Help with Exploration Creation

[Chorlton]

Hi All,

I'm trying to write an exploration in Metastock thats searches for stocks based on the following criteria:

1) Todays Volume is 3 times the average volume for the last 30 days.

I already have an indicator in my charts which indicates (via a horizontal line) the average volume for the last 30 days: LastValue(Sum(V,30)/30)

I want to use this formula (as part of the new exploration formula) rather than a MA, as it is exactly what I'm after regarding the average volume.


So far, the formula I have come up with is: V>(LastValue(Sum(V,30)/30)*3)

However, when I run this exploration, the results which I get do not satisfy the criteria which I'm after!!

Can anyone help me????

 

[usgalla]

Try this
V > 3*(Mov(V,30,S))
But a formula with 3 times average volume would give too less no of signals. Unless its a breakout trade its is risky. At the end of a rally or a fall it could be the Climax part too.

Umashankar Galla

 

[RichardDale]

A slightly better result might be:
V > 3*(REF(Mov(V,30,S),-1))

This says today's volume is greater than yesterday's 30 day simple moving average of volume (ie the moving average does not take into account today's volume).

Cheers,
Richard.

 

[Chorlton]

Thanks for the info guys..........

Chorlton