October 2023 - Page 3 of 4

McGinley Dynamic Indicator: A Smarter Moving Average for Traders

The McGinley Indicator aids traders by providing adaptive smoothing of price data, reducing lag during trends, and minimizing false signals during sideways markets; it assists in confirming trends and identifying potential entry and exit points, thereby enhancing the accuracy of trading decisions

1–2 minutes

The McGinley Dynamic Indicator is an adaptive moving average that helps traders filter noise, confirm trends, and improve timing for entries and exits. Unlike traditional moving averages, it reduces lag and minimizes false signals, making it a valuable tool for traders and investors.

Sentiment Indicators: Bullish Percent Index and Percent of Stocks above their own MAs Index

This post is about the demo videos related to Sentiment Indicators, specifically Bullish Percent Index and Percent of Stocks above their own MAs Index, and using them for charting in ChartAlert

1–2 minutes

The Bullish Percent Index (BPI) measures the percentage of stocks in an index that are on Point & Figure Buy Signals. It is a useful tool for gauging the overall strength and direction of the market, as well as identifying potential reversals and opportunities.

The Percent of Stocks above their own Moving Averages Index is a market breadth indicator (also a proxy for prevailing market sentiment) that is used to assess the overall health of a stock market or a particular sector within it. It helps traders and investors gauge the strength of the prevailing trend and identify potential turning points in the market.

Stock Screener – Example 18: Multiple Parameters Multiple Inputs; n-month Price Performance (“Set report type to…”)

This is an example of an optimized scan (n-month price performance) that demonstrates the enhanced “Set report type to…” function; it can also replace the need for writing several scans (as was required in the older versions of ChartAlert)

1–2 minutes

This functionality was introduced in October 2023 (Version 23.10.1)

Below is an illustration of an optimized scan that can be created using the Advanced Scanner in ChartAlert.

This one enhanced scan, wherein a parameter can now accept multiple values/ inputs for scanning, now replaces the need for writing atleast four separate scans as was required in the previous versions of ChartAlert.

ATTN: This scan is similar to an earlier scan (refer to Example 8: Multiple Parameters Multiple Inputs; Yearly Price Performance (“Set report type to…”)), with the exception of certain filters being applied and 3 month price performance being scanned.

[BEGIN 3moPP chg1%-chg2%]
Set OptVar chg1 = -90, 0, 25, 50
Set OptVar chg2 = 0, 25, 50, 1000

List symbols where 
Chg%(cl, cl 3 months ago) >= chg1
and Chg%(cl, cl 3 months ago) < chg2
and close > 100 
and volume > 100000
and trades > 1000

Add Column Chg%(cl, cl 3 months ago) as chg%
  Sort on Column chg% desc
Add Column volume
Add Column TRADES

Apply to NIFTYTOTAL
[END]

set reporttype to summary

Below is a breakdown of the scan presented in a step-by-step manner.

Stock Screener – Example 17: One Parameter Multiple Values (Noiseless Charts) (“Set chart type to…”)

This is an example of an optimized scan that demonstrates the enhanced (“Set chart type to…”) function; it can replace the need for writing several scans (as was required in the older versions of ChartAlert)

1–2 minutes

This functionality was introduced in October 2023 (Version 23.10.1)

Below is an illustration of an optimized scan that can be created using the Advanced Scanner in ChartAlert.

[BEGIN P&F Double Top Buy PercentValue%] 
Set OptVar PercentValue = 0.5, 1, 1.5, 2
List symbols where pattern is PF Double Top Buy
Add Column PFTOP
Add Column CandleClose
Set chart type to PF(PERCENTAGETYPE,PercentValue)
Apply to NIFTYTOTAL
Plot
[END]

[BEGIN P&F Double Bottom Sell PercentValue%]
Set OptVar PercentValue = 0.5, 1, 1.5, 2
List symbols where pattern is PF Double Bottom Sell
Add Column PFBOT
Add Column CandleClose
Set chart type to PF(PERCENTAGETYPE,PercentValue)
Apply to NIFTYTOTAL
Plot
[END]

Below is a breakdown of the scan presented in a step-by-step manner.

RRC Stock Screener – Example 12: Use raw RRC input functions to identify relatively stronger symbols with positive momentum

Sectoral Rotation, or Relative Rotational charts, are a powerful visual tool in assessing how different sectors compare in terms of their relative strength and momentum; it’s easier to spot stronger and weaker sectors, thus highlighting possible changes in market leadership and trends in asset performance

1–2 minutes

This functionality, pertaining to Relative Rotational Charts (RRC), was introduced in October 2023.

Month: October 2023

McGinley Dynamic Indicator: A Smarter Moving Average for Traders

Sentiment Indicators: Bullish Percent Index and Percent of Stocks above their own MAs Index

Stock Screener – Example 18: Multiple Parameters Multiple Inputs; n-month Price Performance (“Set report type to…”)

Stock Screener – Example 17: One Parameter Multiple Values (Noiseless Charts) (“Set chart type to…”)

RRC Stock Screener – Example 12: Use raw RRC input functions to identify relatively stronger symbols with positive momentum

RRC Stock Screener – Example 11: Moved away from quadrant Q1 in the last ‘n’ bars

RRC Stock Screener – Example 10: Transitioning from Q1 to Q2 in the last ‘n’ bars

RRC Stock Screener – Example 9: In a particular quadrant for the last ‘n’ bars

RRC Stock Screener – Example 8: Present in a particular quadrant with NIFTY500 as the underlying benchmark Index

RRC Stock Screener – Example 7: Group symbols present in a particular quadrant by their RRC status