i change V ROC period to 1 an increase in volume + price gain is an accumulation day i wish i can screen for accumulation day n go thru each stock chart a distribution day is an increase in volume from prior day + price decline. Is there a way to screen off of daily V ROC + price change for the day
mehtabsond
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@Shaolintrader88, brother there are many other indicators that screen for distribution and accumulation. Look for Wycoff or VSA indicators. They would be better suited to your philosophy. As it is, merely distribution or accumulation alone can not predict price action reliably. This indiactor was not created with Wycoff philosophy so i have not tested it the way you want. Thanks
freeroll88
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@mehtabsond, I wrote the scan script on stockcharts for accumulation day plus positive daily gain or close above open...paste output to finviz n filtered only high short float 10%+ short float... Picked up PTON CHWY buy setup before launch... I have your V ROC on my chart... Would be nice to have it colored for higher volume than prior day. I also like using your indicator for above 10 day avg n 20 day avg volume
AndrewKouassi
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One more question, why does the indicator not read a percentage? Why are there two lines? When the lines aren't on the same plane, is that sign of divergence?
mehtabsond
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@AndrewKouassi, i have never checked for divergence. usually the look period/timeframe of both indicators in a divergence setup is similar. but here one is only the MA of the main indicator... if u still find some corelation, it may be purely coinicidental
AndrewKouassi
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How often do you utilize this indicator in your strategy (PS.- If possible, can my messages not be ignored. Thank You)
mehtabsond
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@AndrewKouassi, brother i have eversince moved away from trading because of compulsions of my regular job
AndrewKouassi
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@mehtabsond, Did you feel like trading wasn't for you?
AndrewKouassi
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It seems to be consistent. I back-tested using it & it seems to be explaining certain losses I took, especially when volume was unstable on the previous candlestick. I want to know what differentiate this with the regular ROC indicator.
mehtabsond
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@AndrewKouassi, brother the code is in front of you. i have not compared it with any other indicator. neither was my intention. if you find it useful, please share with ur friends