This system isn't mine, but the owner ( Raider ) says its good for 67% hits on the ASX.
Can it be improved? The software is Insight Trader but any metastock type program can be adapted. I havent shown the code, just the wording.
Here is what he showed us the other day without the code.
Volume greater than 300,000
Shares from .01 to $1.00
Opening price greater than day before
Closing price greater than open
Low price of day is greater than day before
Volume is greater than day before
Money flow index for last 8 days is greater than MFI of 8 days minus 1 day
Now what other indicator/s can we throw in there to get us a better result?
I will post the results of your scan, providing not too many.