Screened Selections??

waldorf

1
141 1
Hi, Thought i would share this with you all, using a candlestick chart and screening 500+ shares took about 1/2 hour, selected the following ..................PIC-AHT-SYP-PILK-BBG-LNX-PRH-JPR-EMA-WEIR-BPB........... ignored a lot of the big boys, just to find out how they really do, without fooling myself.
Most selections are positive on stochs rsi %r and obv not all are though.
If anyone has the inclination and time, maybe worth watching for a week at least. I
think i maybe the only person on this bb that uses a mac, and Mac Trendsetter software, a comparison would be very helpful.
 

ChartMan

Legendary member
5,580 46
We are going to be running a spreadsheet portfolio manager, primarily for the competition on the BB. Maybe these can be dropped in as a lookout....
 

Uncle

Established member
671 2
Col........As an enthusiast of Candlesticks I would be interested in the criteria you have used to filter the list of stocks mentioned. Have you looked for reversals, particular pattern or what???
 

waldorf

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141 1
Hi Uncle, Reading Japanese Candlesticks by Steve Nison at the moment , i don't think i'll be using bar charts very much anymore,candlesticks are great visual indicators.
To answer your question. Created a layout of a Candlestick chart full screen, on which i can add any analysing indicator in the bottom halve, up to about 10 different ones at the same time.
Trying to find the most useful ones ( no more than 3 as it quashes the candles too much) .The 3 I ended up with were Stochs - Williams % R and OBV.
Using the keyboard i, can then flash up on the Candlestick- stochs-%r-obv chart, one after the other of my full lists of stocks, 500+ takes about 45 mins.
Thus getting a visual impression, very quickly of the indicators. Its just an exercise but the criteria was rising %r- obv, rising crossed or crossing stochs,Candlesticks not showing negative sentiment, apart from one as a comparison.
Reversals are the top signals to go by, but continuation signals are hard to fathom. I find Candles very accurate and have used them to my advantage, spotting a few bottom reversals early on and selling at the top thanks to candlestick indicators.
A bit long winded but that is what its all about, they are not recommendations of any kind, i believe everyone should do their own research and not buy or sell shares without doing it.
 

Uncle

Established member
671 2
Col....Many thanks for you prompt response. I also am a great devotee of Candlesticks and havent used bar charts for my own use for over three months now. The big advantage from a visual point of view is you can see the daily movement very clearly. Within Metastock there is a Explorer from which you can filter any of the Candlestick indicators, which takes about 30 secs, then you can sort which shares to check out. However,as you know, there are so many it is difficult to know just which to use. I have found Hammer, Long Legged Doji, and Long Lower Shadow particularly useful, in looking for buying opportunities. For getting out I rely purely on the price movement.

Good luck to you in your quest for a profitable routine.

John
 

waldorf

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141 1
Hi Uncle,Yes i can screen them all, by Doji- Harami- stars -specials-bullish-bearish, and making a new list each time, by any indicators to narrow them down, until you are left with 3 or 4 that pass all the indicators, much quicker that way, but you don't get the visual picture that a chart portrays. Maybe, over time, patterns will emerge that are instantly recognisable, being as my software uses end of day prices, going through the routine every night doesn't take long. Using the correct combination of indicators i think will be the test.
 

ChartMan

Legendary member
5,580 46
I like the selections, except for the first three. All of the others have good potential, especially JPR.
 

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