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Worden Discussion Forum » General Discussions » Stock and Market Talk » Tobydad - a request
Tobydad
This not quite what I am looking for. I am sure I could search for Tobydad Profile and extract what indicators you use in each window, but it would require a lot of time and effort. I am inherently lazy (not exactly lazy - born tired and never got rested) so if you would post here which indicators you put in which window it would save a lot of time.
OK, let's see if I can get you what you're looking for: Indicators: I only use 2 windows (I just like the bigger windows and less to try to focus on...I'm too easily distracted). F12 template, daily shift-5 sets the scale but I can't remember what that's called. top window: candlestick; BB20,20 solid lines; BB13,10 dotted lines; MA20 simple dashed lines; MA 50 simple solid line Lower window: TSV26 exp solid lines; BB13,10 solid lines; MA13 simple dotted lines; Volume bars (light colors for visibility); MA6 simple on volume; OBV solid lines F1; daily, hit shift-1 three times for the scale; top window: candlestick price, not indicators (sometimes I think it's good just to look at a naked chart and see what you see) bottom window: OBV; LR255 on OBV; volume (not visible); MA10 simple on volume There are other templates I use but primarily for learning and confirmation. The two above are my primary selection tools. Scans: It depends on market conditions. One of my favorites is the 200ma breakout: C250 < AVGC200.250 AND C150 < AVGC200.150 AND C50 < AVGC200.50 AND C5 > AVGC200.5 AND C4 > AVGC200.4 AND C3 > AVGC200.3 AND C2 > AVGC200.2 AND C1 > AVGC200.1 AND C > AVGC200 Sort by the LR30 on price. When you get your sorted list, click on the arrow to the right of the "Sorted by... xyz..." at the top of the watchlist so it inverts, then press the "Home" key. Now you're looking for charts with, preferably, a doji or hammer close to the LBB20 and with as much direct support from the LR30 as possible. TSV26 should be coming hard up through the LBB13 (in good markets), up through the MA13 in mediocre markets and up over the UBB13 or, better yet, the 0 line in poor markets. If you get a shot of volume along with the TSV surge, so much the better but not absolutely essential with this technique. Look for price to break above the high of the previous day and you've got a buy signal. If you're unsure, buy 1/4 your desired position and see what it does. If it breaks out hard, add to it. If it drops to around the low of the previous day, I usually will still buy more, especially if the rest of the chart looks good (trendlines, etc). The evaluation techniques depicted in the screen shots earlier in this thread are very useful in seeing where you find yourself in the progression of these stocks. This is where apsll's VSA or something akin to it (I've discussed permutations on various threads, you could search by "volume"...if you ever get rested up that is.... :) .... comes in handy. Additionally, it must be understood that this scan is, typically, going to produce a universe of stocks that must be watched. You may not find much that is ready for flight right off the bat (especially in a depressed market). But the good part is that you can frequently find stocks that have broken upward out of a long term down trend, and may be getting ready to move up. BIG NOTE: Again, keep in mind that sometimes, we're going to get into some moves that are just a quick profit and then get back out. It may not be the time yet, but there are, frequently, quite a few quick profits to be had while watching for the big one. Here's another BIG NOTE: There may never be a "big one". That's OK, I mean, who cares? If a stock has gotten out of a down trend and is now trending up and we ride it up every time that it bounces off of support, well, is that so bad? Well, that should be enough to play around with for starters. If there's interest, I'll add some other scans and a little further discussion but let me, first, see if I'm hitting on your interests before going any further. ...born tired and never got rested....funny, very funny.
Thanks Tobydad This is exactly what I need,
Scott
Could you post a larger picture of your avatar so we can see the finer points of the sculpture?
There you go. Not shure who the original sculptor is. But it's good work
I lile this setup very much.
I set iy up as you suggested with thesr additional indicators
I added your 200ma breakout as a %true indicator (dark blue, invisible) in the top window. I sort my watchlist on this and choose the stocks which return a value of 100. This gives me a lot of flexibility in my choice of watchlists.
I also added volume spike (V>1.25*AVGV30) as a %TRUE indicator in the bottom window. This gives me an immediate idea of volume.
I ran this against my 1 to 10 dollar watchlist (1021 stocks). This setup returned 24 candidates of which one is suitable for consideration.
It is END. It bounced off the LBB20.20 on 04/03, closed over the previous day’s high on 04/08. It is also bouncing off the MINL10. TSV26 is cr0ssong up through it’s MA13 at TSV26 EQUA ZERO.
Four indicators confirming each, I think, is good enough for a buy signal.
I got in at 1.30. Target 1.88 Reward 1.88-1.32 = 0.56 (check weekly chart for resistance). Stop 1,28, Risk 1.3.1.28 = 0.02. Reward/Risk 0.56/0.02=28.0.