This is my current filer
Filter = ((Cross(C,Ref(HHV(C,40),-1)) AND C>O AND H>MA(C,40)) OR (Cross(Ref(LLV(C,40),-1),C) AND C<O AND L<MA(C,40)))
AND C < 7
AND MA(V*C,10) > 500000;
AddColumn (C,"Close");
AddColumn (V,"Volume");
AddColumn (V*C,"Liquidity");
So
- Crossing above the HH of last 40 days AND close greater than open AND the high being greater than the 40 day moving average
OR
- Crossing below the LL of last 40 days AND close is less than open AND the low is less than the 40 day moving average
- Closing price less than $7.00
- Liquidity > 500,000
At the moment I am simply running this scan on the All Ords each night. I then also run it for the previous 3 days to see if there has been any confirmation of a breakout/move.
I am looking to create a couple more scans to see what works best. Does anyone have any opinions on this? Maybe ones to identify potential breakouts rather than actual breakouts? (or maybe patterns following breakouts)
Any help at all is much appreciated.
Also is having the Close< $7.00 on my current scan too restrictive? I am trying to trade stocks with reasonable volatility to make the most of the breakouts. Should I change this part of my formula?