Posts: 277
Joined: 12/24/2003
Location: Lewiston, Maine 04240
User Profile Hello all,
I've been noticing for quite some time that when the Stochastics using 7,2,2 % K, closes under or above a certain number, usually a good move will occur. For example AMGN at the close 1-5-12 closed at 54.58, the close on 1-6-12 it was 70.37 at the close 1-9-12 it was 61.99 then at the close 1-10-12 it was 73.18. That 73.18 was higher than the close on 1-6-12 for a quick 6% move in 5 days ! ( all of these figures are the %K closes on those days )
This seems to work also when looking to go short, Ex: GLD at the close 12-5-11 the %K was at 70.45, then on 12-6-11 the close was 51.97, then at the close 12-7-11 the close was 61.85, and at the close 12-8-11 the %K was at 40.94. That 40.94 was lower than the close on 12-6-11 for a quick move of 9% in 4 days ! ( again all of these figures are the %K closes on those days )
Both of these setups occur over a 4 day period.
I could show more examples of these quick moves but I think you get the idea of what can be had with these setups.
Being that I am not a computer person I would appreciate someone coming up with a formula that anyone could search for these Stochastics setups.
I've spent a bunch of hours over the last few years looking for such a setup and I know that this could be used by many of the OmniTrader family.
Thanking you all in advance,
Gerry
Posts: 1543
Joined: 12/12/2003
Location: BALDWINSVILLE, NEW YORK
User Profile Gerry:
If you have OmniScan, try STO(7,2,2)>Your Magic Number.
Secondarily you might want to add an additional closing and volume information criteria like C>10 AND V>1000000.
And, if you wouldn't mind sharing, just what is the Magic Number?
Tom Helget
Posts: 277
Joined: 12/24/2003
Location: Lewiston, Maine 04240
User Profile Hello Tom,
Thanks for the response.
Please check your inbox for additional details on this subject.
It is now 12:35 PM on Feb 2, 2012, I just figured it out !
Gerry