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
