I saw this very interesting custom indicator on TradingView.
https://www.tradingview.com/script/uEaFv7tm-Ants-Momentum-Volume-and-Price-MVP/
I haven't got the slightest clue how to code this myself in TOS, but I think it is generally understood that we want to buy stocks that are under institutional accumulation. This indicator from TV seems to attempt to spot stocks that likely being accumulated by institutions. So I hope someone here who knows how to code would also find this concept of interest and want to code a script based upon the logic below.
Also I've already done a search on this site to see if something similar already existed, if it does, I missed finding it.
From the original author on TV....
The Ants indicator is based on the research of David Ryan, three-time winner of the U.S. Investing Championship. David came up with the idea for the indicator while managing the New USA Growth Fund at William O’Neil + Company. David was interested to understand what drove some stocks higher once they were extended from their most recent base, while others had only moderate moves up.
What David found during his research was that stocks making the biggest moves often had consistent buying on volume over a period of 12 to 15 trading days. Stocks with these characteristics may be under institutional accumulation, where it may take days to weeks to fill a position.
— Momentum, Volume And Price ( MVP ) —
The Ants indicator looks for the following:
■ Momentum - The stock is up at least 12 of the past 15 days.
■ Volume - The volume has increased over the past 15 days by 20% to 25%.
■ Price - The price is up at least 20% over the past 15 days.
https://www.tradingview.com/script/uEaFv7tm-Ants-Momentum-Volume-and-Price-MVP/
I haven't got the slightest clue how to code this myself in TOS, but I think it is generally understood that we want to buy stocks that are under institutional accumulation. This indicator from TV seems to attempt to spot stocks that likely being accumulated by institutions. So I hope someone here who knows how to code would also find this concept of interest and want to code a script based upon the logic below.
Also I've already done a search on this site to see if something similar already existed, if it does, I missed finding it.
From the original author on TV....
The Ants indicator is based on the research of David Ryan, three-time winner of the U.S. Investing Championship. David came up with the idea for the indicator while managing the New USA Growth Fund at William O’Neil + Company. David was interested to understand what drove some stocks higher once they were extended from their most recent base, while others had only moderate moves up.
What David found during his research was that stocks making the biggest moves often had consistent buying on volume over a period of 12 to 15 trading days. Stocks with these characteristics may be under institutional accumulation, where it may take days to weeks to fill a position.
— Momentum, Volume And Price ( MVP ) —
The Ants indicator looks for the following:
■ Momentum - The stock is up at least 12 of the past 15 days.
■ Volume - The volume has increased over the past 15 days by 20% to 25%.
■ Price - The price is up at least 20% over the past 15 days.