I am trying to build a very simple strategy that incorporates a simple volume function (among other functions). I am looking for volume to be 40% higher than prior 50 days average volume. How do I do this from rules?
Also, I am looking at 30 min. chart, does that mean that I would have to find 50X14=700 "periods" for the 50 days?
Thanks a lot in advance!
Size:
Color:
1. Switch the chart to Daily.
2. Throw in an entry rule.
3. From the Conditions tab, expand "Price (or Volume) Action" and drag and drop this condition:
* Volume is > X% above SMA.
Size:
Color:
Eugene: Does the chart have to be on the "Daily"? I am looking for a strategy to generate signals intraday on a 30 min chart. In fact, does WLP generate intraday signals at all?
Also, after I select Volume is >X% above SMA, down below, the Period is the number of days that the average volume is calculated on?
Thanks!
Size:
Color:
No it doesn't have to be Daily. You could use 700 "periods" if you like, staying in the chart's original time frame.
The period is always the number of bars (be they 30-min bars, Daily bars etc).
Size:
Color:
Yes, WL6 does generate intraday signals as well as EOD alerts.
Size:
Color:
Thanks Eugene, that is indeed good news. I will definitely work on my numbers for the 30 min chart.
If you don't mind, I had a question on creating a new Data Set. Is there any way I can create one without having to input all the symbols one by one? I follow IBD and was wondering if I can create a Data Set on WLP to include some of their indeces, such as ibd50, ibd200 on Thursday paper and big caps 20. Thanks!
Size:
Color:
In this case you could copy the list of symbols (delimited with spaces or commas) from your source and paste it in the symbol entry field of the New DataSet Wizard. Note: the same copy/paste thing is enabled for the "Symbols" field when editing the DataSet later in Data Manager.
Size:
Color: