RE: US Stocks - Watchlist and Discussion
(2018-05-06, 08:36 PM)badcharts Wrote: You think this is possible scan to do? I guess we would need to start creating a list of "known" stocks that have broken out (triply confirmed) and have a scan check the behavior for the next 1 to 3 months. When price gets back to x% from breakout line, calculate average vol for red candles and compare to previous green candles after breakout.
I think it's possible, but with the scans you have to limit the amount of variables that you put in to get good results. As your eyes are what ultimately does the best scans with Weinsteins method. So I find it best to use a scan with a few key variables that will produce a hundred or so results and then manually go through the charts to find the potentials.
For the scan you are looking for I'd suggest scanning for a touch of the 50 day MA, but daily close above it, in a stock that has a rising 150 day MA and made a new 50 day high in the last month, with lower than it's 50 day average daily volume. This a quick idea, but think it might give you some reasonable results and then could be improved.
isatrader
Fate does not always let you fix the tuition fee. She delivers the educational wallop and presents her own bill - Reminiscences of a Stock Operator.
Fate does not always let you fix the tuition fee. She delivers the educational wallop and presents her own bill - Reminiscences of a Stock Operator.