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Registered User
Joined: 10/3/2005
Posts: 49
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I want to set up an easyscan for stock that may breakout from say a triangle could you advise me please,thank you
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Worden Trainer
Joined: 10/1/2004
Posts: 18,819
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Check out the method I give in the post below to find stocks in a potential triangle formation:
PCF's for Triangles
- Craig
Here to Help!
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Registered User
Joined: 10/3/2005
Posts: 49
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Thanks Craig
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Worden Trainer
Joined: 10/1/2004
Posts: 18,819
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My pleasure... let me know if you need any more help. You know where to find me!
- Craig
Here to Help!
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Registered User
Joined: 10/3/2005
Posts: 49
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Hey Craig, i have added the PCF's and still have a lot of stock that arent triangles can u recommend anything else i have values at min to max and ranked at 1 to 99,thanks Martin
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Worden Trainer
Joined: 10/1/2004
Posts: 4,308
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Check the link again:
PCF's for Triangles
Pay very close attention to the values Craig mentions for the PCF's in your EasyScan. None of them say to set values from MIN to MAX, or ranks from 1-99. I think if you set your values correctly, that will eliminate a lot of the stocks that don't look right to you.
Also, make sure your PCF's are updated through the current date.
- Doug
Teaching Online!
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Worden Trainer
Joined: 10/1/2004
Posts: 18,819
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It depends on what type of triangle you are shooting for. Try these limits
For potential ascending triangles:
WatchList (ALL STOCKS)
Price Per Share (limit based on your trading)
Volume 90-day (limit based on your trading)
High's slope 40 day (VALUE 97 to 103)
Low's slope 40 day (VALUE 101 to MAX)
For potential descending triangles:
WatchList (ALL STOCKS)
Price Per Share (limit based on your trading)
Volume 90-day (limit based on your trading)
High's slope 40 day (VALUE MIN to 98)
Low's slope 40 day (VALUE 97 to 109)
For potential wedge/symetrical triangles:
WatchList (ALL STOCKS)
Price Per Share (limit based on your trading)
Volume 90-day (limit based on your trading)
High's slope 40 day (VALUE MIN to 98)
Low's slope 40 day (VALUE 102 to MAX)
Play around with the condition type VALUE limits. The idea is to limit based on the overall direction of the highs or lows over the time period. Not all the stocks will fit your pattern but it will reduce the list nicely and your eyes and the spacebar can quickly do the final scan.
- Craig
Here to Help!
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