Stocks don't normally make big moves overnight (although some do). More often they start to make smaller up and down moves over a period of days or weeks prior to surging to new all-time highs (or lows).
The In-Play template is designed to scan for stocks that are making small waves now before they start making the really big waves.
You choose a time period to review and the template will rank all stocks in your selected symbol list based on their 'Max Play' over that period. Max Play is expressed as a percentage of Lowest Low (LL) to Highest High (HH) if the High came after the low or negative percentage of Highest High to Lowest Low if the Low came after the high.
In addition to Max-Play the template also reports as percentages LL to Close, HH to Close, Prior Close to Close and Open to Close. Where Open is the opening price of your chosen period and close is the closing price on the date of the scan. You will also see columns in the report for number of Bars since the lowest low and highest high. Other indicators that are purely based on Highest High and Lowest Low are also added for completeness such as the Slow Stochastics and Aroon indicator.
By running this template nightly on a list of all stocks and reviewing the top movers you may never miss a big move again.
- CategoryHot Topics
- Release DateMarch 2015
- TagsScan, Hot Topic