Try to add this volume>500 in your filter for high volume rule.
 
Hi Mike,

I am using Metastock and Reuters DataLink as my EOD provider. The downloading and scanning process normally will take me around 40 mins to get a list of 'potential' Darvas stocks.

Because I am unable to write a good programming code, then I have to manually to look for the right candidates. This human work is very time consuming.... :mad:

I am still looking for someone more experienced to help me solving this problem. :confused:

Will consider your suggestion to try Amibroker, many thanks!
 
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