This is a trading item or a component that was created using QuantShare by one of our members.
This item can be downloaded and used by QuantShare Trading Software.
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This screen looks for stocks that have the highest increase in price and volume over a period of 10 bars. It uses the composite function to calculate the percentile value of the close price increase (using the rate of change trading indicator) and the percentile value of the volume increase (using the ratio of the simple moving average of the volume for last 10 days to the simple moving average of the volume for the last 50 days) compared to other stocks in the analyzed list of symbols.
Once the close price and volume percentile values have been calculated the screener displays these values as well as a score that simply averages these percentile numbers. The highest score corresponds to the stock that had the highest combination of price and volume increase of all stocks analyzed by the screen.
This trading screen contains also a filter rule that ignore stocks which a close price below two dollars. This filter is also included in both composite functions so that these low priced stocks (and penny stocks) are not accounted in the composite calculation process.
The first line of the screen formula contains the lookback period value. It is used when computing the rate of change and simple moving average and it can be changed to any value you think is more suitable. You can also assign different weights to the close price and volume composites simply by changing the last argument of the "Score" column function. Currently the score results from the average composite values and therefore the close and volume composites have the same weight.
Trading financial instruments, including foreign exchange on margin, carries a high level of risk and is not suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in financial instruments or foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with trading and seek advice from an independent financial advisor if you have any doubts.
