Ants — Momentum, Volume and Price (MVP)

[petech]

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.

 

[rhmillion]

This study appears to be really promising. I want to buy when the first GRAY SQUARE(which represents Momentum) emerges (based on my observations, all stocks rise after that). When I scanned "all stocks" for equities that fulfilled this criteria, no matching symbol showed up. The following is my scan code: I'd appreciate it if someone could help me.Thank you in advance

# mvp_01

# -----------------
# halcyonguy
# 21-08-25
# -----------------

# Momentum, Volume and Price (MVP)
#https://usethinkscript.com/threads/ants-—-momentum-volume-and-price-mvp.7497/
#I saw this very interesting custom indicator on TradingView.
#https://www.tradingview.com/script/uEaFv7tm-Ants-Momentum-Volume-and-Price-MVP/
#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:
# 1... Momentum - The stock is up at least 12 of the past 15 days.
# 2... Volume - The volume has increased over the past 15 days by 20% to 25%.
# 3... Price - The price is up at least 20% over the past 15 days.

# colored squares, above the candles:
# Gray - Momen requirement met.
# Blue - Momen and price requirement met.
# Yellow - Momen and vol requirement met.
# Green - Momen and vol and price requirement met.

#/////////////////////////////////////

def na = Double.NaN;
def bn = barnumber();

# ======================================

input OOOOOO_Momentum_OOOOOOO = yes;
# MVP
# 1... Momentum - The stock is up at least 12 of the past 15 days.
# it tests if current bar close > previous close

input series_max = 15;
input series_min = 12;
def momen_max = series_max;
def momen_min = series_min;
#input momentum_qty = 15;
#input momentum_min = 12;

def chgup = close > close[1];

def squares_price_offset = 0.02;
def vert = squares_price_offset;

# min series , when there are 'min' quantity of bars or greater, within a 'qty' set of bars.
# ex. if there are 12 min bars, within 15 qty bars.

#AddLabel(1, "MVP qtys " + momen_min + "/" + momen_max, Color.cyan);

# --------------------------------
# nested fold.
# test if x min bars, or more, are true , out of y qty bars
# loop1 , start at current bar, loops to future bars.
# loop2 , on each bar of loop1, it looks back at 'momentum_qty' quantity of bars and counts the times chgup is true.
# when done, if the count is > momentum_min, then a 1 is passed on to loop1.
# if momupx > 0, then at least 1 valid series was found, to go across the bar.

# add this to remove errors on last few bars, when bar is within (min-1) bars to the last bar,
# while !isnan( getvalue(close, -loop1) )

def momupx = fold loop1 = 0 to momen_max
with one
while !isnan( getvalue(close, -loop1) )
do one + if (fold loop2 = 0 to momen_max
with two
do two + if GetValue(chgup , (-loop1 + loop2) ) then 1 else 0) >= momen_min then 1 else 0;

# was there at least 1 min series found ?
def momup = if momupx > 0 then 1 else 0;


# //////////////////////////////////////


DEF t = if MOMUP then (high * (1 + (1*vert))) else na;


# -------------------------------------

plot scan = if T > 0 and T[1] < 0 and T[2] < T[1] then 1 else Double.NaN;

Did you ever figure out the scan? I've been trying to scan for this as well but not having much luck.

 

[Santhosh]

Did you ever figure out the scan? I've been trying to scan for this as well but not having much luck.

I've had no luck, either. I've been putting in a lot of effort. I scanned the entire universe of stocks in all time frames. There wasn't a single stock that came up in my scan (to find the stocks with the FIRST Gray square above the candle). Could someone please help? If we can figure it out, I feel it will be a game changer.
Thank you in advance

 

[Praful005]

I've had no luck, either. I've been putting in a lot of effort. I scanned the entire universe of stocks in all time frames. There wasn't a single stock that came up in my scan (to find the stocks with the FIRST Gray square above the candle). Could someone please help? If we can figure it out, I feel it will be a game changer.
Thank you in advance

@Santhosh ... This indicators gives the signal after 12 or 15 days depends on what you are looking at... if it detects momentum condition for 12 or 15 days then it will gives the signal and back paint all the bars. So it is no value as such. I would recommend that find these stocks that already meets MVP condition and keep a watchlist and when it pulls back and rise again then you can decide to take a position or not.

 

[Santhosh]

@Santhosh ... This indicators gives the signal after 12 or 15 days depends on what you are looking at... if it detects momentum condition for 12 or 15 days then it will gives the signal and back paint all the bars. So it is no value as such. I would recommend that find these stocks that already meets MVP condition and keep a watchlist and when it pulls back and rise again then you can decide to take a position or not.

Your strategy appeals to me. I'll keep a watchlist on these stocks from now on and take a position in the future based on the stock's performance. Thank you so much for your suggestions and input. For example, on 3/16/2020, the first GRAY square (above the candle) emerged in EXC Stock (Daily timeframe). The stock soared for several days after this gray candle. On March 16 (or at least March 17), I wanted to buy this stock, but my scan code did not return it on that day. Could you or someone else please check my scan code and confirm that it is correct? (to me the code appears to be correct). If it isn't correct, could someone please assist by providing the correct code?. Thank you in advance for your consideration.

 

[Santhosh]

@Santhosh ... This indicators gives the signal after 12 or 15 days depends on what you are looking at... if it detects momentum condition for 12 or 15 days then it will gives the signal and back paint all the bars. So it is no value as such. I would recommend that find these stocks that already meets MVP condition and keep a watchlist and when it pulls back and rise again then you can decide to take a position or not.

I just took the time to carefully read each of your sentences. It BACK PAINTS ALL THE BARS, something I had no idea about. This helps to explain why my SCAN (to find stocks when the first GRAY Square appears) yielded no results. Thank you

 

[Berke73]

I also need the code that works in tradingview.

The author does not share code.
I wanted to enter the process when the first box burned..

 

[MerryDay]

I also need the code that works in tradingview.

The author does not share code.
I wanted to enter the process when the first box burned..

We are a forum of Thinkscripters. You need to find a Pinescripter. This is the wrong forum.

 

[rad14733]

@halcyonguy If you independently figure out the logic to code in Thinkscript then posting the code should be acceptable... If the original code is unavailable, or obfuscated, then you would be using your own abilities to come up with the same results... I am working on a similar scenario as I reply...