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Hi Tim,
You might consider ADX. Larry Connors, who is certainly no slouch
when it comes to trading, uses a 10 period ADX of 30 or higher
combined w/a +DI above the -DI to define a "solid uptrend" or the -DI
above the +DI for downtrend. You could refine this in various ways by
playing w/the parameters.
Alan Farley, in the Master Swing Trader, advises that when it comes
to writing scans don't try to pin it down too fine - the math will
only do so much, then you let other criteria and your person visual
scan of the resulting charts narrow it down to suitable candidates.
This is the MS formula as per Connors for an uptrend:
(DX(10) > 30 AND PDI(10) > MDI(10))
You might refine this further by looking for strong relative strength
vs the S&P or Naz. For downtrends, weak RS. And so on.
Harold
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