Directional Movement Scan HELP Required
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Category: BullCharts
Forum Name: BullScan
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URL: http://www.bullcharts.com.au/forum/forum_posts.asp?TID=92
Printed Date: 05 Apr 2025 at 4:31am
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Topic: Directional Movement Scan HELP Required
Posted By: Seahorse
Subject: Directional Movement Scan HELP Required
Date Posted: 01 Jan 2005 at 1:24pm
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I am currently adding a few extra filters to a scan I am developing. What I would like to be able to do, is only look at stocks where the difference between +DI and the -DI is >= to say a value of 15...and possibly equal to or greater that the previous bar value. If you use the Directional Movement (All columns) Indicator and place the cursor on the indicator it actually shows the DI Difference for that bar in the info box. This is the figure I am wishing to use in the scan. Any help with creating this filter would be appreciated. Seahorse ------------- My Reality Check bounced 
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Replies:
Posted By: davkell
Date Posted: 02 Jan 2005 at 9:29pm
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Hey Seahorse....good question! I just had a good look but can't easily see how to include a scan where the difference of the two is greater than a number. I'm assuming your system is looking for when the DI+ and DI- have significant separation between them! Peter will hopefully answer your question, cause I'm curious now too. Whilst I have you.....any chance I could hear an insight into your Directional Movement approach to trading. I've just established my 'system' using the Directional Movement, and have created a scan for it that appears with initial testing to be very rewarding. I'm happy to compare 'notes' if you like as my development is a work in progress, and yet to be tested in real time with real money!!!
------------- "Trade Your Way To Financial Freedom." |
Posted By: Seahorse
Date Posted: 03 Jan 2005 at 4:28pm
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Greetings Davkell I am currently kicking around a couple of ideas for incorporating the Directional Movement as a filter in a scan. Probably the simpler of the two, would be to have a minimum value for the separation of the +DI and the -DI, with this separation being higher than the previous bar (ie increasing). This would then be confirmed by the ADX passing from below both +DI & -DI through a trigger line. Second, would possibly be, to create a moving average of the ADX and use this as a filter. Probably using a 21 period ADX and a 13 period EMA of the ADX. (I work with weekly data) My scan too, is a "work in progress" but I have to admit how easy and flexible BullScan is. My scan already has at least 8 filters, allowing me to rapidly drill down through my watchlist to find stocks that match my criteria. Regards Seahorse ------------- My Reality Check bounced
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Posted By: Peter
Date Posted: 04 Jan 2005 at 10:10am
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There's several ways of doing these kinds of criteria. The simplest way to do the first one is: First value: "Is an indicator", "Directional Movement" Press parameters and select Uses DI+ Condition: "Different by at least" Enter 15 in the box that appears to the right Second value: "Is an indicator", "Directional Movement" Press parameters and select Uses DI- Alternatively, you can access the diff value by using "Is an Indicator", "Directional Movement All Columns". Then press parameters and select Uses "DI Diff". Note however that this may make the scan slow because the all columns indicator is a bit slow to run. You could also calculate this with "Uses BullScript", "abs(pdi-mdi)". The abs means absolute value, which ensures that the result is never negative. So something like First value: "Uses BullScript" "abs(pdi-mdi)" Condition: "equal or greater than" Second value: "Uses BullScript" "abs(pdi-mdi)" of 1 day ago |
Posted By: davkell
Date Posted: 06 Jan 2005 at 12:42pm
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Hi Seahorse; I've been approaching the Directional Movement System by using the ADX when it increases by 4points preferable from below 15. DI- needs to be below 15 as well. I only trade Long if the stock is at or above a 2year high. I then use a dip to -100 on the Daily CCI to buy the retracements. Similar to Alexander Elder's Triple Screen approach. This is getting me into trending stocks that climb another 30-40% over 12months! Seems pretty good so far. ------------- "Trade Your Way To Financial Freedom." |