PREMIUM PLUG-IN

Woods Float Turnover Tool

What's that Gray Box with the two Red Lines all about?
The fundamental building block of all Float Charts is called its Float Turnover. This is the time it takes for the stock's cumulative volume to equal the number of shares available for trading (the float) and the price range of same. The Gray Box is the stock's float turnover. The red lines are the highest and lowest prices reached during the float turnover. The Float Box is constantly changing (like a moving average) from one day to the next. At bottoms, it tends to be long and flat. At tops it is often tall and thin. On days when the price penetrates above (breakouts) or below (breakdowns) the top red line or the bottom red line, the price is allowed to be seen penetrating through the previous trading range. Thus on breakout and breakdown days the size of the box is NOT adjusted to accommodate the new breakout or breakdown bar but is left at the previous levels so that the red lines can be used as trigger alerts and so that we can visually see the breakout or breakdown clearly on the chart.

The StockShareV2 software has dynamic charts that are updated every twenty minutes. It has no alert capability (scans and alerts are available at FloatCharts.com). The Float Box is also dynamic as it can be dragged into the past to study float turnovers at different points on the chart. The channel lines are also dynamic because you can set them to whatever percentage of the float you want.

Woods Float Channel Overlay

What are the Solid and Dotted Channel Lines all about?
The solid channel lines are the stock's upper and lower float channel lines. These are created by plotting the upper right and lower right corners of the Float Box on a day to day continuum. Thus they plot the float boxes history and show previous breakout and breakdown points clearly. The dotted channel lines are the 50% float channel lines and they are plotted by using a Float Box which uses only half the float number.

Woods Float Percentage Indicator

This study is useful in illustrating how much of the float volume has been consumed over a selected period of time and to trigger an alert when one complete float turnover has occurred since the selected starting date.

This tool is fantastic at alerting you to price reversals. Research of stocks making fast runs to the upside has shown that price reversals often occur after 100 % of the float has traded hands. The indicator creates a histogram that tracks the percentage of the float that has traded from any given date. It gives an alert when 100% (or any percent you request) of the float has traded. It is used primarily to measure price "extensions".