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OBV Exploration
obv formula
To: metastock-list@xxxxxxxxxxxxx
Subject: obv formula
From: surfingrincon@xxxxxxxx (jeff f brady)
Date: Mon, 28 Apr 1997 23:43:15 PST
Resent-Date: Tue, 29 Apr 1997 18:28:51 -0600
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hi group,

I am trying to come up with a explorations that finds a security laggingbehind its (on balance volume). I am using daily data. This would indicate that more buying volume is coming in to the security then selling volumes and that the security should eventually break to the upside.

This is what I have come up with so far: any comments/ suggestions?

 


OBV Exploration

col a:
obv()

col b:
ref(hhv(obv(),25),-1)

col c:
c

col d:
(ref(hhv(c,65,-1))*(.75)

flitr:
when(cola,>,colb) and when(colc,<,cold) and when(c,>mov(c,50,e))

 

 
Its not turning up all lot of prospects, as a matter of fact I believe compact (cpq) is the kind of security/obv relationship I am looking for but my exploration does not tag it as a candidate.

The exploration is looking for a OBV reading today that is greater than any obv in the last 25 days.

The close today is less than the highest close in the last 65 days times75%. So the close today is less than 75% of the greatest high in thelast 65 days. Why? If I ran the exploration to find a close todaylower than the lowest close in the last 65 days I was coming up with downtrendingstocks that seemed to be real dogs. Why 25 days on the obv and 65 on thesecurity? I am trying to emulate a recent pattern in compact computers.

I also added in that the close today should be above its 50 day moving average. hopefully this finds candidates that are in an uptrend rather than a downtrend.

I have yet to system test it on any securities, hopefully some time thisweek.

As a side, looks like 1200 is key support on the NASD, if it breaks it could get ugly! (my opinion any way.)

JB

 
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