J B Volatility Profit taker

Hey brentjedi,
Yeh look I know what you mean about the profit take. I either close out on the profit take or just ride it until the trade is stopped out by 2 consecutive closes below the trailing stop.

But I have closed out trades from the profit take that continue to rocket and I have held on to trades after the profit take signal that just fell away.
Neither way is perfect and I tend to judge each trade individually as to which action I will take depending on candle patterns, volume etc. Was it a big move that hit the profit take, then I tend to close it. Or was it small moves that triggered the profit, then I tend to hang on. Maybe your stop is a good idea.

As to shorting below is the code,

al:= input ("ATR Length",10,1);
am:= input ("ATR Multiplier",2,0);
use15 := input("Combine with P15 1=yes, 0=no",1, 0, 1);

[name=JBPT; color=Orange]
pt := ma(L,13,E) - am*ATR(al);
pt;

[name=Stop; color=Black]
ts :=llv(C+2*ATR(al),if(use15,15,1));
ts;

[name=fed; color=Red]
fd :=hhv(H,20)-2*atr(10);
fd;

entry := cross((hhv(H,20)-2*atr(10)),C);
takeprofit := cross(pt,C);
[name=Start; linestyle=marker; marker=type2; tooltip="Volatility Start"]
entry;

[name=JBPT; linestyle=marker; marker=type1]
takeprofit;

Note that I am still experimenting with the RSI criteria for overbought. At the moment I am putting an extra horizontal line at 65 on the RSI (C,7) chart as being overbought enough to allow me to take a short position once the start flag is signaled.
Also remember the share must be in a falling trend. ie the 34 week EMA must be less than the 34 EMA of 5 weeks ago.
Also note that although I included the profit take flag I tend not to use it. And also that it is triggered when price closes below Profit Take and does not appear again until price has move above the profit take. But as I said I rarely use it and prefer on shorts to just ride them until the trade is stopped out by 2 consecutive closes above the trailing stop.
Best of luck everyone, Happy Shorting, Merry Christmas and Happy New Year.
The Ferret

Dear Bentjedi,
Sorry about that, there is one line of code missing at the front. But use this whole lot here, it has the entry line in purple as well which is easier on the eye.

[target=Price]
al:= input ("ATR Length",10,1);
am:= input ("ATR Multiplier",2,0);
use15 := input("Combine with P15 1=yes, 0=no",1, 0, 1);

[name=JBPT; color=Orange]
pt := ma(L,13,E) - am*ATR(al);
pt;

[name=Stop; color=Black]
ts :=llv(C+2*ATR(al),if(use15,15,1));
ts;

[name=fed; color=Dark Orchid]
fd :=hhv(H,20)-2*atr(10);
fd;

entry := cross((hhv(H,20)-2*atr(10)),C);
takeprofit := cross(pt,C);
[name=Start; linestyle=marker; marker=type2; tooltip="Volatility Start"]
entry;

[name=JBPT; linestyle=marker; marker=type1]
takeprofit;

In regards to shorting I actually find I choose a lot of my short positions using the Alan "Hull Actvest Range - Indicator" on daily chart overlayed with the Guppy MMA  and the Actvest ROAD in the window above.
Regards The Ferret

Hi, Brentjedi,
Had a busy couple of weeks so no time to reply.
Yes the 34MA compared to 34MA of 5 weeks ago is a pre made scan.
It is called "JB Rising Trend".

In regards to locating when the price closes above the purple entry line, I edited the JB Volatility Profit Taker Scan which as it stands by default only locates when to take profit, not when to enter.(pretty useless if you ask me, as you'd be watching your own shares closely anyway).

By default it looks like this:


To locate the Ferret Entry points you need to change it so it looks like this:


First click once on  "close is > than JBVPT" line, then "DELETE" button.
Then double click on "close is between 0.2 and 100" and change the comparison to "Greater than". Then OK. (this lets you pick up shares like RIO)

Next click the NEW button to add the all important line.
Category......"Uses Bullscript"
Where it says H+L/2 replace this with
cross(C,(llv(L,20)+2*atr(10)))
Type of Comparison "is true"
Then click OK button
Your window should now look like the one above.
This scan will find all of your entry ferret points.

Now before you add this next bit please read the last paragraph or save what you have as this is a good scan. If you want to add the macd scan to it save what you have done and then create a copy of it and rename it as another scan name.

In regards to including a search that also finds when the macd(12,26,9) crosses up, you will need to add another NEW line with the new button.
Again Category "Uses Bullscript"
Where it says H+L/2  CLICK the Editor button
and replace H+L/2 with this:
n1 := 12;
n2 := 26;
ns := 9;

r1 := 2/(n1+1);
r2 := 2/(n2+1);
ma12 := C*r1 + previous(C)*(1-r1);
ma26 := C*r2 + previous(C)*(1-r2);
res := wait(ma12 - ma26,25);
signal := ma(res,ns,E);

cross(res,signal)

Click OK
Then type of Comparison "is TRUE"

And there you have it. As to whether you will get any joy from entries using this combination of indicators, I have my doubts.

As I have said before the JB entry indicator works only if an oversold signal is also present on the RSI(C,7).
What I do is
1. Scan for the ferret entry
2. Scan those scan results with the JB rising scan.( you can do this by selecting securities in the JB rising scan of "Last Scan Results")
3. Scan these results with the premade JB RSI 7 scan. ( you can do this by selecting securities in the JB RSI 7 of "Last Scan Results")
that should narrow things down a bit.
4.But remember the Sector should also be in a rising trend.

Although You may not find much in the current market and I personally am only Short at the moment.

Good Trading
The Ferret.




Edited by TheFerret

Dear Brentjedi,
After writing that post I realised that there is an easier way to do it than what I did.When you add a new line to your scan choose a category of "Is an indicator signal" and then search in the list below for your indicator, In my case it is called "Mitchs JB volatility Entry Only".
The parameter button lets you choose the flag(start ,stop, above ,below...)
Set Type of comparison is true.

You can do the same for the macd.
Anyway what I sent you still works even if it is more complicated.

In regards to the Actvest Guppy setup, first let me say that I am an Actvest subscriber. The main reason for this is because the newsletter gives me a weekly list of Fundamentally Sound and Fundamentally Unsound Equities which have been generated by StockDocter and I use these as a basis for scans for Long and Short Trades respectively. This is a lot cheaper than subscribing to Stock Doctor.
Anyway I have found that using the JB short scan although I use it does not pick up some opportunities that an Actvest Gmma Graph shows me.
Example

You have to search for the "Hull Actvest Range - Indicator" and "Hull Actvest ROAD" to create a Shorting Actvest Template like this then add the Guppy GMMA over the top of it.
Here WTP is on the Actvest list and the Short Term Gmma have retraced back to the LTGMMA rolled back down, and then started to spread.While the price is still in the Actvest Short Zone.
The chart without the GMMA does not seem as revealing to me.


Guppys Trend Trading Book is a good place to start for GMMA analysis as is his weekly newsletter.
I also look at Hull Actvest Range + Indicator with the GMMA overlaid for my longs.
The JBshort code should be working maybe you have accidently overwritten something. Try recoding it again.
Also I don't use that JBRSI 7 scan as I said in the last post because when you are searching for a JB  Long and you get a Start signal, At that time the RSI usually is not oversold but it is important that it has recently been oversold.
So what I actually do is use steps 1 and 2 as I stated and then visually scan these results looking for a recently over sold condition.

Regards
TheFerret


Edited by TheFerret

Maximo

thanks for sharing, can you run us through the buy and sell signals, or is it just sell under green line and buy over red?

will try it and see how it goes

Question - too you and Sir ferret, do you  use Tradesim?

Cheers

Brentjedi