We like to use
the Williams %R in combination with the Stochastics; we believe that together
they give much more reliable signals.
Here's how it
works with us:
- The fast stochastic must have crossed above the slow
stochastic today
- Williams %R must have crossed above 50 today, but
must still be less than 80
- The slow stochastic must have been in oversold
territory yesterday
It's easy to
code this into SwingTracker. When doing so, as usual, we add some price
and volume criteria; we only want to trade liquid stocks. Completed, the
scan looks like this:
The scan will
find stocks that are coming out of oversold territory with good momentum, but
are not yet overbought. Today the scan finds eight candidates. Of this
group, our favorite is RAS:
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P.S. - Swing Trading is the art of capturing profits in trending stocks in a relatively short amount of time.
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