Wyckoff is teaching us to buy stocks that are stronger than Wyckoff Wave and to sell short stocks that are weaker than Wave. Stronger = upswing of the stock is greater than upswing of the Wave and downswing smaller than Wave (Weaker = reverse).

With this idea in mind my plan was to create scanner for MultiCharts that would sort out stocks with this qualifications from a list of stocks (for example S&P500). Old TradeGuider software had this scanner long time ago.

I am beginner in EasyLanguage programming but I think I would probably know how to calculate stronger or weaker swings from higher highs and higher lows or from ZigZag indicator. But then I realized I have problem – MultiCharts Scanner doesn’t allow data1 and data2, so I can’t compare stock with Wyckoff Wave (ES, SPY or whatever)!

Is there a way to work this out?

I repeat, I’m beginner in programming, sorry in advance if this is stupid question.

Siks

Hi siks,

if you need a second datastream in the Multicharts scanner your options are pretty much limited to using external DLLs to send the data into the scanner. While I would say this is not overly complex, it certainly is a more advanced topic.

You might want to check the MC forums, as you are not the only one having this problem and there is a thread were you can vote for this feature to be added.

Multicharts.NET would be able to access a second datastream directly in the scanner, but that is a different program, different language and a different topic I guess.

Regards,
ABCTG

hi ABCTG,

thanks for info. I voted for this feature. Who knows, maybe MC will listen.

I checked MC forums - seems that Global Variables could be solution. At this moment this is beyond my programming skills. I need some time to study it...

Multicharts.NET language looks even more complicated so I am not thinking about purchasing it.

Thanks again!

siks

Well, originally my plan was to build different scanner, but since I don’t understand DLLs, Global Variables, MC.NET etc, I’m trying to help myself in most easiest way.

So I created scanner that is showing percentage of current and preceding swings. If I’m looking for stocks that are acting stronger than Index, I would check stocks that have stronger current up move and weaker previous down swing than the Index.

In this example those stocks are listed in lower part of scanner.

Of course, even better thing would be to compare last 3 or 4 swings, but I don't know how to do that...
If someone knows, I would be very thankful

siks

Hi Siks,

You might like to check out BullsEyeBroker 5 - I'm not here to promote them :-) as such. It is primarily a PnF charting programme and it has a built-in scanner. It also charts Regular and Wyckoff-style PnF correctly. I'm looking to buy it as it now supports real-time data and does regular bar charts too, as well as a heap of other functionality.

Might save you a heap of programming time, but then it won't be in Ninja!

Best
SS