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Woods Float Analysis Indicator

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Our Price: $250.00
 
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Tradestation

Description: The Cumulative Volume/Share Float Indicator works as follows: Beginning with the most recent bar, the computer calculates backwards in time, cumulating the volume for each bar, until it reaches the bar where the cumulative volume value calculated by this process equals the number of floating shares outstanding. This bar is referred to as the Current Float Point. Thus from the time of the Current Float Point to the most recent bar exactly one turnover of the floating shares has occurred. The computer then plots a dot on the chart at the most recent bar showing the highest high reached and the lowest low reached between the Float Point and the most recent bar. This process is repeated for each bar on the chart, creating a support/resistance channel showing for each bar the price range encompassing one turnover of the float up to that point. Observation of the channel created by this indicator permits a continuous evaluation of how the cumulative volume/float relationships change with time. It has only one input, FLOT, which is the number of outstanding shares actually available for trading for the stock being analyzed. This value can be found in the Thursbar edition of Investor’s Business Daily, or on various Internet sites providing fundamental information about stocks. NOTE: SOME DATA SERVICES PROVIDE DAILY SHARE VOLUME INFORMATION IN HUNDREDS OF SHARES, WHILE OTHERS QUOTE THE TRUE SHARE VOLUME NUMBERS. IT IS ESSENTIAL THAT YOU DETERMINE HOW YOUR DATA SERVICE QUOTES VOLUME AND THEN ADJUST THE "FLOT" INPUT VALUE TO MATCH THAT FORMAT. An alert is triggered when the price breaks above the upper channel boundary or below the lower channel boundary. Prices generally experience a substantial move after such a breakout. For more information about the Cumulative Volume Compared To Share Float Breakout Indicator, see the article on Float Analysis by Woods and Arps in the December, 1996 issue of Technical Analysis of Stocks and Commodities magazine, or check out the Floatanalysis.com Web Site. The indicator has four inputs, as follows: FLOT: This is the number representing the number of outstanding floating shares. HIALERT: When set to "True", will display the upper line (highest high) of the float range and activate the upper line breakout alert. The alert will sound the first time price breaks above the upper channel boundary. It will not sound again until price has consolidated with a cumulative volume since the last upper channel boundary breakout of at least 75% of the Float. LOALERT: When set to "True", will display the lower line (lowest low) of the float range and activate the lower line breakout alert. The alert will sound the first time price breaks below the lower channel boundary. It will not sound again until price has consolidated with a cumulative volume since the last lower channel boundary breakout of at least 75% of the Float. NMAX: This is the maximum number of bars back that the system will look at before calling it quits. It serves as an escape hatch to avoid getting trapped in an endless loop. If no plot appears on the chart when this Indicator is activated, it is probably because the number of bars back to accumulate the Float volume exceeds NMAX. If NMAX is set to a number of bars less than the distance from the Start Date back to the Float Point, the study will not plot.
 

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Futures and forex trading contains substantial risk and is not for every investor. An investor could potentially lose all or more than the initial investment. Risk capital is money that can be lost without jeopardizing ones’ financial security or life style. Only risk capital should be used for trading and only those with sufficient risk capital should consider trading. Past performance is not necessarily indicative of future results.

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