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--- In amibroker@xxxxxxxxxxxxxxx, "protraderinc" <protraderinc@xxx>
wrote:
>
> Hi,
>
> Can a scanner or explorer be written out of the following criterias?
>
> Its a basic MA system I used for forex but want use the idea in
stocks.
> Simple MA use are 30, 50, 100 SMA. For easy illustration, we will
only
> talk about uptrend buy signal
>
> - The ma must stack with 30sma to be the first,follow by 50 then 100
> uptrend buy signal. Vice versa for sell signal.
>
> - Charts to appear in scan should have price within the 30 and 50
SMA
> zone. Price can just have the shadow touching 30sma to be included
in
> the setup.
>
> - If price close 1 bar below 50sma, I'll consider it to be a riskier
> trade. I'll will watch out if it bounce off the next day. If not
I'll
> void the setup.
>
> I usually visually check the chart for such setup. Very difficult
to go
> thru all for stocks :(
>
> The idea for this strategy is to find those trending stocks and
buying
> those that bounce off from the 30-50sma zone. if price drop with a
long
> candle cutting thru and close below 50sma, in order to enter we
need it
> to bounce off asap and take the buy signal. If it hang around the
area
> below 50SMA or around it I'll void the setup. To take the trade
simply
> you can use price action to time your entry. Such as breakout from a
> short term down trendline, MACD Default setting: minimum 4 down
> histogram bar and signal entry on the up histogram bar in the SMA
Zone.
> Or if price is already in the zone and there is a small
consolidation in
> the zone, Buy at the break of the range top. Plenty of ways to
trade.
>
> Hope someone can help construct this SMA scanning criteria.
>
> I'll try to post some snapshots of how such setup can be profitable.
>
> Dave
>
Sure, I know this trade.
A way back I paid around USD$300-400 for a variation of it and I
spent plenty of time studing the intracies (I won't say if it is a
good trade or not but I got my moneys worth out of the study anyway).
I am like CarlaCash - I see better when I am standing on my feet, and
not my head, so unless Carla shares her upside down chart method I
will stick with the bulltrade (don't worry Carla I have also had the
silly idea, in the past, to reverse charts upside down for bear
trading).
As an aside, I am inclined to the theory that there is only one trade
we can make and everything is a variation on it (like the Zen 'One
Mind' or the Moody Blues 'Search For The Lost Chord') and this trade
contains all the elements of 'The One Trade' (the exceptions are
things like arbitridge trading, mispriced options etc).
Anyway, back to the story.
The 'Raw Signal' for this setup is the conjunction of bullish MA's
and the bar crosses the MA from above:
1) for any MA the ROC(Field,Periods) > 0 is an easy way to filter for
that condition,
2) for the move into the 'zone' from a bull run the filter is that
the prevous low is > short MA and the current low is < short MA.
So that filter will give you those stocks that are pre-empting your
specific setup. That list will considerably shorten your search.
After that it comes down to what conditions you are going to apply to
your entry (and there are quite a few of them). With this trade that
is where the fun starts. Once the current bar is in the 'zone' what
conditions will you use to filter that list of stocks down to the
short list or the one or two that you will take.
You are using one condition?
That the close of the bar must not be below the 50 MA?
There are a few others to think about as well (that is where I spent
a lot of time)- does it make any difference?
Anyway, assuming I have understood you correctly, that is the
starting point.
Thanks for sharing your example trades.
I can't resist having a look when other traders are generously share
their experiences.
BTW - what's the difference between Forex and Stock patterns?
They all look the same regardless, don't they?
Underlying qualities like standard deviation etc will vary though.
brian_z
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