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Hello All,
I wonder if someone can help me develop a stock market scan.
I use Alexander Elder's MACD Impulse system, which was scripted for esignal by Chris.
I really would like help in developing a scan that will identify stocks that fall within the formula's parameters.
Below is a detailed description of what the MACD Impulse System attempts to achieve and how it achieves it:
MACD System is designed to identify the inflection points where a trendspeeds up or slows down. The Impulse System works in any timeframe,including intraday. It provides buy and sell signals, but leaves it up to you to select good markets, tweak parameters, and supply the discipline.
The Impulse System combines two simple but powerful indicators.
One measures market inertia, the other its momentum. When bothpoint in the same direction, they identify an impulse worth following.
We get an entry signal when both indicators get in gear, but as soon asthey stop confirming one another, we take that as an exit signal.
The Impulse System uses an exponential moving average to find
uptrends and downtrends. When the EMA rises, it shows that inertia favors the bulls. When EMA falls, inertia works for the bears.
The second component is MACD-Histogram, an oscillator whose slope reflects changes of power among bulls or bears. When MACD-Histogram rises, it shows that bulls are becoming stronger. When it falls, it shows that bears are growing stronger.
The Impulse System flags those bars where both the inertia and the momentum point in the same direction. When both the EMA and MACD-Histogram rise, they show that bulls are roaring and the uptrend is accelerating. When both indicators fall together, they show that bears are crushing the market. Those
Sorry if its a bit long-winded, but I thought it best that I include as much information about the system so that someone may find it easier to assist me.
So, I am hoping that someone can help me devise a stock scan that will help me identify the above. I am prepared to bite the bullet and purchase AGET if thats what you recommend.
For example I have experimented looking for stocks that have reached there New 52 week high, stocks that have increased institutional ownership, etc, etc. While I have found stocks within those groups that match meet with the MACD Impulse criteria, its not consistent.
After months, and months of training/experimenting I have now found a system within MACD Impulse that I'm happy with I just need to find stocks that I can trade with it.
As always, I really appreciate all of your help.
Cheers
Carlton
I wonder if someone can help me develop a stock market scan.
I use Alexander Elder's MACD Impulse system, which was scripted for esignal by Chris.
I really would like help in developing a scan that will identify stocks that fall within the formula's parameters.
Below is a detailed description of what the MACD Impulse System attempts to achieve and how it achieves it:
MACD System is designed to identify the inflection points where a trendspeeds up or slows down. The Impulse System works in any timeframe,including intraday. It provides buy and sell signals, but leaves it up to you to select good markets, tweak parameters, and supply the discipline.
The Impulse System combines two simple but powerful indicators.
One measures market inertia, the other its momentum. When bothpoint in the same direction, they identify an impulse worth following.
We get an entry signal when both indicators get in gear, but as soon asthey stop confirming one another, we take that as an exit signal.
The Impulse System uses an exponential moving average to find
uptrends and downtrends. When the EMA rises, it shows that inertia favors the bulls. When EMA falls, inertia works for the bears.
The second component is MACD-Histogram, an oscillator whose slope reflects changes of power among bulls or bears. When MACD-Histogram rises, it shows that bulls are becoming stronger. When it falls, it shows that bears are growing stronger.
The Impulse System flags those bars where both the inertia and the momentum point in the same direction. When both the EMA and MACD-Histogram rise, they show that bulls are roaring and the uptrend is accelerating. When both indicators fall together, they show that bears are crushing the market. Those
Sorry if its a bit long-winded, but I thought it best that I include as much information about the system so that someone may find it easier to assist me.
So, I am hoping that someone can help me devise a stock scan that will help me identify the above. I am prepared to bite the bullet and purchase AGET if thats what you recommend.
For example I have experimented looking for stocks that have reached there New 52 week high, stocks that have increased institutional ownership, etc, etc. While I have found stocks within those groups that match meet with the MACD Impulse criteria, its not consistent.
After months, and months of training/experimenting I have now found a system within MACD Impulse that I'm happy with I just need to find stocks that I can trade with it.
As always, I really appreciate all of your help.
Cheers
Carlton
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