Custom watch lists
Author: tedpenner
Creation Date: 12/21/2016 4:50 PM
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tedpenner

#1
Is it possible to have custom watch lists in WLP or dev edition?
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Eugene

#2
While Dev edition is out of question for U.S. customers, what is your definition of "custom watch list"?
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tedpenner

#3
in thinkorswim you can set up a number of watch lists that represent things such as the biggest movers for the previous day. You can customize and code various parameters and have it list stocks in a certain order.
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Cone

#4
QUOTE:
you can set up a number of watch lists that represent things such as the biggest movers for the previous day.
You should be able to do that in ATPro, create a Watchlist of the results, and import the into WLPro (it's the 3rd option when you create a new DataSet for the Fidelity provider). Same idea for using the Fidelity.com screener. Note, however, that fidelity.com Watchlists are limited to 50 symbols.

You can also create complex screens with WLPro. See the WealthScript Programming Guide > Techniques > Creating a Screener
With WLP, you don't really create a Watchlist of the results, rather you generate orders that you can send to Fidelity directly.
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tedpenner

#5
Hi Cone,

Thanks again for your help. I hope you had a good Christmas.

Page 83 of this guide https://www.fidelity.com/bin-public/060_www_fidelity_com/documents/WLP_Programming_Guide.pdf talks about adding analyst rankings.

I'm looking to place a long term strategy like the one you have done some work on here https://www.wealth-lab.com/Forum/Posts/Backtesting-historic-predictions-of-optionable-stocks-38576, and then based on my choice from that list I would run your strategy.

I'm confused on how I would make that choice if there is no way to see the list or customize additional columns besides the one a ranking number of some kind.

Ideally, lets say that the ranking was from 1-5 with 1 being strong buy and 5 being strong sell. I think this is how Zacks does it.
Then let's say that I wanted to see the same type of list, but for this time last year.

I could take last years list, and back-test the strategy against that list, and have a better idea of what to do this year based on it.

Further assistance is greatly appreciated.
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Cone

#6
p. 83 has info on the Equity Summary Score (ESS).

For backtesting, creating lists is not a necessary step. If your "stock universe" is the S&P 500 stocks, you just need a DataSet (Watchlist) containing the S&P 500 stocks. When you execute a backtest on each symbol, the strategy determines which of those pass "the filter" based on the rules on any given date. In essence, the rules create a new "list" every day. So, the idea is to simply add rules (filters) to your existing strategy. Understand?

However...
Something always to be wary of when backtesting is that a list like S&P 500 stocks is frequently changing. There have been around 150 changes in S&P 500 in the last 6 years.
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tedpenner

#7
Thanks for that. I'm looking at the documentation, and I can see where you can see the score in chart, or trade based on it's values, but what if you wanted to make your decision based on several columns with that score being only one of them?

That is to say that the strategy would be partially, but not entirely automated.

I don't currently see a way to do that but I did find a screener on fidelity.com which allows you to do something similar.
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Cone

#8
QUOTE:
based on several columns with that score being only one of them?
Please be more specific about the columns. What "columns"?

Here's a simple strategy for Equity Summary Score that might help. It buys when ESS is upgraded to the bullish range (7.1+) and sells when ESS moves down into the neutral range (7.0-). Make sure that you've updated your data with the "Equity Summary Score" Fundamental Provider selected (Fidelity Wealth-Lab Pro only).

CODE:
Please log in to see this code.
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tedpenner

#9
I see. I'm talking about identifying certain symbols that meet a set of criteria. Once I decide on which ones to trade, I would then implement a strategy against them individually.