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Monday, June 25, 2007

Looking for Oppurtunities

The following is my basic method of looking for trading opportunities using Metastock. Before I continue, I would like to thank the following person for making this possible:
1. SML for providing the Metastock update script and taking the effort to get the data from Yahoo (when it was still available).
2. Swingtrader for teaching me how to write the filter formula.

Okai, lets go to the steps:
1. Set up Metastock filter rules. Mine look like this:
a. Monthly timeframe scan
Mov(CLOSE,3,E) > Mov(CLOSE,7,E) AND MACD() > Mov(MACD(),9,E)

b. Weekly timeframe scan
Mov(CLOSE,3,E) > Mov(CLOSE,7,E) AND Mov(CLOSE,7,E) > Mov(CLOSE,20,E) AND MACD() > Mov(MACD(),9,E)

c. Daily timeframe scan
Mov(CLOSE,3,E) > Mov(CLOSE,7,E) AND Mov(CLOSE,7,E) > Mov(CLOSE,20,E) AND Mov(CLOSE,20,E) > Mov(CLOSE,30,E) AND MACD() > Mov(MACD(),9,E)

2. Copy the result

3. Compare the result with the previous day result

4. Find the differences

5. The differences represents possible trading oppurtunity

Example for CWs
18-Jun-07: BURSA DIGI MPLANT PROTON
19-Jun-07: BJTOTO BURSA DIGI MPLANT PLUS PROTON RHBCAP TM
So on 20 Jun, one may consider trading in BJToto, Plus, RHBCap or TM. This depends on the detail analysis of the stock.

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