Metastock Exploration Formula |
Mick's Breakout Exploration |
This is a MetaStock formula that I have had good success with.
This formula will pick up all stocks that have closed up either the same as the previous day or below the previous day for 3 days, then on the 4th day closes up higher than the previous 3 days close. The reason that I specified that the first 3 days close was the same as or less than the previous days close was that it would pick up all stock in an up trend if it was just the 4th day closing higher than the 3 previous you would get hundreds of returns on the search. It will pick up stock that was in a trading range or consolidating, then breaking out of the range. The reason that I had the 4th day higher than the 3 previous was because it would otherwise pick stock in a downtrend with no significant increase in the close on day 4. Once I have a short list, I check it with Daryl's 3 day countback line and sometimes run a 10/30 moving average. If the stock breaches the previous day's close on the open, I will enter the trade and put a trailing stop loss into play. |
| Filter: |
C>Ref(C,-1) AND C>Ref(C,-2) AND C>Ref(C,-3) AND C>Ref(C,-4) AND
Ref(C,-1)<=Ref(C,-2) AND
Ref(C,-1)<=Ref(C,-3) AND
Ref(C,-1)<=Ref(C,-4) AND
Ref(C,-2)<=Ref(C,-3) AND
Ref(C,-2)<=Ref(C,-4) AND
Ref(C,-3)<=Ref(C,-4) |
|
Did you know ...
How do I access pre-built trading systems in MetaStock?
MetaStock offers a variety of pre-built trading systems. To access them, go to the "System Tester" or "System Testing" menu, choose "Select a System," and browse the available systems categorized by trading styles or strategies.
|
