MACD/Trendline Swing Trader

Hey Retire, reading about your trading is a breath of fresh air and gives hope and inspiration to those who are still struggling. I appreciate you explaining your thoughts that go into your trades.

My issue is that I have been too complicated in my screening of stocks with about 10 - 15 requirements to have a potential stock to trade. Can you give insight as to what you look for in scans and about how many triggers do you set to find the "right" stock.

Also I have been scanning high volatile stocks in hopes of getting a quick upwards break but this seems to be to risky and inconsistent. Any help in how you scan volatility would be greatly appreciated.
 
The Telechart scan is not complicated...

C > O AND C > C1 AND C > (L + H) / 2 AND ( (C > AVGC7 AND H >= MAXH3 AND (AVGC2.1 < AVGC2.2 OR AVGC2.2 < AVGC2.3 OR AVGC2.3 < AVGC2.4)) OR (C1 < O1 AND C2 < O2 AND STOC5.3 < 40) OR (STOC5.3 < 30) )

AVGC7 = 7 day simple ma
AVGC7.2 = 7 day simple ma 2 days ago

If run on the full universe of stocks it will return way too many so volatility and Volume requirements in Telechart do a great job of thinning things down. I have found Telechart's volatility scan to be the best around in that it is not the common Beta scan which seems to be based on daily volatility rather than swinging volatility. Usually 50 to 100 return and 3 seconds or so viewing each is all you need. I also scan my own list of about 90 stocks which I always look through first.. I have used MACD in scanning but I find I prefer to make that call myself.

It really helps to make a list of reliable stocks and focus on those. If the list is small enough you don't even need to scan it. Assuming it covers all the key sectors (3 from each) you are not missing anything by ignoring the rest of the universe.

All about becoming more of a specialist and doing the VERY mundane task of looking under each rock EVERY day which is strangely difficult. There is almost always something out there whether or not you are in the mood as a Trader.
 
Centex Homes.... Quite a Large setup... Last 6 months the patient has been periodically revived with hope due to rate cuts which "usually" work. If it breaks out of this weekly pattern who knows where she goes. Weekly MACD quite negative.
 

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Quote from retire45:

The Telechart scan is not complicated...
More...

How do you rate the strategydesk scan as a substitution to the telechart scan if I do not have telechart? I use the strategydesk backtest scan as my primary scanner.
 
The only reason I occasionally still use Telecharts is because it is so nice when it comes to ease of use and list management. Most of the time I use Strategy desk to scan a list from a Telechart Volume, Price, and Volatility scan. As Strategy desk is slow compared to Telechart I try to keep the list less than 500 stocks..
 
Thanks a lot for sharing your scan formula. Is the AVGC2 in your formula 2-day MA or should it be AVGC7?
And my guess is the formula is for both short and long?

Quote from retire45:

The Telechart scan is not complicated...

C > O AND C > C1 AND C > (L + H) / 2 AND ( (C > AVGC7 AND H >= MAXH3 AND (AVGC2.1 < AVGC2.2 OR AVGC2.2 < AVGC2.3 OR AVGC2.3 < AVGC2.4)) OR (C1 < O1 AND C2 < O2 AND STOC5.3 < 40) OR (STOC5.3 < 30) )

AVGC7 = 7 day simple ma
AVGC7.2 = 7 day simple ma 2 days ago

If run on the full universe of stocks it will return way too many so volatility and Volume requirements in Telechart do a great job of thinning things down. I have found Telechart's volatility scan to be the best around in that it is not the common Beta scan which seems to be based on daily volatility rather than swinging volatility. Usually 50 to 100 return and 3 seconds or so viewing each is all you need. I also scan my own list of about 90 stocks which I always look through first.. I have used MACD in scanning but I find I prefer to make that call myself.

It really helps to make a list of reliable stocks and focus on those. If the list is small enough you don't even need to scan it. Assuming it covers all the key sectors (3 from each) you are not missing anything by ignoring the rest of the universe.

All about becoming more of a specialist and doing the VERY mundane task of looking under each rock EVERY day which is strangely difficult. There is almost always something out there whether or not you are in the mood as a Trader.
More...
 
Quote from robottrader:

Thanks a lot for sharing your scan formula. Is the AVGC2 in your formula 2-day MA or should it be AVGC7?
And my guess is the formula is for both short and long?
More...

It is 2-day MA (or any other criteria to indicate recent weakness.).. Same for shorts..
 
Quote from retire45:

If run on the full universe of stocks it will return way too many so volatility and Volume requirements in Telechart do a great job of thinning things down. I have found Telechart's volatility scan to be the best around in that it is not the common Beta scan which seems to be based on daily volatility rather than swinging volatility. Usually 50 to 100 return and 3 seconds or so viewing each is all you need. I also scan my own list of about 90 stocks which I always look through first.. I have used MACD in scanning but I find I prefer to make that call myself.
More...

Thanks for the prompt and helpful reply. Two questions I still have:

1) You have mentioned you like stocks that are more volatile on a weekly basis, and less so on a daily basis. How is Telechart better than Strategy Desk at screening the volatility. I'm confused when you say "daily volatility" vs "swinging volatility".

2) It seems you have your "favorite stocks" that you prefer to trade and like to stay away from "strays". How often and why do you scan the broader market?

Thanks,
 
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