mp6140

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i havent a clue as to what stockfetcher scan by TRO you refer to but the "official" guide is here -- http://www.stockhideout.com/showthread.php?t=997

any additions by "therumpledone" or others, while certainly helpful, do not alter the original instructions, but add "stockfetcher" scans that supposedly make it easier to find stocks that the RSIWLR method would find as hitting bottom, although a simple "pattern scan" using a stock that is bottoming as a "pattern" will turn up any number of candidates.

the RSIWLR was designed essentially for newbs to be able to recognize stocks that should be coming off their bottoms and presenting a good trading opportunity and/or to be able to check "touted stocks" to see if the stock has already hit its highs, and are ready to be dumped --- preventing the newb from buying at the high and then becoming a bagholder, and how one scans for these stocks depends on what criteria one normally uses, although "below lower bollinger" and "touched lower LRC" will certainly find them for you.

the whole idea behind it is to offer a fairly non-technical way of testing a stock to those who do not yet understand technical analysis well, and to that end it is excellent. Simply stated, if a stock is touted as "get in now" and you see that its about to hit (or has hit) the top LRC and the RSI is in the 90-100% area, DO NOT DO IT !!!!! Also, coming from the other direction, with the use of the timeseries lines crossing UNDER a stock and the RSI and the other indicators hitting bottom,, one has a very decent method to see if a stock is looking for a run also.

If you simply watch it and watch your chosen stock, you will understand how it works almost immediately ---- not a "cheat sheet", but a very efficient method of seeing what a chosen stock should do next ! Just follow a few stocks with it for a week or so and you will understand !

and since you have questions, i guess its up to me to clarify the threads about it by combining and deleting whats not needed --- thnx for the insight.

enjoy, and trade well !

mp

cruz

i used this link - http://www.stockfetcher.com/stockdb/...046&start= 60

the code posted 1/30/2006 12:54:52 PM. i tweaked it to add multiple tsf 5, 9, 15, and 50

i could copy and paste my version here. do you want it?

Uptrend

How can one find the corvino scan referred to in the original post.Ever so grateful!

__________________
Chance favors the prepared mind!

Uptrend

Yes! thank you for your kindness.
Oh! MP. Cruz got it for me, thanks!

__________________
Chance favors the prepared mind!

cruz

Again thanks MP. I will do just that. One stock I am watching is ONT. Though, I have a lot to stiff through to find the best possible scenario stock to watch. Stockfetcher RSIWLR scan pulled up 190 or so based on 1 - 5 pps and avg vol >= 300000.

Your comments on ONT wouold be greatly appreciated. Not sure if ONT is the best example to follow in the next week or so.

mp6140

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as i posted, please understand that the RSIWLR is a way to ANALYZE a stocks oversold or overbought condition (or, actually, anyplace in between).

In and of itself, IT IS NOT A SCAN --- those scans come from others and may or may not work well, so youre on your own with them. Personally, i dont understand them one bit, because WHAT are they scanning for since the analyzer itself is just a way of using technical analysis without knowing tech analysis at all !!!!!

certainly post your scan, as i would be interested in seeing what comes up. I presume it would look for oversold stocks that are bottoming, which you then check with the RSIWLR, as the analyzer is just a simple guage of what a stock is doing at any moment in time !

thnx

mp

cruz

Here you go! I have the EMAs and MAs commented out. The chart was getting crowded. Just copy below into SF.

/* MP RSIWLR ANALYZER DISPLAY */
/* NORMALIZE accumulation distribution */

set{adval, INDPOSITION(accumulation distribution, 60) * 100 }

/* NORMALIZE momentum(12) */

set{moval, INDPOSITION(momentum(12), 60) * 100}

/* NORMALIZE rsi(2) */

set{rsval, RSI(2) }

/* NORMALIZE williams %r(10) */

set{wrval, INDPOSITION(williams %r(10), 60) * 100 }

/* Modify the 50 to the period of interest. */
set{TSF50, LRI(50) + LRS(50)}
set{TSF5, LRI(5) + LRS(5)}
set{TSF9, LRI(9) + LRS(9)}
set{TSF15, LRI(15) + LRS(15)}

/* DISPLAY THE COLUMNS */

add column wrval
add column adval
add column rsval
add column moval
add column tsf5
add column tsf9
add column tsf15
add column tsf50


/* DRAW THE MP RSIWLR CHART */

and draw wrval
and draw adval on plot wrval
and draw moval on plot wrval
and draw rsval on plot wrval
/* and draw ema(5)
and draw ema(9)
and draw ema(13) */
and draw dma(28, 14)
and draw bollinger(10,1.5)
and draw linear regression channel(60, 1)
/* and draw simple moving average(20)
and draw simple moving average(50) */
and draw TSF50 on plot price
and draw TSF15 on plot price
and draw TSF9 on plot price
and draw TSF5 on plot price

close between 1 and 5
and Average Volume(90) above 300000
and market is not OTCBB
/* END MPs RSIWRL DISPLAY CODE */

mp6140

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hey

ONT appears to be a very nice little stock, being in an LRC uptrend (would you want to buy any other kind of stock ?) and appearing to have bottomed at the moment, ALTHOUGH i would watch closely as it has bottomed on a moving average, and not its trend line support or the lower LRC and that is worth watching ! Pay some attention to the fact that the Accum/Dist line DID NOT follow the bottom, pointing to the fact that MANY thraders are still holding shares, waiting for the stock to hit yet further highs --- this is good and bad, as there is a lot of pressure on the stock to rise again, BUT there are also a lot of shares waiting to be sold at the next high. (which translates into when the stock peaks, get out quickly cause a lot of people should be leaving)

NOW, if they dont sell into the next rally, that shows a belief that the stock will rise yet more. at that time, i would sell at the top of the rally and then buy back at the low, assuming one wants to get the most out of this one little stock and not go on to others !

its just another way of trading, and works VERY well, narrowing down the number of stocks you actively trade and assuring you nice profit.

also be aware that not all stocks immediately bounce up after hitting bottom -=-- most consolidate for a while, waiting for the next leg up, but all the indicators having hit bottom at a nice angle shows a good probability that this one will move soon, so pay attention to the timeseries lines each day!

the ascending LRC gives additional downside protection, as the stock normally should not drop lower (unless theres really bad news) so an early entry is given the most insurance possible, although i dont like to get in early myself, preferring to see some sign that the stock is getting ready to move --- usually provided by the timeseries lower numbers crossing up over the higher number ones !

for a change, take ONT to stockfetcher and do a "pattern match" and see what comes up, or do a scan for "uptrending LRC patterns" in your price range and check the relatively few that it produces with the RSIWLR. if the stock is at the top of its cycle, write it down and check again in a few days --- let the stock come to you instead of the other way around !

lots of ways to trade, and being methodical and waiting is one i enjoy a lot !

mp

cruz

I understand MP. Your feedback on the code scan results would be greatly appreciated. It sure would be nice to run a nightly scan and chart through the stocks to put on watch rather than just punch in stock symbols into prophet.net and analyze. Trying to be efficient with the limited time I have in researching stocks.

I hope we can marriage your analyzing principle with Stockfetcher to come up with an accurate analyzer and scan in one package.

I hope I made myself clear.

I do not take credit for the SF scan as it was written by TRO I believe. Maybe corvino involved too.