4th String catches 100 %R above the oversold 50 %R. Is sometimes good for a short-term trade even if the price is above the bottom lane provided that the LRC is rising.
I added a 50-day Percent R. If I buy when they're both oversold, sometimes they both get to overbought and then some, sometimes the 20 gets to overbought but the 50 doesn't, sometimes the 20 doesn't make it to overbought, but it made sense to me to have it.
I added a 600,1 LRC to make a four-lane and did away with Turtle Channels.
"Go long in stocks in or below the bottom lane of a rising Linear Regression Channel complex and set strike prices according to the MACDs. Expect the price to cross the 20-day moving average or the nearest higher LRC...
I was experimenting with indicators and it seems to me 55-day Turtle Channels with a 55-day moving average are useful for determining a reasonable length of time you can exploit a Linear Regression Channel/Turtle Channel breakout: expect the price to cross the 55-day moving average eventually...
I wanted a way to find a few more stocks near the bottom, so I put in a Chuck Hughes Keltner Channel and a 20-day Percent R for some stocks to search through.
I remembered what Chuck Hughes said about 52-week highs, so I put 52-week price change in, which got rid of downhill and sideways LRCs.
Then I put in 9-month price change and 200-day moving average, which got rid of stocks in the top standard deviation.
On the theory that it's hard to argue with a 600-day Linear Regression Channel.....
Screener setting to get mostly upward LRCs.
Screener results to choose from.
The sort of chart I'm looking for for covered calls.
Downhill and sideways LRCs should be rejected as you'd be fighting an...
I'm doing about the same but I put in a real Barchart Awesome Oscillator. Buy screened stocks on a red histogram and sell calls until it's called away profitable or sell upon reaching a green histogram. I'm bottom-picking, but I'd rather do that than miss at top-picking and have a good stock...
I use a 5-day MACD and get in before the 20-day MACD turns positive now. Can often get an ITM weekly covered call assigned at a profit even if the market is moderately bearish.
I decided the 1,50,50 doesn't really work, so I put in a 20,1,20. I buy when the 1,20,1 and 1,50,1 are both upturned and according to the BLSH screener and I manage the position by reading the 1,20,20 and 20,1,20.
Getting rich by trading is a full-time job. For the non-trader, if there isn't any financial instrument worth a long-term buy-and-hold, you might as well put your money in the bank.
Look for an accumulation cylinder in the 1,20,20 and an accumulation cylinder forming or almost forming in the 1,50,50.
No accumulation cylinder, no deal.