Al Sat Sistemi Elder Triple Screen Trading System

Elder Triple Screen Trading System

Coded by Dennis Skoblar 7/05/2005. Derrived from "Trading For A Living" and "Come Into My Trading Room" by Alexander Elder. This scan finds candidates by the Weekly MACD Historgam slope, and the Daily 2 Period Force Index dipping above or below it's Zero Line. Plot a Weekly 26 Period EMA to help confirm the weekly direction. It should be rising along with an uptick on the Weekly MACD Histogram to go long. However, Elder writes that divergences in the MACD Histogram override the EMA. The Daily 2 Period Force Index will be below it's Zero Line. Look for the stock to pullback to around it's Daily 13 Period EMA. Also use the Daily 22 Period EMA to confirm the direction of the daily trend. Do the opposite for shorts. Use the Long/Short EMA Weekly Direction Tabs as filters to cull through the scan to only display the Weekly EMA going in the intended trading direction. Use the Long/Short Elder Ray Tabs (BullPower AND BearPower) to fine tune the entry signals. This tab is best used when in agreement with the Long/Short EMA Weekly Direction Tabs. A 50 Period EMA > 100000 is used to Filter Volume. A minimum of a 5 point run in one Month is used as a Filter for a stock's range. This scan is best used as an Exploration.

//TimeFrameSet( inWeekly );
WeeklyMACD = MACD(12,26) - Signal(12,26,9);
WeekHistRising = Ref(WeeklyMACD, -1) < Ref(WeeklyMACD, 0);
WeekHistFalling = Ref(WeeklyMACD, -1) > Ref(WeeklyMACD, 0);
FIWeekly = EMA(V*(C-Ref(C,-1)),13);
WeeklyForceIndexLong = FIWeekly > 0;
WeeklyForceIndexShort = FIWeekly < 0;
TimeFrameRestore();

//Weekly criteria
MACDLongW = WeekHistRising;
MACDShortW= WeekHistFalling;
FILongW = WeeklyForceIndexLong;
FIShortW = WeeklyForceIndexShort;

// Daily criteria
FIDaily = EMA(V*(C-Ref(C,-1)),2);
FILongD = FIDaily < 0;
FIShortD = FIDaily > 0;
VFilter = EMA(V,50) > 100000;
TenTwentyFilter = HHV(H,20)-LLV(L,20); // How much price has gone in one month (>=10 points preferable)
FiftyDayHVFilter = round(StDev(log(C/Ref(C,-1)),50)*100*sqrt(256)); // One year volotility (>=40 preferable)
Bullpower= High - EMA(Close,13);
Bearpower= Low - EMA(Close,13);

// Scan criteria
ElderLong = MACDLongW AND FILongD AND FILongW;
ElderShort = MACDShortW AND FIShortD AND FIShortW;

// Columns for exploration

NumColumns = 12;

Column0 = FullName();
Column0Name = "Ticker name";

Column1 = " ";
Column1Name =" ";

Column2 = ElderLong;
Column2Name = "Long";

Column3 = ElderLong AND EMA(C,130) > Ref(EMA(C,130),-5);
Column3Name = "Long EMA Weekly Direction";

Column4 = Column3 AND (bearpower < 0 AND bullpower > 0);
Column4Name = "Long Elder Ray Filter";

Column5 = " ";
Column5Name =" ";

Column6 = ElderShort;
Column6Name = "Short";

Column7 = ElderShort AND EMA(C,130) < Ref(EMA(C,130),-5);
Column7Name = "Short EMA Weekly Direction";

Column8 = Column7 AND (bearpower < 0 AND bullpower > 0);
Column8Name = "Short Elder Ray Filter";

Column9 = " ";
Column9Name =" ";

Column10 = TenTwentyFilter;
Column10Name = "One Month Point Range";

Column11 = FiftyDayHVFilter;
Column11Name = "Historical Volotility 50 Day";

AddTextColumn( IndustryID(1), "Industry" );

AddTextColumn( MarketID(1), "Market" );

// Filters
Filter = VFilter AND (ElderLong OR ElderShort);
Buy = ElderLong;
Sell = 0;
Short = ElderShort;
Cover = 0;

kaynak
purebytes