This scan is to quickly find the stocks that have this Wedge pattern or Dragon pattern
Easy way to find this was pointed out today by our friend Laser today. He has this setup in TC2000 and Telechart. Another friend Mautzman has used this very successfully.
I am putting this in ThinkorSwim for the folks who cannot access TC2000 or Telechart.
First Custom Scan: Price Linear Regression 44 days
#Big Bull and Big Bear LLC
def MiddleLR = InertiaAll(close, 44);
plot buy1 = middleLR > middleLR[10];
Second Custom Scan: Volume Linear Regression 10 days
#Big Bull and Big Bear LLC
def MiddleLRVol = InertiaAll(volume, 10);
plot volbuy =middleLRvol < middleLRvol[5];
Third Custom Scan: Top Band Linear Regression 10 days
#Big Bull and Big Bear LLC
def price = 1.01*High;
def TopbandLR = InertiaAll(price, 10);
plot toplr =topbandLR < topbandLR[5];
Fourth Custom Scan: Lower Band Linear Regression 10 days
#Big Bull and Big Bear LLC
def price2 = 0.99*Low;
def LowerbandLR = InertiaAll(price2, 10);
plot lowerlr =lowerbandLR > lowerbandLR[5];
I run this scan on the stocks that show on a very good tool called Bluefin developed by a friend Dan Cummiskey at Patient Fisherman.
As Dan has pointed out multiple times, one should to be in the best performing stocks in the market. In Bluefin, Dan has filtered out the strongest stocks by various methods.
Now one need to go through this entire list and using elbow grease, need to identify trade able pattern and subscribe to alerts.
Thinkorswim, Freestockcharts and TC2000 has good systems for setting up alerts.
