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On Sun, 29 Oct 2000 14:33:38 -0800, jhmtn wrote:
> Metastock Indicator for the Wood's Volume Float which efforts I
Here ya go:
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WCVFI (Woods Cumulative Volume Float Indicator) -
www.floatanalysis.com
To track the float turnover, you need a source for the float numbers.
I use two publications on which to base my calculations: the
Investor's Business Daily newspaper and the Daily Graphs charting
service. For my work, I used Omega Research's charting software,
SuperCharts.
Here's how the WCVFI works. The float is a variable input value that
must be entered for each different stock under consideration. Starting
on any given day and working backward, the current day's volume is
added to the previous day's volume and adds that to the next previous
day's volume and so on. As each volume number from the past is added
cumulatively, the computer compares the running total with that
particular stock's float. When the cumulative total is equal to or
greater than the float, a dot is placed above that particular bar on
the chart.
Then two horizontal lines are plotted on the chart. The top line shows
the highest price reached during the backward count, and the bottom
line, the lowest price. These lines serve as trigger lines for the buy
and sell signals. When the stock's price goes through the top line it
gives a buy signal, and when it goes through the bottom line it gives
a sell signal. The lines extend backward from the starting date to the
bar, where the float has gone through one complete turnover.
Some stocks with a small float may take months or years to go through
one complete turnover, while other stocks with large floats may have a
rapid turnover in a matter of days.
The program is set up to start counting backward from any date entered
for historical studies or set for the present date form constant
updates. If a stock's price is rising day after day, the program gives
buy signals each time the price goes through the line set from the
previous day's highest price reached. Looking at stocks reveals four
patterns that occur often
-The days it takes to trade all Float shares (this is an input
figure), from this period the high and low is taken.
ex: If FLOAT is 1 million shares (input figure) and the daily volume
of that stock is 100,000 shares, Then it would take 10 days and thus
you have to take the highest high of these 10 days and the lowest low
of these 10 days. But this is the second part, it would be already
nice if we could make an indicator who sets a 1 or an expert who sets
a point at the start of the 10 th day.
BackVolume:=LastValue(Cum(V))-Cum(V)+V;
float:=Input("# Shares (millions) ",1,100,1);
float=float*1000000;
if(BackVolume>=float,+1,-1);
It gives only '1 cycle' of cum. floating volume
.or.
TotalVolume:=LastValue(Cum(V));
n := TotalVolume - Input("Float Volume", 1, 100000000000, 100000000);
TrueDays:=(LastValue(BarsSince(Cum(V)<=n)))-1;
HighestSince(1,(BarsSince(Cum(V)<=n)>0),LastValue(HHV((HighestSince(1,(BarsSince(Cum(V)<=n)>0),Ref(H,-1))),TrueDays)));
LowestSince(1,(BarsSince(Cum(V)<=n)>0),LastValue(LLV((LowestSince(1,(BarsSince(Cum(V)<=n)>0),Ref(L,-1))),TrueDays)))
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