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On Mon, 05 May 1997 22:00:49 GMT, cbfrish@xxxxxxxxxxxxxxxx (Cliff
Frish) wrote:
>A lot of discussion regarding "channel trading" has gone on here. How do you
>define your channels? and how do you use MS to search for trades?
Unfortunately, I missed it because I only subscribed one month ago.
I define a channel as two parallel lines that enclose the price
movement, touching the intraday highs or lows only at peaks, and are
parallel to some moving average of the price.
Such channels can be short, medium, or long term. One can trade them
in many ways. For example, you could buy and hold a stock for as long
as it traded within an up channel. You could hold KO or ASND for
years this way. Or, you can buy at the support and sell at the
resistance line, short at the resistance and cover at the support, or
both.
As for how to use MS to search for trades, I sure would like to hear
some ideas.
Right now, I look for up channels by finding strong stocks in IBD
using their EPS and Rel Str ranks. Then I manually browse through the
charts trying to spot channels and trendlines. Not very efficient.
Anybody got some ideas on how to automate the process using the
Explorer?
For example, I could search for stocks that have been above their
50-day MA every day for three months. How would you code that?
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