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J-Hook Scan by RickyWayne

 
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RW



Joined: 26 May 2005
Posts: 2

PostPosted: Sat Apr 22, 2006 7:48 pm    Post subject: J-Hook Scan by RickyWayne Reply with quote

J-Hook Scan:
Find stocks in an uptrend short term or long term, but most important to me is that the 20sma is above the 50sma. To thin out my list and really get an up trend I also want the 50sma above the 200sma.The PCF for that would be…(AVGC20 >= AVGC50) AND (AVGC50 >= AVGC200) Now keeping in mind that a J-Hook is nothing more than a pull back in an uptrend and you could use the 20, 30, 40, 50sma or any sma as the trigger for your buy point. So to do that for my 20sma J-hook / pull back trigger point I use a PCF that I call PB20&P. The PCF for that would be…(C <= AVGC5.5) OR (C <= AVGC9) AND (C >= AVGC20). Now I also use a Volume PCF…. (AVGV90 >= 2000)
I also only trade the Nazdaq. As far as the price of the stock goes just use what you are comfortable with.
Now add all this to an easy scan and there you go. The scan is not magic so you will need to flip thru your charts and pick the very best ones. That takes me about 15 min each night. Some things I look for is if the stock is in a good uptrend with a nice orderly pull back to the 20sma or the moving average of your choice. You want the pull back to be organized no big gaps, no big jerks just a simple orderly pull back.
Some things you might add to your easy scan is a Stoch (STOC8.2 <= 30) or try using (RSI2.3 <= 30) this is not absolute, play with the numbers to find what works for you.
My style of trading is to buy in the belly of the J-Hook and sell some in the leg up. I make my decision to buy the stock by listening to what the candles are saying in the belly and the fact that the 20 is holding and there is an uptrend.
Make changes to the PCF’s, tweek them have fun and let me know if you come up with a better idea.

Good Luck
RickyWayne
rsaddler@gci.net
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S2



Joined: 17 Oct 2005
Posts: 79
Location: Portland, OR

PostPosted: Sun Apr 23, 2006 6:04 pm    Post subject: Reply with quote

RW,

Just a question to clarify your PB20&P PCF you have three terms in the PCF (C <= AVGC5.5) OR (C <= AVGC9) AND (C >= AVGC20). When using OR and AND to combine terms it's good to include the parens to expliciting convey your intent.

For simplification lets call these terms A, B & C. The way you have it stated, since you have not parens to make it explicit the logic is
A or (B and C) - meaning you either want the close to be <= the average close 5-10 days ago OR you want the close to be between the 9 day average and the 20 day average.

If you meant for your formula to be (A OR B) AND C, ie the close always has to be above the 20 average and either less than the average 5-10 days ago or less than the average over the last 9 days.

Which way to did you intend?


S2
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