This is an answer to a Question asked about how i Viewed price action. ( APRIL 19 2019)
I actually do it different than most others. I have 20 different windows I can click open. Four are hourly daily weekly and monthly windows. @ are Ichimoko and the remaining 14 are daily charts with indicators themselves having different settings.
This allows for viewing MACD, showing the action in less, More or any number of bars desired to analyze, rather than the standard 12 / 26 By just changing the chart to different time frame Standard MACD stii only assesses 26 bars of what ever frame your in.
With this system I can reduce it to desired length to analyzer the most recent fast action. Such as MACD set at 4 - 9 - 5 below the price chart it produces crossovers suggesting 4 hr scalps up to 5 day swing trades candidates, While at the same allows me to view the daily chart for resistance,
One indicator Scan I employ for long trade candidates.
MACD Scaling set centered on "0" Then
MACD 18 - 52 Below price history Daily,
MACD X up or above it's 11 day avg. Daily
MACD 12/26 moving up. Daily .
MACD Between -.05 and +.05 ( Decimal .05 Both Plus and Minus)
Volume Average over the last 40 Bars above 60,000 Daily
Volume Today above 100,000
Close Above Open
What I have done is used the indicator over an extended term to locate stocks which ave been in a previous down trend The daily setting allows to be viewed in real time.
I asked for a consistent 40 day Volume high enough to insure investors are aware of its potential.
Todays volume request is for a minimum of 100.000 or more to provide some velocity and suggest there is a demand for shares And it is trading up today.
Out of Canadian stocks from between 10 cents and $20 it brought up 20 candidates to examine for possible trades. A few are below.
(STC) Sangoma Tech
(GXS) Goldsource
(ESN ) Essential energy
( SVA) Sernova Which I expect to pull back to or near the 200 day Ma.
( IPO) Inplay Oil Making a run at the 200 Ma. price $1.23 Book Value $2.83 RG Presently in a resistance area from Nov / Dec 18. My expected target viewing Vol @Price 14%
With High Share counts for me they are possible trades Not investment criteria.
I like to view what is going on each day by altering the indicators it offers me a longer historical look at the cycle. The shortening the indicator in the same scan offers a more recent look. I do the same with other indicators
Basically look at chart history with the indicators of choice applied. I build a scan requiring it to bring up stocks where the condition is the same as where the stock viewed was a buy or short.
I use TC 2000 software It has preset scans like others. But unlike most others it allows the user to personally write real code into the scanning software, To produce exactly the conditions and charts a trader wishes to see for their personal trading style. and the market condition at he time.
After 20 years of subscribing, I'm beginning to understand it but still lots to learn.
The previous post describes another approach. I use on higher risk bottom fishing . |
