|Moving Average of the OBV|
|Simple and Exponential Moving Averages of the OBV have been added to the product.
On Balance Volume (OBV) was developed by Joe Granville and originally presented in his book New Strategy of Daily Stock Market Timing for Maximum Profits.
On Balance Volume is a running total of volume. It shows if the volume is flowing into or out of a security. When the security closes higher than the previous close, all of the day's volume
is considered up-volume. When the security closes lower than the previous close, all of the day's volume is considered down-volume. The basic assumption, regarding OBV analysis, is that OBV
changes precede price changes. The theory is that smart money can be seen flowing into the security by a rising OBV. When the public then moves into the security, both the security and the OBV
will surge ahead.|
The use of OBV, combined with moving averages, helps traders identify changes in the trend.
You can add OBV and its simple or exponential moving average crossover condition in the Formula Screener tool.
For example, obv ca smaobv(20) expression reads as "OBV crossed above its 20-period simple moving average" or obv cb emaobv(20) reads as "OBV crossed below its 20-period
exponential moving average". You can also add a condition that detects whether the OBV is above or below the moving average, for example, obv > emaobv(20).
|The Advance/Decline Ratio indicator
has been added to the product. The Advance / Decline Ratio is a popular market breadth indicator that shows the ratio of advancing issues to declining issues. It is calculated by dividing the number of
advancing issues by the number of declining issues. A moving average of the Advance / Decline Ratio is often used as an overbought/oversold indicator.
The higher the value, the more "excessive" the rally and the more likely a correction. Likewise, low readings imply an oversold market and suggest a technical rally.|
|Now charts can be from tiny to huge in size|
|You can select the size of the chart so that it better fits your screen. You can do this not only on the
Stock Chart page but also on the Stock Screener
results page when switching to the Charts view. You can also scale charts up or down using the corresponding Zoom option. In this case, the size of the chart does not change,
but the graphic elements in it increase or decrease. In the first case, you will better see the details of price bars and technical indicators. In the second case, you can see an overview
of the price movement over the last decade.|
|Perhaps you have already noticed the fonts on the site have become larger for a better perception of information.
Instead of the tiny Arial, which was hard to perceive even on a large monitor, the Lato enlarged font replaced it.
Lato is a sans serif typeface family that started in the summer of 2010 by Warsaw-based designer Lukasz Dziedzic ("Lato" means "Summer" in Polish).
He used classical proportions to give the letterforms familiar harmony and elegance. The semi-rounded details of the letters give Lato a feeling of warmth,
while the strong structure provides stability and seriousness. Thanks, Lukasz, for the awesome font!|
|Strategy Backtester enhancement|
|The Strategy Backtester tool now allows you to specify a model for closing a position.
Previously, exiting positions in all strategy tests was performed at closing prices, when the criteria for closing a position were met. That is, the "Close Prices" model was used.
The newly added "Next Day Open" model allows you to postpone closing a position until the next day/bar opens. When this model is selected,
the criteria for closing a position is still checked at the end of the trading day, but closing the position is performed at the opening price of the next day.
It should be noted that this model is activated if the criteria for closing a position are specified. Otherwise, exiting positions will be performed at closing prices.|
|Changes in industry classification|
|The classification of industries used in the stock screening tools on the website has been changed to comply with the Global Industry Classification Standard (GICS).
Please review your stock screens that use a sector or industry screening criteria and make the appropriate changes. The list of new sectors and industries, as well as a mapping table between
old and new industries, can be viewed on this page. Stock screens that use a sector or industry criteria could
not be automatically converted and therefore require your attention.|
|Portfolio Tracker enhancements|
|The Portfolio Tracker tool now includes performance metrics and
charts that allow you to visualize the current status of your trading portfolio. There is no multicurrency support in the tool yet,
and if your portfolio includes trading instruments in different currencies, then statistics on this portfolio will not work correctly.
In this case, it is recommended to create separate trading portfolios for assets of different currencies.
Along with adding statistics, the tool now also allows partial closing of a position.|
|Formula expression: STOPAT function|
|This function will be useful to those who develop and test their trading strategies in the Backtester tool.
It instructs the trading simulator to move the stop loss level to the specified value. As a parameter, you can specify an indicator, function, or another formula expression that returns
a numerical value. For example: stopat(psar(0.02,0.2)), stopat(ema(7)), stopat(lowest(21)). If the expression for closing a position has already been set, then the function must be added
using the or operator, for example, your_formula_for_closing_a_position_here or stopat(psar(0.02,0.2)). You can have only one stopat function in your formula.
Please note that the stopat function is applied with a one day/bar delay. That is, stop loss is calculated on the current day/bar but will be applied on the next day/bar.|
|Formula expression: TAKEAT function|
|This function will be useful to those who develop and test their trading strategies in the Backtester tool.
It instructs the trading simulator to move the take profit level to the specified value. As a parameter, you can specify an indicator, function, or another formula expression that
returns a numerical value. For example: takeat(bbub(20,2)), takeat(1.5 * ema(50)), takeat(highest(21)). If the expression for closing a position has already been set, then the function must
be added using the or operator, for example: your_formula_for_closing_a_position_here or takeat(bbub(20,2)). You can have only one takeat function in your formula.
Please note that the takeat function is applied with a one day/bar delay. That is, take profit is calculated on the current day/bar but will be applied on the next day/bar.|
|SMI Ergodic Indicator|
|The SMIE indicator (SMI Ergodic) has been added to the product. The SMI Ergodic Indicator is the same as the True Strength Index (TSI) developed by William Blau,
except the SMI Ergodic includes a signal line. The SMI uses double moving averages of price minus previous price over 2-time frames. The signal line, which is an EMA of the SMI, is plotted to help
trigger trading signals. If the SMI crosses below the signal line, a sell signal will be generated. Conversely, if the SMI crosses above the signal line, a buy signal will be given.|
|Formula expression: SHOW function|
|This function allows you to add custom columns to the Stock Screener results page. These may be the values of technical or financial indicators or other metrics
available for use in formula expression. The necessary columns should be listed in the function parameters, for example, show(ema(100), rsi(14), eps). Columns will be added to the
right of the standard columns of the stock screen and display the corresponding values for each ticker. Technical indicators listed in the show function will also be plotted
on charts that are opened from the stock screen and on mini charts when switching to the "Charts" view. The pattern for using the show function is as follows:
your_formula_expression_is_here and show(rsi(14)).|
|Formula expression: DRAW function|
|The draw function allows you to add the necessary technical indicators to the chart.
Technical indicators listed in the draw function will be plotted on charts that are opened from the Stock Screener results page
and on mini charts when switching to the "Charts" view.
The pattern for using the draw function is as follows: your_formula_expression_is_here and draw(rsi(14)).|
|Formula expression: HIST function|
|Previously, the historical screening option was available only in the regular Stock Screener tool.
Now it is also possible in the formula stock screener
using the hist function.
This function instructs the stock screener to switch to historical screening. The screener will select stocks that match the formula
expression as of the specified date. The date should be indicated in a short date format: month/day/year.
The pattern for using the hist function is as follows: your_formula_expression_is_here and hist(7/31/2019).|
|Formula expression: SORTBY function|
|In some cases, it may be necessary to sort the stock screener results by technical indicator, financial metric, or another parameter, while it may not be in the set of
standard columns of a stock screen. In this case, you can use the sortby function in the formula expression, specifying the sort parameter in it, the sort direction asc (ascending)
or desc (descending), and, if necessary, the number of top records that need to be selected after sorting. For example, sortby(rsi(3), asc) will sort the stocks by the RSI indicator
value in ascending order or sortby(dvd_yield, desc, 10) will sort the stocks by dividend yield in descending order and take only the top 10. In the first example, we could simply write
sortby(rsi(3)) since the ascending order will be used by default. The pattern for using the sortby function is as follows: your_formula_expression_is_here and sortby(rsi(3)).
This function can also be used in the Strategy Backtest tool to set more flexible prioritization when adding stocks to the trading portfolio. In this case, the criteria for opening a
position should be set using a formula expression. You can view all the functions supported in the formula expression on the Formula Screener
|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 three 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 one 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 it 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.|
|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.|
|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 the Shanghai Stock Exchange (SHSE) have been added to the product.
The same functionality is available for them 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 criterion 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.|