Swing trading setup detection via indicators?

[toli]

I'm working on an indicator that would tell me when a specific setup is happening. I'm interested in a setup with a given take-profit and stop-loss percentages, that, over time, produces more winning trades than losing trades.

So, you put in the system the market data - the indicators and the price info - and you get an estimate on whether your setup is happening or not.

Are there any readings or existing projects on such a thing that I can refer to? Which indicators would be good for this? Is there any other data that would be good considering, that is not in the indicators, and where do I get it?

 

[deaddog]

I use a chart scan engine (Stockcharts) That scans for set-ups that meet my criteria and risk reward parameters.
For example on a pull back trade, if my planned entry is the prior days high, my stop is the prior days low and my initial target is the swing high. I want a 1 to 2 risk to reward. I scan for stocks that meet that requirement.
(10 day max high-todays high)/ (todays high- todays low)> 2

 

[Big AAPL]

I use a chart scan engine (Stockcharts) That scans for set-ups that meet my criteria and risk reward parameters.
For example on a pull back trade, if my planned entry is the prior days high, my stop is the prior days low and my initial target is the swing high. I want a 1 to 2 risk to reward. I scan for stocks that meet that requirement.
(10 day max high-todays high)/ (todays high- todays low)> 2

A very simple yet effective approach. Thanks DD

 

[murray t turtle]

I'm working on an indicator that would tell me when a specific setup is happening. I'm interested in a setup with a given take-profit and stop-loss percentages, that, over time, produces more winning trades than losing trades.

So, you put in the system the market data - the indicators and the price info - and you get an estimate on whether your setup is happening or not.

Are there any readings or existing projects on such a thing that I can refer to? Which indicators would be good for this? Is there any other data that would be good considering, that is not in the indicators, and where do I get it?

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YOU may find some good help in IBD [William o' Neil]stock books, I did;
specifics are more than one would post from copyrighted books........................