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What's New
%B Indicator
The Bollinger Bands %B indicator has been added to the product. Bollinger Bands %B is an indicator derived from the standard Bollinger Bands indicator. The creator of Bollinger Bands, John Bollinger, introduced %B in 2010 almost 3 decades after the introduction of his Bollinger Bands. If the price has moved up to the upper Bollinger band, this indicator will be near the value "1". And vice versa, it will be near zero when the price is near the lower band. In cases where price moves further away from the limits of the Bollinger band, it will have values higher than 1 or lower than zero:
%B = (Price - Lower Band) / (Upper Band - Lower Band)
The higher the indicator is, the more we can consider that the instrument is overbought and that its price may fall in the short term. The lower the indicator is, the more likely will be oversold and its price may go up in the short term. In the Formula Screener you can use pb(20,2) for the %B indicator line.
Connors RSI Indicator
The CRSI indicator (Connors RSI) has been added to the product. Connors RSI is a technical analysis indicator created by Larry Connors that is actually a composite of three separate components. It represents a new way to calculate Relative Strength that combines Classic (Wilder`s) RSI with two additional indicators. In the case of Classic RSI, many of the extreme "oversold" points offer good reversal opportunities, but we can also see that many of them are not generated at optimal entry points. By contrast, the Connors RSI generates extreme oversold levels much less frequently, resulting in fewer, better trading opportunities.
The Dobermans Of The Dow strategy
The Dobermans Of The Dow strategy has been added to the list of popular trading strategies. This strategy is a slightly modified version of the Dobermans of the Dow strategy introduced by Michael Cannivet in Forbes magazine in 2019. Unlike the original strategy, we do not rank the components of the DJIA index by ROE (Return On Equity) and FCF (Free Cash Flow), but set the filtering criteria so that the stocks have ROE and FCF above the threshold values. Next, we rank the selected stocks by FCF in descending order and take the top ten. To do this, we use the Prioritize Stocks by parameter and limit the portfolio size to 10 positions. Conditions for closing a position are not set, but the portfolio is rebalanced annually.
TRIX Indicator
The TRIX indicator (Triple Exponential Average) has been added to the product. TRIX is a momentum indicator that displays the percent rate-of-change of a triple exponentially smoothed moving average of the security`s closing price. It is designed to keep you in trends equal to or shorter than the number of periods you specify. The TRIX indicator oscillates around a zero line. Its triple exponential smoothing is designed to filter out `insignificant` cycles (i.e., those that are shorter than the number of periods you specify). Trades should be placed when the indicator changes direction (i.e., buy when it turns up and sell when it turns down). You may want to plot a 9-period moving average of the TRIX to create a signal line (similar to the MACD indicator, and then buy when the TRIX rises above its signal, and sell when it falls below its signal. Divergences between the security and the TRIX can also help identify turning points. The indicator has two parameters, the first is the period for calculating the TRIX line and the second is the smoothing period for calculating the signal line. In the Formula Screener you can use trix(14,9) for the TRIX indicator line and trixs(14,9) for the TRIX signal line. For example, a crossover condition might look like this: trix(14,9) ca trixs(14,9)
Popular Trading Strategies
The Strategy Backtest section now has a list of popular trading strategies. At the moment, it includes such strategies as: The Friday Gold Rush, Turnaround Tuesday, Larry Connors RSI-2, Ichimoku Kinko Hyo, and Dogs of the Dow. All strategies have shown good results over the last 20 years. Backtest results and statistics for each strategy are updated daily. You can copy any strategy by clicking Create a Copy on the backtest report page. In this case, a copy will be added to your strategies list.
Backtester improvement
Now it is possible to set criteria for opening and closing a position using a formula expression. This can be done by selecting the Set by a formula expression option and clicking the Set button to enter the formula in the strategy building tool. Previously, this could only be done by selecting a formula screen as a criterion for opening or closing a position, which was inconvenient since it required creating the formula screen in advance. Now a faster way has appeared and at the moment the criteria can be set: using the criteria builder, using a formula expression and through the criteria of the previously saved stock screen.
Formula expression: ticker function
In order to run the formula stock screener on a custom stock list, you need to specify the name of the watch list in brackets in the formula. To do this, you must first create such a list in the Watch List tool. This is not always convenient since you need to leave the formula screen editing page. Now you can use the ticker function with the names of the stocks you need as parameters, for example: ticker(fb,aapl,amzn,nflx,goog). This can be especially useful if you want to use this formula in backtesting, that is, test your trading strategy on one or more stocks. You can view all the functions supported in the formula expression on the Formula Screener help page.
A new type of strategy optimization
A new type of strategy optimization Position Maintenance has been added to the Optimization tab of the Backtester tool. This will help you to find the best position maintenance options for your trading strategy. Two types of optimization are currently available: Top Performers and Position Maintenance. You can switch to the type you need by selecting the appropriate item in the Optimization Type field.
New stock exchanges added
Canadian Securities Exchange (CSE) and Shanghai Stock Exchange (SHSE) have been added to the product. For them, all the same functionality is available as for other exchanges. To screen these exchanges, select the appropriate items in the Stock Universe criteria category of the Stock Screener tool.
Access to a trading position in the backtesting tool
As you know, a formula expression can be used as a criteria for closing a position in the Strategy Backtest tool. This can be done by ticking the Extract criteria from screen option and selecting the appropriate formula screen. Now in this formula, you can get the value of the price at which the position was opened using the posprice literal. You can find some examples of using this literal on the Formula Screener help page.
Linear Regression Channel Indicator
The Linear Regression Channel indicator (LRC) has been added to the product. This indicator plots a linear regression line and two other lines that are a specified standard deviation away. The indicator has two parameters. The first parameter is the number of bars to use in the calculation, and the second parameter is the number of standard deviations to use to draw the channel above and below the Linear Regression Line. The Linear Regression Channel indicator is typically used to analyze the upper and lower limits of an existing trend. It helps traders to find optimal entry and exit points during price tendencies on the chart. You can find LRC criteria in the "Line Studies" - "Price" category of the Stock Screener tool. For example, a condition for a price to cross a linear regression line would read Price Crossed Above Middle Line of LRC(100,2). Of course, you can also use the linear regression channel lines in a formula expression.

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