OmniTrader Upgrade Forums
ATM
ATM suggestion
2 replies, 874 viewings
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OmniTrader Upgrade Forums
ATM
ATM suggestion
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Last Activity 4/21/2021 9:48 AM 2 replies, 874 viewings |
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kmcintyre Legend  Posts: 410 Joined: 8/30/2007 Location: Valley Center, CA  User Profile |
So I have one suggestion. For years I have found OmniScan to be one of my favorite features in OT. The ability to build symbol lists based on OmniScript (or OmniLanguage indicators) has been core to my usage. And being able to dynamically build symbol lists over backtest periods that reflect the changing dynamics of the market has allowed me to perform far more accurate strategy simulations. So my suggestion would be to allow the user to select one of the omniscan lists included in a Profiles Focus List as the list of symbols to trade on any market state. So rather than cutting and pasting symbols right inside ATM, I would create a user symbol list for the Financial stocks I want to trade. Then I would select that list into the Profile. Then I would select that same list in all ATM market states that keyed off XLF and wanted to trade financials. But the big advantage of implementing my suggestion would come when trading market states that require completely different classes of stocks, where the underlyings in the list could only be determined at the time the market state was detected. For instance, back in 2009 (I believe it was March) I was learning Vector Vest. The market was about to capitulate from the HISTORIC 2008 bear market. VV was suggesting swapping to searches that found the most beat down SMALL CAP stocks. Their experience was that small caps lead first off the bottom, and those beat down the worst bounced the hardest. Sure enough! For the first few weeks of the start of the longest vull market ever. those bear down small caps soared! But then it was time to rotate to mid caps, And when the market got a bit long in the tooth, the blue chip dividend (income) stocks had their hay day. Now the thing is, the beat down small caps that made good in 2009 are not going to be the beat down small caps that roar back in 2021. But I could easily create a OmniScan list called "beat down small caps" that would find me the right stocks for my Bear Market Capitulation state. And while I could select the univers of all stocks into my Focus List, and then filter the heck out of the list in ATM and in custom strategies, wouldn't it be more natural to use OmniScan to create the list and simply select the one (of many) list from my Focus List?? Anyway - that's my suggestion. Thanks for your consideration | ||
| Jim Dean Sage   Posts: 3022 Joined: 9/21/2006 Location: L'ville, GA User Profile |
You’re right - ATM is pretty incredible. Re your suggestion - there’s bad news and good news. Bad news is: almost immediately after ATM was launched, I asked about using Dynamic Scan Lists with it. I was told pretty firmly that they don’t and won’t be. I guess it’s an architecture thing. Good news is: it’s a bit awkward but you can do the equivalent with ATM as is right now. Instead of putting your filter rules into OScan, you put them into the ATM Filter tab for the Market State they are intended for. Voila! Dynamic list control! The downside is that you need to make your main Focus List from which all the symbols are “potentially” sourced, really comprehensive. This of course slows calcs down - but that’s not an issue with end of day trading. In a while, I’ll be offering a way to do “guru type” ranked Historic Lists in ATM as well. But it sounds like the Dynamic approach will do it for you. Finally - during the webinar session a couple of weeks ago, Jeff discussed using an idea I’d suggested - the reference Symbol for the Market State rules should be mathematically correlated to the List of symbols that are applied to that Market State. You might want to think about folding that into your scenario, too - it sounds very much like what you mentioned already. Have Fun! [Edited by Jim Dean on 9/3/2018 10:52 PM] | ||
| kmcintyre Legend Posts: 410 Joined: 8/30/2007 Location: Valley Center, CA User Profile |
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