Traders' Tips from TASC Magazine

Holding Overnight Positions

Anthony Trongone's, "Holding Overnight Positions" defines 4 conditions which, paired up, will indicate a greater chance of a successful overnight trade. MetaStock can scan for theses conditions, over a group of securities, and report those making the appropriate pairings. This is done with an exploration.

To create this exploration, in MetaStock, go to Tools and select the Explorer. Click New and enter a name ("Rising Darkness"). Then enter the following formulas in the corresponding tabs:

Rising Darkness

COLUMN FORMULAS

ColumnA: 30 dn V

mav:=Mov(V,8,S);
vr:=(mav-Ref(mav,-1))/Ref(mav,-1);
volrank:=LastValue((Cum(vr>LastValue(vr)) / Cum(IsDefined(vr)))*100);
volrank >= 70

ColumnB: 30 up V

mav:=Mov(V,8,S);
vr:=(mav-Ref(mav,-1))/Ref(mav,-1);
volrank:=LastValue((Cum(vr>LastValue(vr)) / Cum(IsDefined(vr)))*100);
volrank <= 30

ColumnC: up price

ROC(C,1,%)>1

ColumnD: dn price

ROC(C,1,%)<-1

FILTER

Formula:

(colA OR colB) AND (colC OR colD)

William Golson
Equis International

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Traders' Tips from TASC Magazine

Holding Overnight Positions

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