METASTOCK: HOLDING OVERNIGHT POSITIONS

Anthony Trongone's "Holding Overnight Positions" defines four conditions which, paired up, will indicate a greater chance of a successful overnight trade. MetaStock can scan for these conditions over a group of securities, and report those making the appropriate pairings. This is done with an exploration.

To create this exploration, in MetaStock, go to Tools and select the Explorer. Click "New" and enter a name ("Rising Darkness"). Then enter the following formulas in the corresponding tabs:
 

Rising Darkness
     COLUMN FORMULAS
         ColumnA: 30 dn V
             mav:=Mov(V,8,S);
             vr:=(mav-Ref(mav,-1))/Ref(mav,-1);
             volrank:=LastValue((Cum(vr>LastValue(vr))/Cum(IsDefined(vr)))*100);
             volrank >= 70
 
         ColumnB: 30 up V
             mav:=Mov(V,8,S);
             vr:=(mav-Ref(mav,-1))/Ref(mav,-1);
             volrank:=LastValue((Cum(vr>LastValue(vr))/Cum(IsDefined(vr)))*100);
             volrank <= 30
 
         ColumnC: up price
             ROC(C,1,%)>1
 
         ColumnD: dn price
             ROC(C,1,%)<-1
 
     FILTER
         Formula:
             (colA OR colB) AND (colC OR colD)

--William Golson
Equis International
www.equis.com