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OmniTrader 2010 Technical Support
Help - Omniscript for BB Scan
Last Activity 7/29/2018 4:46 AM
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eghunter

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Subject : Help - Omniscript for BB Scan
Posted : 6/30/2011 2:48 PM
Post #24437

Could anyone help me write the Omniscript language for the following setups: 1) yesterday's bar (any part) having touched the lower BB; and, 2) the same bar having come within 1% of touching the lower BB. I would very much appreciate any help. Thanks.
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julesrulesny

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Subject : RE: Help - Omniscript for BB Scan
Posted : 6/30/2011 4:27 PM
Post #24438 - In reply to #24437

Price touching Lower Bollinger Band - You could change C to H, L, or O

c[1] = BOL_Lower(13,2)

For the rest of it, you are asking for the Omniscript that will show the Bar both touching the Lower BB and also coming within 1% of the Lower BB in the same timeframe? that's going to be difficult.. Your asking OT to look for symbols that both touched the Lower BB and came within 1% of the Lower BB in the same timeframe. Try changing C[1] to C[2].

C[1] means Close 1 day ago, or 1 period ago..

Maybe something like..

c[1] = BOL_Lower(13,2)
AND
C[1] > BOL_Lower(13,2)+.01

Try different figures to see if it meets your standards, or maybe use

C > BOL_Lower(13,2) * ATR(14)*.01

just guess work on my part...
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Jim Dean

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Subject : RE: Help - Omniscript for BB Scan
Posted : 6/30/2011 4:38 PM
Post #24439 - In reply to #24438

Marc is close but his formulae are missing a [1] on the right side.

Here's what you need, I think ... a scan that identifies stocks that were VERY CLOSE TO the lower BB yesterday. "Very Close" is usually defined as a fraction of ATR (as Marc suggested) ... another way is to make it a percentage of price.

If you're looking for any part of the bar being close to the lower BB yesterday (ie a bit above, a bit below, or exact hit), this should do it for you:

Abs( BOL_Lower(13,2)[1] - L[1] ) < ATR(14)[1] / 20

You can adjust the ATR periods, or the divisor, as you wish. I suggest you try out the scan and check the results on a chart before messing with it.


=== OTOH ===

If you're looking for a stock whose HIGH is close to the lower BB (ie the bar is mostly below the BB):
Abs( BOL_Lower(13,2)[1] - H[1] ) < ATR(14)[1] / 20


=== FINALLY ===

If you're looking for a bar that STRADDLES the lower BB yesterday:
H[1] >= BOL_Lower(13,2)[1] and BOL_Lower(13,2)[1] >= L[1]

[Edited by Jim Dean on 6/30/2011 4:44 PM]

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eghunter

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Subject : RE: Help - Omniscript for BB Scan
Posted : 7/1/2011 9:03 AM
Post #24446 - In reply to #24437

I want to thank both of you for taking the time to help me. Your comments were very helpful and much appreciated. Thanks again, eghunter
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julesrulesny

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Subject : RE: Help - Omniscript for BB Scan
Posted : 7/3/2011 8:24 AM
Post #24455 - In reply to #24446

You are very welcome. Good luck and hopefully you can get some use out of it.. Let us know your results if or when you get a chance.

Check out these Forum discussions in the VT forum. If you like Bollinger Bands, you may very well like "The Squeeze" which is always a hot discussion topic in the forums:

(**Some are rather old, and perhaps outdated - but maybe you can still get some use out of them..**)

http://www.visualtrader.com/forum/thread-view.asp?threadid=1009

http://www.visualtrader.com/forum/thread-view.asp?threadid=803

http://www.omnitrader.com/omnitrader/proforum/thread-view.asp?threadid=867

http://www.visualtrader.com/forum/thread-view.asp?threadid=1009&posts=20

http://www.omnitrader.com/omnitrader/support/OT2004/forum/thread-view.asp?threadid=4402&start=76&posts=79

http://www.omnitrader.com/omnitrader/proforum/thread-view.asp?threadid=592



http://tradetight.org/forums/thread-view.asp?tid=270&posts=2&highlight=squeeze&highlightmode=1#M853



http://www.omnitrader.com/omnitrader/support/OT2004/forum/thread-view.asp?threadid=3025



Bollinger Band discussion:
http://www.omnitrader.com/omnitrader/proforum/thread-view.asp?threadid=1599

http://www.omnitrader.com/omnitrader/support/OT2004/forum/thread-view.asp?threadid=3128

http://www.omnitrader.com/omnitrader/proforum/thread-view.asp?threadid=787

[Edited by julesrulesny on 7/3/2011 8:44 AM]

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