robmat23

((((C<O)*C)+ ((C>O)*O))*(-1))-L>=(H-L)*0.75

This part of the PCF finds the Japanese CandleStick Hanging Man

. a &lsquo;special case&rsquo; of the Dragonfly Doji

AND (H-L)>(AVGH21-AVGL21)

This part is a Western attempt at a Wide Range Bar &ndash;

the most current bar&rsquo;s range is greater than the 21-day average range.

Japanese CandleStick Pattern: Paper Umbrella

Bottom Reversal patterns (found at the end of a STRONG downtrend)

Hammer
(((H-L)>3*(O-C) AND
((C-L)/(.0001+H-L)>0.6) AND

((O-L)/(.001+H-L)>0.6)))

Hanging Man
(((H-L)>4*(O-C)) AND

((C-L)/(.0001+H-L)>=0.75) AND

((O-L)/(.0001+H-L)>=.075)))

Top Reversal patterns (found at the end of a STRONG uptrend)

Hanging Man PCF
(((H - L) > 4 * (O - C)) AND

((C - L) / (.001 + H - L) >= 0.75) AND

((O - L) / (.001 + H - L) >= .075)))

Shooting Star PCF
(((H - L) > 4 * (O - C)) AND

((H - C) / (.001 + H - L) >= 0.75) AND

((H - O) / (.001 + H - L) >= 0.75)))

ejr39

johnic,

You should be using Day Trader's Advantage (DTA)

In the following PCFs, adjust % and timeframe to fit your style.

PCF Name: Bull DTA(2% 15 days)
(- 1) * ((H > O*1.02) +
(H1 > O1*1.02) +
(H2 > O2*1.02) +
(H3 > O3*1.02) +
(H4 > O4*1.02) +
(H5 > O5*1.02) +
(H6 > O6*1.02) +
(H7 > O7*1.02) +
(H8 > O8*1.02) +
(H9 > O9*1.02) +
(H10 > O10*1.02) +
(H11 > O11*1.02) +
(H12 > O12*1.02) +
(H13 > O13*1.02) +
(H14 > O14*1.02))/15*100
Test for Syntax Error. Save

PCF Name: Bear DTA (2% 15 days)
(- 1) * ((L < O*0.98) +
(L1 < O1*0.98) +
(L2 < O2*0.98) +
(L3 < O3*0.98) +
(L4 < O4*0.98) +
(L5 < O5*0.98) +
(L6 < O6*0.98) +
(L7 < O7*0.98) +
(L8 < O8*0.98) +
(L9 < O9*0.98) +
(L10 < O10*0.98) +
(L11 < O11*0.98) +
(L12 < O12*0.98) +
(L13 < O13*0.98) +
(L14 < O14*0.98))/15*100
Test for Syntax Error. Save
Calculate for: All Items In System
Update All Criteria

EasyScan
WatchList to Scan: Common Stocks
[Add Condition]s
. Price per Share (affordable)
___ adjust Range Selector &hellip; VALUE &hellip; 5 to 100
. Volume 90-day (liquidity)
___ adjust Range Selector &hellip; VALUE &hellip; 2000 to Max
. Volume 1-day (still alive)
___ adjust Range Selector &hellip; VALUE &hellip; 1000 to Max
. Percent Shares Held by Institutions
___ adjust Range Selector &hellip; VALUE &hellip; 1 to Max
Save. Name: Prequalified Stocks ES WL. Scan Charts.

On the Main Chart Screen,
WatchList to Scan: YOUR Prequalified Stocks ES WL
. Sort by: IF trading LONG, Bull DTA(2% 15 days)
. . . . . .IF SELLING SHORT, Bear DTA (2% 15 days)
. Sort by Tab #n
__ Column 1 heading: Symbol
__ Column 2 heading: Price vs. 200 Day Moving Average
. . IF trading LONG, Price vs. 200-dma Value > 100
. . IF selling SHORT, Price vs. 200-dma Value < 100
__ Column 3 heading: Sort Value

From Column 3 find those equities with a 100 % Sort Value
(or as high as possible for the greatest chance of success)
______

Entry and Exit(s)

. Enter at tomorrow&rsquo;s OPEN

. EXIT RULE (written in stone): Don't get greedy!
Take the 2% profit and exit.
. Suggested IPS Exit: Pivot Points S1 or S2
. Time Exit Rule. This is a DayTrade, exit before the closing bell.

Test this strategy for a few days to get a feel for it -
the strategy doesn't fit everyone's style.

- - - - -

One can earn a very nice return using this strategy!

Example using the 2% DTA formulas
A 2% profit on a $100 equity or $2 * 100 shares = $200
A 2% profit on a $10 equity or $.20 * 1000 shares = $200
. Same $10,000 investment with the same return.
. The brokerage and other fees will probably be the same for
each trade

A $200.00 profit per day for 20 trading days (one trading month)
is a $4,000 profit

AND money management is simply knowing how much money you
have earmarked for a given trade. 

Trade well and prosper

ejr39

Craig;

Your original request:

&ldquo; i am new to stockfinder wanted to know which indicators would be best to use in the beginning ...
i have basic investing skills how to read candles and some indicator knowledge ... but i want to start off using two or three indicators with my CandleSticks, what indicators would work the best for reading the market?&rdquo;

The first 3 indicators in any strategy are

. PRICE

. VOLUME

. TREND

In CandleStick psychology

The TREND is

. UP: Bullish or Buy Side Phases

. DOWN: Bearish or Sell Side Phases

Buy Side Phases
. Bullish Phase; Accumulation Phase

__ Bullish continuation patterns

. Recovery Phase

__ Bullish reversal patterns

Sell Side Phase
. Warning Phase

__ Bearish reversal patterns including the

. Distribution Phase, Bearish Phase

__ Bearish continuation patterns

__________

Write your own PCFs for &lsquo;perfect&rsquo; Candlestick patterns.

. Writing and studying &lsquo;perfect&rsquo; patterns sharpens one's pattern recognition skills i.e. "mind / eye" coordination.
. The &lsquo;perfect&rsquo; patterns won&rsquo;t be biased by someone else&rsquo;s thinking

. Avoid &lsquo;candlestick generators&rsquo; &ndash; YOU learn very little if anything about Candlestick construction

&lsquo;Perfect&rsquo; Candlestick patterns are explained and illustrated in

Candlestick Charting Explained

By Gregory L. Morris

FREE download at

http://www.4shared.com/get/72834487/b98542d8/Candlestick_Charting_Explained.html

If you need a little help writing the PCFs, a PCF collection -

CandleStick PCFs plus - is archived at

http://finance.groups.yahoo.com/group/Telechart_TCNetUsers/files/Primers/CandleSticks/

As you&rsquo;ll learn, not every pattern is tradable.

Improve the odds with

. moving averages

. support and resistance levels

. volume

PAIN (Price Action INdicator)

PCF Name: PAIN

((C - O) + (C - H) + (C - L)) / 2

http://www.forexrealm.com/technical-analysis/technical-indicators/price-action-indicator.html

If you are trading long at or near the close, look
for a sign that equity is being held overnight

((C-L)/(.0001 + H-L))

(Range Selector or Sort Value: 80 or greater)

Volume % Change

((V - AVGV50) / AVGV50 * 100)

(Range Selector or Sort Value: 120 or greater)

Price % Change

((C - C1) / C1 * 100)

Anything else is a Western indicator.

You&rsquo;ll have to use your own experience and judgement.

Trade well and prosper

ejr39