ADX-PPO PINCH TRADING by AJAN K K

Author:AJAN K K [K K, AJAN]
Language: eng
Format: epub
Published: 2018-09-26T18:30:00+00:00

Chapter 6

Stock Screening

6.1Stock Screening for ADX-PPO Pinch

Have you thought of how to spot a perfect PINCH setup? If not, do it now. There are thousands of stocks listed in the exchanges. How to spot one matching our criteria? We will discuss it in this chapter.

Do you think it possible to manually check every stock daily to find whether it will meet our criteria? Though possible, do not attempt as it is cumbersome and time consuming and sooner or later you will drop this idea and may even drop the idea of trading this method. This is where stock screeners come to our rescue. A stock screener will shortlist stocks to match the criteria we specify.

There are many screeners available in the web. Some of them are purely based on fundamental data. Some are capable of scanning technical criteria as well. Check out if your trader platform provides any such feature. These days the platforms provided by some brokers are very advanced.

In our case, we need a screener to detect the pinch formation. I have not found any screener that do this directly. So we need some customization or little programming exercise. Don’t get frightened if you have no programming experience.

For those who trade in the NSE exchange the best place to find a screen is the chartink.com website. The opening page of the website provides lots of customized screeners. You will not find any screen suitable for our purpose. Part of the opening page appears like the graphic given below.

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