Alter the hot list each evening but keep the core group for months at a time. Current MACD line is above chart's MACD midline and yesterday's MACD line is below chart's MACD midline. Current MACD line is below chart's MACD midline and yesterday' s MACD line is above chart's MACD midline. This scan may appear complicated at first glance. But it just uses simple price inputs and looks back several days to compare the current action.
Signals generate from crossovers at key indicator levels and adjust easily to user preferences.
Fortunately, less math-inclined swing traders can locate many of these scans free and online at web sites dedicated to the various database packages. More industrious technicians will find the scan languages easy to learn and highly versatile. Keep in mind that scans serve two primary needs. First, they reach into broad databases and output a primary list that meets the swing trader's general specifications. Second, they perform narrow analysis on this remaining subset to uncover specific trading setups and patterns.