I use this formula to scan for Weinsten-like bases. It returns a lot of charts, though, so I'd be interested to read suggestions on how one might narrow the field a little. Here's the formula:C >= (AVGC150 * .9) AND C <= (AVGC150 * 1.1)This formula will find all stocks within 10% of the 150-day moving average. I know that Weinstein's methodology is not just about that particular moving average, but I figured it was as good a place to start as any in a search for stocks moving from "stage one" into "stage two." When using the formula for a scan, I further narrow the search by setting minimum price and volume requirements.Does anyone else who is familiar with Weinstein have any ideas for narrowing the search? Any other criteria that you feel should be added?Peace,dreamer
Dreamer,Here's what I've been using for that....(AVGC10 > AVGC150 ) AND (AVGC10.2 < AVGC150.2) AND (C > AVGC10 )It basically looks for a crossing of the 10 DMA and 150 DMA sometime in the last 2 days. I also have a screen called MA Turnaround which is...(AVGC150.30 < AVGC150.60) AND (AVGC150 > AVGC150.10)I need to work on this a little more because it catches a lot of stocks that in experiencing an IT turnaround in the midst of a LT downtrend. Gary
dreamer: Your scan may hold some real promise. When I was trying to set up scans to implement the Weinstein model (see another post on this board), I actually took the model as outlined in his book and laid it out on paper. Then, I tried to fully understand each part, and then tried to express that part in terms of a formula. The major problem was creating a formula to represent the kind of declining 150d his model describes. How long, how deep, and when it starts to flatten out, how flat, etc. But I really like your idea of looking for stocks under a declining 150d MA and starting to move up toward it, within 10% or so. If we were to combine that with some short-term MA's we might start getting somewhere. As noted in my letter to the Wordens, I'm a pretty big fan of TC2000 as a trading environment in that it will allow you to do most anything you want as long as you can express it in terms of a formula. I thing you may be on to something. As with Gary's post, I hope one or both of you crack this one open and hit a home run. Best of luck.-tradermike
. I thing you may be on to something. As with Gary's post, I hope one or both of you crack this one open and hit a home run. Best of luck.I just ordered the trial copy of this software. As an engineer, all of these equations are giving me a woody!!! ;-)I look forward to trying out the software and eventually cranking out some equations on my own. I hope ya'll don't mind if a post a question from time to time.
I think one thing you could do to filter out the list is put in an adx like indicator to only get the strongest trending stocks that are basing. I found a decent adx like scan at http://www.tradeon.com
Best Of |
Favorites & Replies |
Start a New Board |
My Fool |
BATS data provided in real-time. NYSE, NASDAQ and NYSEMKT data delayed 15 minutes.
Real-Time prices provided by BATS. Market data provided by Interactive Data.
Company fundamental data provided by Morningstar<