With the product that I am developing, it will be a web-based pre-market open calculator. You can enter almost ANY symbol. It will give you 5 different regions that will tell you if the stock (symbol) OPENS in this region, it has a historical probability of doing this and the following will be covered: If the OPEN is within the PREVIOUS DAYS RANGE: A high above the high of the previous day Close above Previous High A break of the midpoint of the previous day A low below the low of the previous day Close below Previous Low If the OPEN is a GAP: If the Gap will close to the High / Low (Gap up / Gap Down) If the Gap will close to the Close I have this developed, I am working on making it look good. I will eventually add a calculator that will allow you to enter the OPEN and it will give you these stats live and in real-time. My current platform will tell you when specific patterns occurred and what happened after they occurred. Basically finding probabilities based on patterns. This is a PHP / mySQL based platform and uses historical data.
I have been using the parabolic SAR indicator and it has been working nicely most of the time in short term trades lasting from 3-5 days. Good forecasting tool. What technical tools do you use when you try to forecast a stock lasting from 3-5 days?
================== Sharpshooter; Huge number of things, which helps prevents me from short term trading[mostly].Especially since positions trading/investing has been much more profitable over the many years. a]Still study Jack Schwager top trader books[all three/3]For example Rich ''turtle''Dennis interview= still a favorite.But fortunately since I studied William O Neill chapter on stocks, BEFORE Rich Dennis,,i knew William O Neill knows much more about stocks, but Rich Dennis is much better on trends & commodities, I figure. b]Yearly,monthly, quartely,weekly,daily,half -daily [candlecharts...................................................................., .2001 Stock Trader Almanac, by Mr Hirsch. T]Two hundred day moving average ; price & volume[200 day/period/ma on price & volume].200 simple ma, 200 weighted ma ,200 ex ma.................................All of this is used with discretion You will see many patterns no one ever mentioned before; like i use smaller[shorter moving averages than 200], but it would help you shoot sharp if you did you own non real time study on those. z] Like some larger traders/institutions just barely accumulating [buy bias]QQQ, say on hourly candles 2 0 and or 21 period average moving average volume.''inching slowly'',LOL-UP]................................... Also the bull,/UP volume, 1 year charts declining, not a good sign for the bulls=sell bias.50% off sale works wonders in markets, $60 is half or $120 QQQ area high