This thread will briefly explain my stock selection process for trading
1) At EOD, short list stocks which are in bullish formations or bullish patterns on higher box sizes or time frames. On monthly and weekly time frames or 1% 2% and 3% box sizes
2/n
1) At EOD, short list stocks which are in bullish formations or bullish patterns on higher box sizes or time frames. On monthly and weekly time frames or 1% 2% and 3% box sizes
2/n
2) from this, short list stocks that are probable breakout candidates. Here I look for follow through to bullish patterns like super pattern , 💯 pole, turtle Breakout , rare occurrence , bear traps etc
3/n
3/n
3) From this list check relative strength against nifty 50 and short list stronger candidates.
Check for price and volume breakouts in candlestick charts on daily timeframes for confirming the momentum
4/n
Check for price and volume breakouts in candlestick charts on daily timeframes for confirming the momentum
4/n
There are many ways to achieve this. I have built a system in TradePoint from @Definedge for short listing the candidates. I run fusion matrix to find stronger candidates. The idea for this got from one of the weekly newsletters of @Definedge .
5/n
5/n
For finding momentum , developed a system in OHLC charts where I check for price and volume breakout for last 5 days, some EMA checks and RSI levels, supertrend etc
For developing the multi-timeframe scanner please check the news-letter dated 4th May 2020 at insight.definedge.com . There is also a video BOOST: Multi-Time frame trade strategy available there - search for BOOST.
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