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VTX (Vortex): Scan for unusual movements

RACloseRAClose ✭
in Using Technical Analysis
Trying to write a scan were:
1) the -V runs parallel with +V ( or vise versa )
2) where the -V runs UP when the price of the stock also runs UP.
3) a scan where the -V runs horizontally but the +V turns upward for a day or two.

Purpose: I've seem some unusual movements over the last year where the VTX acts outside its norm and I'd like to find such stocks and study in detail their histories.
Thanks.
PS, if anyone has some helpful info as to why this happens and what usually is the future play of these weird movements, your sharing would be appreciated

Comments

  • markdmarkd mod
    The scan engine language is intended mainly to find discrete events - signals like MA crossovers, or indicators like RSI crossing 70 or 30, or MACD Line crossing MACD Signal, and so on. It CAN find patterns, but the specificity required by the language makes it hard to find patterns, which tend to be fuzzy. No matter what you write, you will miss some things your eye would say fit the pattern, and you will get some things that don't fit the pattern.

    For example, if you are looking for a flag pattern, the flag might be four bars, or five bars or ten bars. It might retrace 10 % or 30 % of prior leg - which itself could also be almost any length. But some flags will be 12 bars, or retrace 31% and your scan will miss those. So, you could write a very complex scan to account for many possibilities, and still miss some flags while getting hits on things that aren't really flags.

    If you want to take a shot at your pattern, here are a few notes:

    If two lines run parallel, then the distance between them is constant. +V and -V wouldn't ever run exactly parallel, but probably they could stay within a range for some number of bars. So your scan would have to specify that range and test for it at several points. So you would be using a lot of "x days ago" and "y days ago" modifiers to compare +V and -V to each other.

    Running horizontal is a similar test; x days ago value is less that some per cent of y days ago, e.g. x days ago -V < y days ago -V * 1.1, and greater than some other per cent, like x days ago -V > y days ago -V * .99.

    For prices running up, you could use the StreakUp function (put StreakUp into the search window).
  • lmkwinlmkwin ✭✭
    @RAClose

    Are you trying to identify something like QTWO showed in Nov/Dec 2018?




  • RACloseRAClose ✭
    Sincere thanks Markd and Imkwin for your timely replies, believe it or not I understood most of your explanations Markd :). The type of situation I'm referring can be found with $TRIL and a few others. This week (Blue circle area) both the - and + ran together. The red circle shows the short parallel run. I'm aware that these lines are the result of mathematical computations but in my mind the two lines are emnities against each other and yet sometimes they run together instead of being in opposition. I'm also trying to determine if there are any relationship to these type of patterns and near future price activity.

    Thanks again.
  • RACloseRAClose ✭
    Great, I seem to be ignorant on how to put a chart on this forum. :( Sorry, I will post it when I figure it out.
  • lmkwinlmkwin ✭✭
    I just Right Click on the Chart and Copy. Right Click in the message box and Paste.
  • markdmarkd mod
    Here's a link to the Chart School Vortex Indicator article:

    https://school.stockcharts.com/doku.php?id=technical_indicators:vortex_indicator

    About halfway down, the BAX example shows +/- running together when the stock is in a flag pattern - apparently the up and down days cancel each other out (see the indicator formula explained at the top of the article). I gather it wouldn't have to be a flag - just anytime there is a lot of overlap in range and up and down closes that cancel each other out.

  • RACloseRAClose ✭
    Imkwin, I tried everything, including the copy and paste. In the annotated view I had to use the 'save as' on the tile bar, the chart reopened and I was then able to copy and paste. (Was told its a windows 10 issue because it won't save the 'picture' because it doesn't recognize in and doesn't load in cache.) Lets see if this works.




  • RACloseRAClose ✭
    edited January 2020
    Markd: A sincere thank you for your link. It doesn't however cover what were speaking about here, also I noticed it said that " The Vortex Indicator is either above or below these levels, which means it always has a clear bullish or bearish bias." That leads to another thing I've noticed, I have seen BOTH + and - being above or below the 1.0 line at the same time. It doesn't happen often, but this week $GNPX has both +/- below 0.03. The stock ran BIG from 36 cents to $2 in two days! This is why I star at charts and try to learn the deeper secrets. Thanks again everyone.
  • markdmarkd mod
    Well, if you are really curious, you can download the data from the link under the chart (or copy it) and plug it into the formula from the article. That will tell exactly which days are responsible for which changes in the plot.

    Actually, if you look closely, there are quite a number of instance where + and - move in the same direction on the same bar.
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