StockFetcher Forums · Filter Exchange · BOLLINGER BAND TRADING STRATEGY<< 1 2 3 4 5 ... 39 >>Post Follow-up
KMorley
6 posts
msg #78980
Ignore KMorley
9/10/2009 7:09:05 PM

Kevin:

How do you obtain the 458 stocks from IBD with IBD Composite Rating above 90? I'm an IBD subscriber and can logon to the website, but I can't figure out how to screen on the site. How do you do it?

Thanks!

Ken

Kevin_in_GA
4,553 posts
msg #78981
Ignore Kevin_in_GA
9/10/2009 7:11:32 PM

I went through the IBD stock list by hand and highlighted as many as I could find that were above 90 (this was out of about 2800 or so stocks). Some were from earlier IBD top 100 lists, so they may not necessarily be at 90+ anymore.

DLB7
43 posts
msg #78985
Ignore DLB7
9/10/2009 8:26:01 PM

Kevin,

You can run the scan without the "apply to watchlist" line if you want - only 7 hits today. Of them, only MON would be a candidate for me.

What do you see in Mon's chart that would make it a candidate?

Why not say AEE that seems to be uptrending with a decent pullback?

Trying to get these unseeing eyes trained to "see" like others, thanks.


garberc
13 posts
msg #78986
Ignore garberc
9/10/2009 8:33:23 PM

Thanks for the screen.

Would it make sense to screen for stocks with RSI greater than 90?

Kevin_in_GA
4,553 posts
msg #78988
Ignore Kevin_in_GA
9/10/2009 8:40:46 PM

MON is down only because of its guidance today re: 4Q. It is a solid stock that is likely to rebound - can't say if it will hit the upper band anytime soon, but it should bounce off the lower band. My opinion only, no data to back it up except that most stocks do rebound off the lower BB, not only the IBDs.

In fact, my initial backtesting was done on all stocks, and this system still delivered 80.1% profitable trades and an average 9.25% return per trade (on over 1020 trades since mid-2005).

Kevin_in_GA
4,553 posts
msg #78990
Ignore Kevin_in_GA
9/10/2009 8:44:45 PM

Thanks for the screen.

Would it make sense to screen for stocks with RSI greater than 90?
+++++++++++++++++++++++++++++++++++++++++++++++++++

Not really. Stocks with an RSI that high are soon to drop. If you look at the filter, you'll see that almost all of the stocks that close below the lower BB have VERY low RSI(2) values. for RSI(14), the values are typically below 50 when the BUY signal is generated.

garberc
13 posts
msg #78991
Ignore garberc
9/10/2009 8:53:06 PM

I was interested in your formula for scanning CAN SLIM stocks on TC2000. I use Genesis' Trade Navigator and it uses different terminology. Therefore I am a little lost by your formulas.

Here is a CAMSLIM formula. Not sure if its useful here referring to using the TC2000 screener. Just a thought. I will work on setting up the screen the way you suggested. Thanks again.

C is the current days closing price
C1 plus 0.50 is yesterdays closing price plus $0.50
MAXC250 is the maximum closing price for the past 250 days
AVGV3 is a 3 day moving average of closing prices
AVGV50 is a 50 day moving average of closing prices

With the above interpretation of your formula terms, I had 2 problems which did not make sense--and thus indicates that my understanding is wrong somewhere:

(1) the part that states C < 1.15*MAXC250 would be redundant because if MAXC250 is the maximum closing price for the past 250 days, then C could not be any larger than MAXC250. AND

(2) I do not understand what AVGC50> 320 means.

Would you please be so kind as to enlighten me on your formula as I think it could be very valuable, particularly if it comes up with cup and handle trades.

Thank you for your help.

Eman93
4,659 posts
msg #78995
Ignore Eman93
9/10/2009 9:39:55 PM

Nice work Kevin....

Kevin_in_GA
4,553 posts
msg #78997
Ignore Kevin_in_GA
modified
9/10/2009 9:49:28 PM

Thanks, Eman. I'm enjoying this one right now. Hopefully a few more stocks will pop up - I've got some cash ready if that happens.

Kevin_in_GA
4,553 posts
msg #78998
Ignore Kevin_in_GA
9/10/2009 9:53:32 PM

garberc - this is not a CANSLIM screen. This uses IBD stocks with ratings of 90 or higher and looks for pullbacks below the Bollinger Band. That is all. No fancy coding needed.

Sorry - the questions you asked are beyond my ability to answer.

StockFetcher Forums · Filter Exchange · BOLLINGER BAND TRADING STRATEGY<< 1 2 3 4 5 ... 39 >>Post Follow-up

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