Bollinger Bands, DMI and MACD pattern?
Author: timturks
Creation Date: 6/25/2008 9:07 PM
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timturks

#1
I have found a pattern that usually points to a stock about to go up in price using Bollinger bands, DMI lines, 3 line SMA, and MACD

I am currently using fidelity active trader pro and entering a stock symbol from a list of 136 stocks that I invest from. This is time consuming as I have to enter the stocks one at a time to look for the desired technical indicators pattern

The problem I am having using wealth lab to spot the pattern is wealth lab comes up with stocks that have formed the pattern at anytime throughout the day. The problem with this is once the pattern has occurred the stock price will go up but not stay there for long - usually about 1 hour of traveling upward and peaking before it comes back down again so wealth lab finding stocks that have already met the pattern and peaked does not do me any good

What I need to be able to do is use wealth lab to find stocks that have ended the day with the indicators at a specific position. Bollinger bands narrowed, MACD fast line very close to or just above the slow line, DMI+ very close to or having just crossed the DMI- line etc... This way I will already have my stocks chosen for the next day provided the market is not dragged down. Stocks that have ended the day with the indicators in the positions mentioned have a tendency to go up the next day once the DMI lines cross

Anyone know how to solve this problem?

Thank You
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Eugene

#2
The most easiest option would be to create a "New Strategy from Rules..." and drag & drop the following set of rules:
Picture

A step further is to create a new strategy and modify these built-in rules (note: there's no clear technical definition of "narrowing" or "very close" in your post) and then create a screen out of it (see Techniques > Creating a Screener).
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timturks

#3
Thanks for the feedback Eugene

To elaborate when I say the Bollinger bands have narrowed I consider narrowed to be where the bands have a gap value of 1 or less between them. How do I set the Bollinger band screener option for this? All I saw was a "Bollinger bands are narrowing" option

When I refer to the MACD lines being very close I am referring to a value of .5 or less between them

As for the DMI lines being very close a value of 7 or less between them qualifies

I viewed the picture you linked and I understand the criteria you have shown. I am not having a problem getting wealth lab to find stocks that meet some of the criteria. What I am having a problem with is getting wealth lab to find stocks that have met or are close to meeting the criteria within the last hour of trading at the end of the day

To accomplish this I need for wealth lab to screen through my list of stocks looking at only the last hour of trading at the end of the day

If I set my scale to 5 minutes and the data range to 12 bars this should accomplish what I need but when I do that I get a "run time error. Index was out of range. Must be non negative and less than the size of the collection. Parameter name: Index" message

I have to have my scale set to 1 minute and my data range set for 60 bars to get this to work but a search at that setting is extremely time consuming

In addition I am not only looking for stocks where the DMI or MACD lines have already crossed. I am also interested in stocks where the lines are very close to making a crossing so what criteria would I use for this?

You make reference to see techniques > creating a screener - where do I find these options?
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Eugene

#4
Re: "Techniques - Creating a Screener" -

Here I mean the WealthScript Programming Guide.

Re: I get a "run time error. -

Please post the entire strategy code.
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timturks

#5
Here I mean the WealthScript Programming Guide. - Which is found where? Included in the wealth lab program or on this website somewhere?

Below is the code for the criteria I am using


CODE:
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Eugene

#6
1.
WealthScript Programming Guide is included in the program, it's under the Help menu.

2.
If I set my scale to 5 minutes and the data range to 12 bars this should accomplish what I need but when I do that I get a "run time error. Index was out of range. Must be non negative and less than the size of the collection. Parameter name: Index" message

It's not the right thing to do. Just think about it: if you set the data range to 12 bars and your strategy starts working on bar 61 ( for(int bar = 61... ), index is surely getting out of bounds here.

Right now I have something to work on but later I'll revisit your question and will see if we can do a better solution to screen for stocks meeting your criteria within the last trading hour.
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timturks

#7
I am not sure what you mean by this "It's not the right thing to do. Just think about it: if you set the data range to 12 bars and your strategy starts working on bar 61 ( for(int bar = 61... ), index is surely getting out of bounds here."

I have no experience understanding the code. All I know is that I am trying to get wealth lab to filter through about 136 different stocks to look at the last hour of trading at the end of the day for stocks that have had the Bollinger bands narrowed so the gap between the bands is 1 or less, the MACD fast line is very close or above the slow line, the DMI+ line is very close or above the DMX- line etc...

If my scale is set to 5 minutes and my data range is set for 12 bars does not each bar represent a 5 minute interval? Would not then the data displayed represent 1 hours worth (5 minutes X 12 = 60 minutes)?

Why would my strategy not start working until bar 61? What is this index you refer to?

I guess I am not understanding how all of this works. I am getting the impression that it is a little more complicated than it needs to be.

If wealth lab was a person I would tell it "what I would like you to do is go through this list of 136 stocks that I have and using the MACD, ADX, DMI, and Bollinger band indicators look for the stocks that within the last hour of trading have had the Bollinger bands narrow to where the gap between the bands is 1 or less, the MACD fast line is...."

Ihave a feeling wealth lab does not have this capability.

Thank you again Eugene for taking time to try and help me with this

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Eugene

#8
If my scale is set to 5 minutes and my data range is set for 12 bars does not each bar represent a 5 minute interval? Would not then the data displayed represent 1 hours worth (5 minutes X 12 = 60 minutes)?

No, because your strategy is starting at bar 61. See WealthScript Guide - "The Bars Object" for a definition. In your case the bar is a 5-minute time interval. Your strategy needs 60 bars - and not just minutes - to actually start executing because of the 60-period slow moving average used for Condition2.

Ihave a feeling wealth lab does not have this capability.

Wealth-Lab for sure has this capability, actually it's a very basic stuff. You've just came to a point where you need a set of custom rules not served by the Rules Wizard tool. For every capable software there is some learning curve involved. Its slope's steepness however depends on where you need to get.

Since you have detailed the technical condition pretty well, here's something for you to start with. The screener below will search for stocks meeting all your three criteria in the last hour of the trading day using 1- to 30- minute-based data (per your request). Please see the WS Guide on how to compile, save and run the code. Also make sure to visit "Techniques - Creating a Screener" there.

CODE:
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timturks

#9
Sorry I have no prior programming experience and I have looked at WS how to compile code and it appears to be sorely lacking a step by step instruction on how to compile using strategy editor

Strategy editor has a number associated with each line of code
I tried to copy and paste the code you have written for me but I am at a loss as to where the line of code starts or ends and a new line of code begins

For example is the /* which precedes the text - Bollinger bands have narrowed = a gap value of 1 or less between them. - on a line all by itself and the text starts a new line? Would then the text - the MACD lines being very close = a value of .5 or less between them - also be on a new line?

I am hoping it will be as simple as each line of code you have posted represents a line of code to be entered in using the editor

So it would go something like this

1.)using System;
2.)using System.Collections.Generic;
3.)using System.Text;
4.)using System.Drawing;
5.)using WealthLab;
6.)using WealthLab.Indicators;
7.)namespace WealthLab.Strategies
8.){
9.)public class MyStrategy : WealthScript
10.){
11.)/*
12.)Bollinger bands have narrowed = a gap value of 1 or less between them.
13.)the MACD lines being very close = a value of .5 or less between them
14.)the DMI lines being very close a value of 7 or less between them qualifies
15.)*/
16.)protected override void Execute()

Is this the way it should be set up? There is also a box next to each line number with a + or - symbol inside and a line that extends downward from the box linking the box in the next line - I have no idea what that is for

I apologize for not being more experienced here and I have tried to comprehend what is discussed in the manual but I feel the manual is poorly written for beginners

I found nothing in the manual on how to compile code using the editor. Even more confusing is the description given pertaining to code equivalent for a given strategy

As always I thank you for putting in the time and effort to help me out. I think it is only a matter of transferring the code you have displayed into the strategy editor and getting it to run, then saving it once verified
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Cone

#10
The manual is intentionally not written for beginners. Beginners and non-programmers should use the Strategy Wizard and forget about programming. If you want to learn programming, then you can: 1) take a class at the community college, 2) buy a book, or 3) use any number of the hundreds of free sources on the web. We felt like it was a waste of time to repeat the information that is readily available elsewhere. Consequently, we concentrate on giving concrete examples of programs that almost everyone is likely to write. Working with examples is a great way to learn how to program, but at some point you have to apply the knowledge yourself.

<< I found nothing in the manual on how to compile code using the editor. >>

There's a section in both the User Guide and WealthScript Programming Guide (also called the WealthScript Language Guide) "How to Run Example code" that sufficiently covers compiling code to run it.

But you really don't have to look further than the Editor's toolbar, where both of the buttons "Run the Strategy" and "Compile" compile the Strategy in the Editor. You'll find that every single button is defined in the User Guide. If you find one that's not, then let me know and we'll make sure it is for the next update.
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timturks

#11
First I would like to thank you for writing the code based on the criteria I wish to use

The "how to run example code " section showed me how to copy and paste the code you have written for me into the editor. I then used the compiler button and the code compiled correctly

I then ran the strategy on my list of 136 stocks and when it was finished I did not receive any errors. I used a 1 minute and I also tried it at a 30 minute setting

I did not get any results for stocks that matched the criteria - the "trades" box was empty

I will manually go through my list one at a time to confirm the criteria was not met

Some refining of the code may be necessary
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Eugene

#12
QUOTE:
I did not get any results for stocks that matched the criteria - the "trades" box was empty


Tim, I was under impression that your intention was not to backtest this pattern but routinely scan your universe of 136 stocks for a specific signal. Therefore I've coded it as a Scan (Techniques > Creating a Screener, WealthScript Guide). Please see the "Alerts" tab for signals.
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timturks

#13
Something doesn't appear to be correct. I even modified the math part of the code for more leadway and I still do not get any results in either the alerts box or the trades box

The modified code is below. Note: I reversed the MACD fast and slow as well as the DMI+ and minus in the math area. I am looking for stocks about to go positive and at the point leading up to this the MACD slow is above the fast as well as the DMI minus above the plus

CODE:
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timturks

#14
I did some further modifications to the code combining the code you have written with code put together by the wizard. Now I am getting alerts and the stocks coming up match my criteria. 1 problem though - the chart display is just a series of about 100 alternating blue and grey horizontal lines one on top of the other filling up about 1/2 the screen and directly below is repeating text
"bbandupper(close,20,2)"
"bbandlower(close,20,2)"
"sma(close,20)"
"sma(close,60)"
"bbandupper......

This is the current code:

CODE:
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timturks

#15
I guess I may have jumped the gun a little here. Some of the stocks in the alert screen do not meet my criteria and some stocks that do meet the criteria are not showing up in the alert screen

The code you wrote has some sort of problem to it. I do not get any stocks showing up in the alerts box when I run that strategy - we are almost there though
Thanks
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Eugene

#16
Please use the Code button when posting code otherwise it's difficult to read.


QUOTE:
the chart display is just a series of about 100 alternating blue and grey horizontal lines


So to say you have coded it precisely this way by putting all the directives inside the bar loop. The code is incorrect. Also the bar loop isn't necessary in your case because you have no exit rule in place - a Screener without the bar loop is enough.

QUOTE:
Some of the stocks in the alert screen do not meet my criteria and some stocks that do meet the criteria are not showing up in the alert screen


Run my script again (a slight change) as indicated in "Creating a Screener - Running the Screen", notice the output and then please indicate exactly:
1) what is your criteria: should these three conditions be met at once or any one of them?
2) which stocks (2-3 is enough) you think meet your criteria and which do not
3) what was your timeframe

After verifying the requirements changes to the code could be made.
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timturks

#17
"Run my script again (a slight change) as indicated in "Creating a Screener - Running the Screen", notice the output" - Not sure what you mean by this - If I am understanding correctly you made some changes to the code you posted and you are asking me to copy and paste the new code located in the same posting?

If this is the case I did so using a 1 and also a 5 minute setting and received the following errors:

Error processing symbol ADCT Index was out of range. Must be non-negative and less than the size of the collection.
Parameter name: index
Error processing symbol ADSK Index was out of range. Must be non-negative and less than the size of the collection.
Parameter name: index
Error processing symbol AIG Index was out of range. Must be non-negative and less than the size of the collection.
Parameter name: index
Error processing symbol ALTR Index was out of range. Must be non-negative and less than the size of the collection.
Parameter name: index....

This repeated for all stocks in my list

I then ran it at a 30 minute setting and did not receive any errors but I also did not receive any alerts either

this is the code I ran

CODE:
Please log in to see this code.


As for the stocks that met my criteria at the end of the day yesterday they would be ALTR, DISH, MSFT

I should add here that the criteria doesn't necessarily have to have occurred within the last hour of the day. What is important is that the stock ended the day meeting the criteria

All 3 conditions need to be met:

MACD fast very close to the slow line - very close = .5 or less
DMI plus line very close to the DMI minus line - very close = 7
Bollinger bands narrowed = gap of 1 or less between them

This would be scenario #1

Scenario #2 would be

DMI plus line crossed over and above DMI minus line
MACD fast line crossed over and above MACD slow line
Bollinger bands are flaring outward from a narrowed position

All 3 conditions need to have been met

For this scenario it is important that the criteria occurred within the last hour at the end of the day. A perfect example of this would be the chart for AT&T symbol = T on June 24th

If a seperate screener is needed for scenario #2 that would be fine

I have been using the chart that comes with Fidelity active trader pro to screen for these stocks and I have my settings at 10 days/ 1 hour
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Eugene

#18
QUOTE:
Error processing symbol ADCT Index was out of range. Must be non-negative and less than the size of the collection.
Parameter name: index

...
This repeated for all stocks in my list


Whenever you have a problem like this, please try to include as much information as possible, here's a good guide: Reporting a Problem?.

I seem to have already indicated in a post from 06/27/2008 that the source of this "out of range" error are incorrect settings i.e. data range. What number of bars are you loading? which time frame? was your DataSet up to date?

QUOTE:
As for the stocks that met my criteria at the end of the day yesterday they would be ALTR, DISH, MSFT


I can't see where all of your three criteria were met on MSFT given the code above. For example, the Bollinger Bands and MA Fast/Slow setups were OK but the DIPlus/DIMinus pair was diverging more than 7 points. Are we looking at the same charts here?

Today:
QUOTE:
I have been using the chart that comes with Fidelity active trader pro to screen for these stocks and I have my settings at 10 days/ 1 hour


From your 2nd post # 06/26/2008:
QUOTE:
If I set my scale to 5 minutes...
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timturks

#19
To clarify a couple of points here let me explain

I have been using the chart that is part of the Fidelity active trader pro program for the last year to screen for stocks whose technical indicators form a particular pattern which preceeds the value of the stock going up.
Originally I was using a setting of 3 months/daily to find such stocks. The market has since become very bearish to where a 3month/daily setting is unreliable. I have since changed my setting to 10days/hourly to search for such stocks. A couple of weeks ago I was talking to a Fidelity representative and he mentioned a program that can automatically search stocks for my criteria. After installing wealth lab I started experimenting with the different settings one can use for backtesting. The problem I encountered was trying to find a setting where I would get a chart that matches the chart I obtain using active trader at my current setting. Wealth lab appears to have a "bars" setting (which I have yet to comprehend) instead of a "intraday, daily, 2 days, 5 days etc..." setting

I would like to be able to view a 10day/1hour , a 2day/30 minutes, a intraday 10 minute, and eventually a 3 month/daily and a 1year/weekly wealth lab chart that matches the chart I get with active trader pro but I have no idea how to accomplish this

My settings were such-
Scale: 1 minute or 5 minute
Data Range: 60 bars
Posistion: Raw profit mode, Fixed Dollar, 5,000
- when I received the "Error processing symbol ADCT Index was out of range. Must be non-negative and less than the size of the collection.
Parameter name: index
Error processing symbol ADSK Index was out of range. Must be non-negative and less than the size of the collection.

I am using the "Explore and Backtest" feature when I receive this error
The tab selected is "data set" and the option is "multi symbol backtest"
The stocks being screened are a list of stocks I compiled consisting of stocks traded on the NYSE and NASDAQ whose daily volume >= 2 million shares

As for the chart for MSFT meeting my criteria you are correct. The pattern has since changed due to todays activity

I think it is safe to use the chart for MSFT from June 24th as a good example of a stock that meets scenario #1 condition (remember I am viewing at a 10day/1hour setting)
You can also use the MSFT chart for the early part of June 25th to see the scenario #2 condition being met. Bollinger bands are flaring out, MACD fast has crossed over and above MACD slow, DMI+ has crossed over and above DMI-

I hope this posting has helped to clarify my issues and I thank you again for being so patient with me
I think we are almost there
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Eugene

#20
QUOTE:
Wealth lab appears to have a "bars" setting (which I have yet to comprehend) instead of a "intraday, daily, 2 days, 5 days etc..." setting


As WealthScript (Programming) Guide is telling,

QUOTE:
A bar is any interval of time that has an open, high, low, and closing (OHLC) price, whose values may be different or equal. These can consist of any number of minutes (e.g., 1, 2, 5, 20, 30-minute bars), or one day, week, month, quarter, or year. Wealth-Lab also includes support for bars that are multiples of ticks or seconds.


That simple. However indicator series require some data to be pre-loaded depending on their parameters. That's why there's a need, for example, in at least 60 hourly bars to exist before your code above even starts churning out values. If you, as indicated above, try to operate it on 1- or 5-minute scale, you'll need to specify as much 1/5-minute data that is enough to build the resulting compressed 60-minute data series. If you want to work with 5-minute bars then I believe a figure of 800-1000 bars would be enough to load in the Data Range control. Choosing 'All Data' is not recommended here as it will take too much memory (the number of bars in a typical 1-minute chart is in the 350,000 ballpark).

Turn On Demand updates off, update the DataSet, make sure enough data is loaded and run the screen after the market closes.
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timturks

#21
Like I said we are almost there. I ran the strategy just now

Scale 60 minutes
Data range 800 bars
Data set - multi symbol backtest

I ran this backtest on the DOW 30 data set that comes with the program

I received 1 alert - PFE - I encountered 2 problems when I double clicked on the alert

The first problem is I receive the following error message:

Error processing symbol XOM Unable to cast object of type 'WealthLab.DataSeries' to type 'WealthLab.Indicators.SMA'.

The second problem is the chart I obtain for the stock contains no technical indicators - just a priceline

The stock that I was alerted to was PFE

If I enter the symbol into the symbol box located on the left just under the position size box and proceed to hit the "go" button I then was able to view a 10 day chart for PFE including some technical indicators
The following indicators were present:

Bollinger bands

2 line SMA - I think we have some confusion on this one. The indicator I use on active trader is not an overlay indicator, it is sometimes referred to as a lower indicator and it contains 2 lines MACD fast and MACD slow in addition to a 0 reference line with bars protruding in a up or down direction from the ref line
This indicator is referred to as the MACD indicator

ADX line

DMI+/- LINES

STOCK PRICE - line style - which is what I use - no candlesticks

Almost there - right?

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Eugene

#22
I've got a couple of questions wrt to your scenario #2:

QUOTE:
DMI plus line crossed over and above DMI minus line
MACD fast line crossed over and above MACD slow line


What is "crossed over and above"?

How that would be expressed in numbers:

QUOTE:
Bollinger bands are flaring outward from a narrowed position

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Eugene

#23
QUOTE:
The indicator I use on active trader is not an overlay indicator, it is sometimes referred to as a lower indicator and it contains 2 lines MACD fast and MACD slow in addition to a 0 reference line with bars protruding in a up or down direction from the ref line


A MACD indicator with bars protruding is actually referred to as the MACD Histogram while your first post indicated that:

QUOTE:
MACD fast line very close to or just above the slow line,


Now let's make it clear using the Wealth-Lab Wiki definition below:

QUOTE:
The two lines are called, MACD Line or fast line and MACD Signal or slow line. The MACD line is displayed as a solid line on the chart, and the MACD signal line is displayed as a dashed line on the chart. The popular MACD Histogram is derived from the difference between the MACD and its signal line.


But in general you're right so here goes updated code:

CODE:
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timturks

#24
Thank You for the new code - does it address all issues from my previous posting?

Error message received
Chart without indicators

I will try the code tomorrow. If you start your weekend early have a good 4th of July
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timturks

#25
Sorry I didn't see your posting preceeding your last one

I believe the more correct description would be "crossed above" instead of "over and above" when referring to DMI and MACD lines

Please view the June 30th chart at a 10 day/ hourly setting for stock symbol VRTX to see a good example of scenario #2 occurring

Notice at the begining of that day the DMI+ crossed above the DMI- line and the MACD fast crossed above the MACD slow. Also notice how the bollinger bands went from a parallel pattern to a flaring outward pattern after the DMI lines crossed

As for expressing these occurrences mathmatically I couldn't tell you . I was hoping your experience would come into play here

As always thanks for your patience and valuable assistance
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Eugene

#26
Hi Tim,

QUOTE:
Unable to cast object of type 'WealthLab.DataSeries' to type 'WealthLab.Indicators.SMA'.

+
QUOTE:
Error message received
Chart without indicators


Thank you for reporting these errors. That code was actually prone to them as it comes out, I'll see what was wrong there.

QUOTE:
As for expressing these occurrences mathmatically I couldn't tell you . I was hoping your experience would come into play here


Sorry but my experience has nothing to do with your decision making. It's a good idea to start programming only when there are unambiguous terms. Therefore I'll just take the standard rule "BB expanding" with an added twist: your condition "Bollinger bands narrowed" as of bar-1.


CODE:
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timturks

#27
The last code you posted appears to be exchange sensitive. I ran the code at:

Scale 60 minutes
Data range 800 bars
Data set - multi symbol backtest

When I used it to screen the DOW 30 it ran fine with the exception of no alerts received

When I ran the code at the exact same settings on the NASDAQ 100 as well as the wealth lab 100 I received the following error messages

Error processing symbol AAPL Index was out of range. Must be non-negative and less than the size of the collection.
Parameter name: index

This message of course repeated for all stocks in the data set screened
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timturks

#28
I just ran the code you posted prior to the last code you posted and this is what happened

Note the following settings will be my default settings. I believe this is what is needed to obtain the same chart I get from Active Trader pro at a setting of 10 days/ hourly


Scale 60 minutes
Data range 800 bars
Data set - multi symbol backtest

I first used it to screen the DOW 30 data set and it ran fine with 3 exceptions

1.) I received the following error message when the screen completed:

Error processing symbol XOM Unable to cast object of type 'WealthLab.DataSeries' to type 'WealthLab.Indicators.MACD'.

2.) When I double clicked on any one of the 3 alerts I received, (HPQ, MMM, PFE), I obtained a chart with only a price line. No TA indicators displayed

3.) HPQ which was one of the stocks listed in the alert did not meet the Bollinger band criteria within the last hour of trading on Thursday. The bands were too far apart for all of Thursday

This code also would not work on the NASDAQ 100 or Wealth Lab 100 data sets - I received the same error as with the last code you posted:

Error processing symbol AAPL Index was out of range. Must be non-negative and less than the size of the collection.
Parameter name: index

Something has me puzzled here. I am wondering why we are getting different results running the same codes at the same settings.
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Eugene

#29
QUOTE:
I am wondering why we are getting different results running the same codes at the same settings.


I'm running 5.1. When Fidelity releases 5.1 let's see if it happens again.

QUOTE:
I ran this backtest on the DOW 30 data set that comes with the program

+
QUOTE:
Scale 60 minutes
...
I first used it to screen the DOW 30 data set and it ran fine with 3 exceptions


The Dow 30 data set that comes with the program is Daily.

Have you created an intraday dataset with the Dow 30 symbols?
Is that data up to date?
Were on demand updates turned off?
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timturks

#30
QUOTE:
Have you created an intraday dataset with the Dow 30 symbols?


No - I wasn't aware I needed to

Do I also need to create a intraday data set for all the other data sets that come with wealth lab?


QUOTE:
"Were on demand updates turned off?


Yes per your earlier instructions this option has been turned off and unless it has the ability to turn itself back on again I do not go back each time I run a screen to confirm it is still set to off

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Eugene

#31
QUOTE:
The Dow 30 data set that comes with the program is Daily.

Have you created an intraday dataset with the Dow 30 symbols?


I think I don't need an answer to this: these "errors" could be produced by selecting an intraday scale on a Daily dataset and trying to run. This is not the right thing to do. Create a 1-... 30-minute DataSet, download the full set of data.

Please don't forget to review the User Guide, especially "Data > Data Manager > Create New DataSet".
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Eugene

#32
QUOTE:
Do I also need to create a 60 minute data set for all the other data sets that come with wealth lab?


Of course.

P.S. Please note: there are no 60-minute datasets (you'll find the reason explained in the User Guide), just create a 30-minute one and select the right scale afterwards.
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timturks

#33
OK I will go ahead and create intraday data sets for all of the data sets that come with wealth lab and try again

QUOTE:
P.S. Please note: there are no 60-minute datasets (you'll find the reason explained in the User Guide), just create a 30-minute one and select the right scale afterwards.


Does this mean I will not be able to use a 60 minute setting at 800 bars screening to get a chart that matches my 10 day/hourly setting chart from active trader?

If the default for all of the data sets that come with wealth lab are daily then why did running the code on the DOW 30 actually work with the exceptions I listed and yet running the same code on the other data sets that come with wealth lab failed?
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Eugene

#34
QUOTE:
Does this mean I will not be able to use a 60 minute setting at 800 bars screening to get a chart that matches my 10 day/hourly setting chart from active trader?


No, you will be instantly able. Follow the "How to: Create a Fidelity DataSet".

QUOTE:
If the default for all of the data sets that come with wealth lab are daily then why did running the code on the DOW 30 actually work with the exceptions I listed and yet running the same code on the other data sets that come with wealth lab failed?


Although it's possible to provide for any user errors in the code, my assumption was that you've read the User Guide and made each step required to run the code on intraday datasets.
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timturks

#35
I have given up on reading the users guide for anything. To me the users guide is a clear example of what happens when people who are very knowledgable about a subject write a book expecting people who have little to no knowledge of the subject to be able to comprehend the information.

I know, I have been in the situation of having to write set up or test proceedures for other electronics technicians who had no prior knowledge of the equipment being discussed. The key is to be able to put yourself in the other persons position when writing the info so they can understand it and I don't think that's the case with the creators of the wealth lab users guide

I guess I will have to wait until the "wealth lab users guide for dummies" book comes out

While writing this I am waiting for wealth lab to finish updating a data set I just created using stocks I have on my active trader watchlist. Once the data set is updated I will run the screen and post the results
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timturks

#36
OK here we go

After updating my new data set created using a 30 minute interval I ran the screen at the following setting

scale 30 minutes
data range 160 bars

since 30 X 160 = 4800 and 4800/60 = 80 = 10 - 8 hour days right?

I recieved 6 alerts which included stocks AGX, BUD, CHQ, IDIX, IOMI, TRCA

The chart now comes with the correct indicators included - thank you

I did however delete the portion of the code for the ADX indicator - I didn't really need that one

I will look into the stocks that came up in alerts as meeting the criteria and confirm none were missed in the screening later

It may just be a matter of tweaking some values now -

thanks for all your help

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