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Originally posted by theHook
Here is a cute video on Beta:
http://www.investopedia.com/video/play/understanding-beta#axzz1mrC08wA4[/quote]

A great refresher; thanks!

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Originally posted by tachyonv
Updated the first post in this thread still more, to try and make the symbol selection clearer. Been doing this too long, its too easy for me to fail to explain clearly enough for others. My bad.

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Originally posted by binthere
Hook,
here comes a newbie question, how did u make the tradable indy to show in radar?, what did u modify?
thx, binthere

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Originally posted by binthere
could you explain what should be changed to make it work in scan so i could learn and not bother in the future? :)
when i open a new indicator under development enviroment it doesn't give a option to make indicator available on scan
thx, binthere

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Originally posted by theHook
I agree with tachyonv it is easy to get to those numbers or 10 round trips for futures but when you don't
use TS as your broker it a bit different.

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// Indicator: KJDTimeAvgLow 
//this calculates the average time of the low of the morning, for all dates in the chart   
//use this with 5 minute bars   
//assumes the chart is in Eastern time   
 
//Kevin J. Davey  <a href="mailto:kdavey@kjtradingsystems.com">kdavey@kjtradingsystems.com</a>    
//Version 1.0   
//Feb 17, 2012   
 
// Modified by Walt W. Hooker 2/17/2012 Added Plot  
// Modified by ant___ 2/20/2012 Added Earliest/Latest LODT Plots  
 
Inputs:  
	LowFactor(.20), 			// distance below low on bar when low average time is indicated.   
	PrintLog(False);			// true will print EL Output Log	  
  	 
vars: 
	lowtoday(99999.), 
	double lowtodaytime(0),  
	numberofdays(1), 
	SumLowTodayTime(0),   
	lowOfDaytime(0),  
	printToday(false), 
	Earliest_LODT(0), 
	Latest_LODT(0);   
   
If 	date<>date[1] then begin   
	lowOfDayTime = MinutesToTime(SumLowtodayTime/NumberofDays); 
	Earliest_LODT = Lowest(lowOfDayTime, NumberofDays);	///Latest LODT Calcs over NumberofDays/// 
	Latest_LODT = Highest(lowOfDayTime, NumberofDays); 	///Latest LODT Calcs over NumberofDays/// 
	lowtoday=99999.;   
	lowtodaytime=0;  //minutes since midnight for the time of the low   
	numberofdays=numberofdays+1;   
	printToday = false;  
end;   
   
if 	time <=1200 then begin   
	if low<lowtoday then begin   
		lowtoday=low;   
		lowtodaytime=TimeToMinutes(time);   
	end;   
end;   
   
//at 12:05, add the lowtodaytime in to SumlowTodayTime   
var:bl("	");   
   
if time = 1205 then begin  
	SumLowTodayTime=SumLowTodayTime+lowtodaytime;   
	print(date,bl,lowtodaytime,bl,numberofdays); //to debug   
end;   
  
if 	lastbaronchart and  
	printToday = false and  
	PrintLog then  
		begin   
			print(symbolname," On average, low occurs at ", lowOfDayTime);  
			print(symbolname, " Earliest LODT is ", Earliest_LODT, " averaged over last ", NumberofDays, " days.");	///Earliest LODT Plots/// 
			print(symbolname, " Latest LODT is ", Latest_LODT,   " averaged over last ", NumberofDays, " days.");	///Latest LODT Plots/// 
			printToday = true;  
		end;  
  
if 	time >= lowOfDayTime and  
	time[1] < lowOfDayTime then   
		Plot1(low - LowFactor, "LODT", white, default, 5);   
 
///Earliest/Latest LODT Plots/// 
if 	time >= Earliest_LODT and  
	time[1] < Earliest_LODT then   
		Plot10(low - (LowFactor + 0.40), "E_LODT", white, default, 5); 
		 
if 	time >= Latest_LODT and  
	time[1] < Latest_LODT then   
		Plot11(low - (LowFactor + 0.80), "L_LODT", white, default, 5);   

select all

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Originally posted by ant___
theHook,
Where'd u get the screenshot drawing tools?
Cool!

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Originally posted by tachyonv
Appears we've enough trading this that there are some fill challenges this morning. Not unexpected.

Nice ALXN trade, theHook, hope it was real and not just simulation.

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Originally posted by tachyonv
Explanation of Beta from SmartMoney:

HOW MUCH volatility can you expect from a given stock? That's well worth knowing if you want to avoid being shocked into panic selling after buying it. Some stocks trend upward with all the consistency of a firefly. Others are much more steady. Beta is what academics call the calculation used to quantify that volatility.

The beta figure compares the stock's volatility to that of the S&P 500 index using the returns over the past five years. If a stock has a beta of 1, for instance, it means that over the past 60 months its price has gained 10% every time the S&P 500 has moved up 10%. It has also declined 10% on average when the S&P declines the same amount. In other words, the price tends to move in synch with the S&P, and it is considered a relatively steady stock.

The more risky a stock is, the more its beta moves upward. A figure of 2.5 means a gain or loss of 25% every time the S&P gains or loses just 10%. Likewise, a beta of 0.7 means the stock moves just 7% when the index moves in either direction. A low-beta stock will protect you in a general downturn, a high Beta means the potential for outsize rewards in an upturn.

That's how it is supposed to work, anyway. Unfortunately, past behavior offers no guarantees about the future. If a company's prospects change for better or worse, then its beta is likely change, too. So use the figure as a guide to a stock's tendencies, not as a crystal ball.

- - -

Purpose of filtering with beta in this method is to be able to trade long relatively safely even on a day when the DOW30 is down 125 points.

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Originally posted by tachyonv
theHook, I never worry about trading. Do I watch the UKC? Yes.

Nice trade, ant, hope it was real money! Never regret a profitable trade once out, even if it goes higher after you exit.

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