- Joined
- 17 March 2011
- Posts
- 365
- Reactions
- 8
The scanning I do to pick up trade opportunities for four set ups:
1. Initial base breakout (long)
2. Continuation breakout (long)
3. Initial top breakdown (short)
4. Continuation breakdown (short)
I've entered in some coding for AmiBroker that allows me to scan the ASX for all stocks hitting 12 month high, or 12 month low setups (generally catches all of the above setups). The scan can be done on daily charts or weekly charts and it scans the whole market in about 15 seconds and provides a nice table of both short and long plays.
This has been a big innovation to my scanning method and automating things rather than doing it manually which would take hours on the weekend.
The results then allow me to do a deeper analysis of each individual chart to assess risk and reward.
If there's any sub $1 stocks that show-up that you haven't already covered, I'm happy to let you know about them but not sure they meet the "micro-pattern" criteria. Perhaps better for the momentum thread?
1. Initial base breakout (long)
2. Continuation breakout (long)
3. Initial top breakdown (short)
4. Continuation breakdown (short)
I've entered in some coding for AmiBroker that allows me to scan the ASX for all stocks hitting 12 month high, or 12 month low setups (generally catches all of the above setups). The scan can be done on daily charts or weekly charts and it scans the whole market in about 15 seconds and provides a nice table of both short and long plays.
This has been a big innovation to my scanning method and automating things rather than doing it manually which would take hours on the weekend.
The results then allow me to do a deeper analysis of each individual chart to assess risk and reward.
If there's any sub $1 stocks that show-up that you haven't already covered, I'm happy to let you know about them but not sure they meet the "micro-pattern" criteria. Perhaps better for the momentum thread?