Just a rehash of the volume spike alert here.

The reasoning behind this is when a stock makes a run and if you can determine the amount of volume that preceded the move up it might be useful to use that volume amount again some time in the future.

Sometimes a stock will make a 'sleeper move' with the price slowly moving up over time with no real significant amounts of buying; just slow and low buying volume.

Other times there may be a sudden surge of buying that is a wake up call for a previous move up and the stock begins the next leg up. This is what the logic is here. Instead of being glued to the monitor and if you follow volume as one of your methods this alert may help. All of this may be old news to some and new news to others so use or disregard as needed.

If you are looking for selling volume and negative price movement then simply change the > to < in the line that reads def Cond2True =close > close[1];  to   def Cond2True = close < close[1];

Copy and past the code from # to # for each segment of code:

 

This is the code for the alert:

#Palmer www.thepennystockquest.com
#Volume spike alert
#Change the volvalue as needed per the chart

input volvalue = 10000;
def Cond11True = volume > volvalue;
def Cond2True = close > close[1];
plot alert = Cond11True and Cond2True;

#End code

 

This is the code for the indicator:

#Palmer www.thepennystockquest.com
#Volume spike indicator
#Change the volvalue as needed per the chart

declare lower;
input volvalue = 15000;
def Cond11True = volume > volvalue;
def Cond2True = close > close[1];
plot alert = Cond11True and Cond2True;

#End code

 

I had planned on doing another live market video last week but the time factor did not work out. Will do that soon.

 

Palmer

The Penny Stock Quest