The thread explains my momentum scanner and how to build it in #TradePoint software.
@Definedge
Conditions :
1)EMA 8 above EMA 34 and rising
2)Candle close above previous 5 candle high
3) RSI above 60
4) Volume above previous 5 candles
5) ADX above 30
1/n

Select Double Moving Average 8 and 34
2/n

Under Patterns select Close Above Prev Bars
3/n

Qualify the candle close
4/n

RSI above 60
5/n

Subasish Pani revealed the most simple, yet successful strategy: 5EMA set up!

Here is a thread of 23 video clips on the 5EMA set-up that will save you hundreds of hours and available to you for no cost!

5EMA set-up: 🧵!

Collaborated with @AdityaTodmal

1/Don't hate on any style:

• Admire the fact that money can be made from intraday, scalping, positional, option buying, selling, futures, etc

• Try to understand which one fits you the most and apply that, then ignore the rest!

2/ System with a R/R of minimum 1:3:

• Here is a system that works for investing, scaping, positional, options buying and selling, futures etc.

• The R/R of this set up in intraday is 1:3 & for investing can go beyond.

3/ Why EMA over SMA? :

• Exponential moving average is used, as it places a greater weight and significance on the most recent data points.

4/ 5EMA moves very close to the prices:

• Mean reversion theory: Asset prices usually tend to go back to normal or average levels after an extreme price move.

• Prices routinely oscillate around the mean but tend to return to that same average price over and over.

Sharing here a strategy that gave me most consistent profit in intra-day in all these years. Narrow Range break out / break down.

Here's how i scan the stocks :

- 3ib
- 3iib
- NR7+IB
- NR14+IB
- NR21+IB
- Double Doji

Stock Selection Criteria :

- IB/Smaller Doji range is around 1%
- Beta is above 0.75
- How has the stock performed in the past with this strategy

Entry :
- Long/Short on Previous Day High/Low break

Stop Loss :
- Opposite side of previous day candle

Target :

1%, 2%, 3%

Will post my stock selection here as and when i can as i have seen that in spite of sharing every single rule, people are still not getting the stocks selection correctly.

VCP SCANNER

A THREAD 🧵

Before hopping from scanner to scanner, We need to understand what we are looking for? What is our trading personality?

I personally use 3-4 Scanners regularly to find stocks of my interest. Let's go through them one by one

Scanner 1
This my go to scan, This scan shows the result of all the stocks trading above 20SMA, which have latest % close +- 3%.

Drawdown of this scan is It's result can go upto 1000-1200 stocks in a day. so It's not possible for a part time trader to run this daily.

Link for scanner 1:-

Scanner 2

(DISCLAIMER:- THIS IS NOT MADE BY ME, I'VE FOUND IT ONLINE SOMEWHERE PLS TAG THE OWNER FOR CREDIT IF YOU KNOW)

I don't use it daily, because Scanner 1 gives me all the result I need.

This scanner shows the highest ROC ( Rate of change )