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
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 :
