Dylan
I hope you have now had time to read up on the Tech/a system
it is very important that you understood the evolution and refinements of the system, such as the filters used
You will not read how individuals also further refine their candidates buy trading only ASX 200 and 300 stocks this is going to provide less but safer trades....
So here is the Metastock Formula I use:
First up ,in the indicator builder you need to create a new indicator named (liquidity) and enter this into the formula
.......................
Mov(V * C,21,S)
.......................
Then In Explorer, enter New
Name it,
and in the filter only , enter:
.............
Cross(H,Ref(HHV(H,10),-1)) AND H>Mov(C,40,E) AND HHVBars(H,70)=0 AND C<10.00 AND C>O AND Fml("Liquidity")>500000;
.................
This formula run on last weeks closing data returned
Code Description Last/IAP +/- % Bid Ask Open High Low Trades Volume Ex-Date
MNM MANTLEMIN FPO $0.099 $0.023 30.3% $0.097 $0.099 $0.082 $0.105 $0.082 240 11.26M
SEA SEA LTD FPO $0.835 $0.075 9.9% $0.825 $0.835 $0.795 $0.835 $0.790 151 699672
ADO ANTEO FPO $0.085 $0.003 3.7% $0.084 $0.085 $0.081 $0.085 $0.078 63 4.56M
MDL MINDEPOSIT FPO $5.490 $0.150 2.8% $5.470 $5.490 $5.380 $5.500 $5.380 47 4391
ASL AUSDRILL FPO $3.050 $0.050 1.7% $3.040 $3.050 $2.970 $3.050 $2.970 187 159303
ACB ACAP RES FPO $0.600 $0.000 0.0%
The trading rule is that the buy trigger is set when the stock price rebreaks fridays price, as a lot of the candidates can retrace and may take up to another week to trigger....
There are a lot of stoploss settings you can use, Dont forget to set up your stoploss before entering the trade.
I like using Richard Dales Volatility Based Stoploss as you can back test it on each stocks previous volatility ranges...
You will find it at http://www.tradernexus.com
later
john
PS heres another one that picks stocks recovering after retrace.
In indicators, create New, named "TECH/A"
enter :
...........
(PDI(8) - MDI(8)) - (PDI(21) - MDI(21))) + (PDI(13) - MDI(13))
..............
Then in Exporer create New, Name it...
and in each of the respective columns enter the below
..............
ColA: Close
ColB: Fml( "TECH/A" )
ColC: Ref(Fml( "TECH/A" ),-1)
ColD: OscV(21,81,E,%)
ColE: Ref(OscV(21,81,E,%),-1)
ColF: Mov(C,180,E)
Filter:
colB>colC AND colB>-40 AND colB<30 AND colD>colE AND colD>-40 AND colD<30 AND V>Mov(V,50,E) AND C>Ref(C,-1) AND C>colF
cheers
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