RE: US Stocks and ETFs - Watchlist and Discussion
(2019-06-29, 11:41 PM)Mactheriverrat Wrote: No I wasn't -Â
I like your charts
I think I just won't post anymore-
Don't stop posting but I admit your bold text response did provoke me to respond. Anyway, not sure if this is the best place, but I think some annotation of one of my charts is a good idea. My charts are very busy, but I like to see all infomation in one go. See CURE below:
1 & 2: Breakout (green) and stop loss levels (red).  I created my own breakout level indicator many years back. The one shown here is the results of my experimentation after some discussions on this forum and my back testing. The green line is used in my screener to detect breakouts. The red stop loss level is something that worked well in backtesting, but I use it more as a guide and often place it tighter. If you look at 2 you will note it is higher than the price. This is a faily insidious bug that I am yet to track down and only appears occasionally.
3. Keltner channels. Yes, not covered in the book. There has been some discussion of them on this forum. I probably ought to turn them off by default, so fair point.
4. The black and red is the relative strength of the stock price against the chosen index and the zero line with is a long term moving average. If you flattened this moving average line out you would get the Mansfield relative strength. So it is not quite like the book. On some charting software you cannot plot the Mansfield relative strength, but you can plot this. There is a thread on this subject. Further, from Isa's interview with Stan Weinstein (a coup) and I think review of some of Stan Weinstein's newsletters it is apparent that the slope of the zero line on the relative strength should be rising. So it is well worth plotting this one.
5. The Mansfield relative strength, as per the book.
6. This is the ratio of today's volume versus the average volume of the past few weeks. You won't see this elsewhere (unless someone else independently plots it). I find this a useful gauge of volume and it fits in with the principles of the book. More rigorous than just eyeballing it.
7. The average volume of the past week (five days) compared to the previous few weeks. I'm afraid I mislaid my copy of the book, but it is along the lines of the principle of the book in that it allows me to compare the last weeks volume with proceeding weeks, again, more rigorous than just eyeballing it.
8. Compares volume of the last few weeks with the weeks proceeding that. Alternative / compliment to 7, again, based on the descriptive text in the relative part of the book.
9. The MACD. Don't use it much but I have used it for judging pullbacks.
10. Price / Volume Trend, Cummulative Force Index and On Balance volume overlaid. Fair cop, thought they would be useful but don't really use them. Ought to delete at some point.
11. Average True Range. Can be used for stop loss and position sizing. Useful idea of volatility, also used as a basis for Keltner Channels.
12. Something I made up completely - compares last five days price * volume with that of a longer term, and using some maths makes this into an oscillator. If it is near +2 price is rising on strong volume, -2 falling on strong volume, -1 to +1, nothing interesting happening.  Some utility, I was experimenting.