Is there a free way to do this?

Discussion in 'Trading' started by vk60546, Apr 21, 2011.

  1. vk60546


    1) I need 10, 20 and 50 day moving average.

    2) I need hourly average for the past few days.

    basically, i found this advice on the web and would like to know if there is a free program that can filter the stocks based on these settings.

    Or if there is a paid program, which one would do the trick?

    infro from the web-

    We need to examine the trend. Get the 10 day MA, the 20 day MA, and the 50 day MA. The formula is: 10 day MA greater than 20 day MA greater than 50 day MA. So the 10 day MA should be above the 20 day MA. The 20 day MA should be above the 50 day MA. If this criteria is met, move on to the next step. If not, toss out the stock and start over.

    The next component in this formula is to determine if on the previous day, in the last hour of trading, the stock closed above the 5 hour MA. If it has, move on to the next component in this killer formula. If not, reject the stock and start all over again until you find a stock that does.

    In this step we must look at the stock’s 3 day high. If it is at a 3 day high, you can keep reading the next step below. If not, you need to ditch the stock and start over again with another stock.

    Now we need to determine if the stock is above the 20 day MA. If it is, keep reading.

    The next component in this formula is if the stock has hit a 3 week high in the last week (the previous full week of trading). If not, reject the stock and start over.

    The final component in this formula is if the stock has hit a 3 month high in the last month (the previous full month of trading).
  2. What makes you think that this momentum strategy will work? Did you see backtest results?

    or because someone said so?
  3. what are the exit rules?
  4. Without arguing the validity of the "secret",
    1) StockFetcher will do all the end of day scans for you, but not the intraday one. It's not free, but it's ridiculously cheap ($8.95 a month and maybe less than that if you do longer subscriptions). Based on its results, you could do a quick visual for the hourly rule on the list it comes up with. It's pretty easy to use and you can test drive it for free (only gives you the first 5 of you scan and it's delayed).

    2) Alternatively Stockcharts has some pretty decent technical screener tools, but I've never explored their fee-based stuff so I don't know if they can incorporate the whole filter. I think this one runs in the $15-$25/month.
  5. Bob111


    read the whole thing,here is the quote from bottom-

    they gonna sell you their scan.
  6. stockfetcher used to be free. It's not free anymore?
  7. Um, the sig in that article links to you a stock screener.

    But I'm pretty sure that "algorithm" isn't going to work. Just because price goes above specific MAs doesn't mean it's going to continue about those MAs.
  8. Did you mistype that last letter?
  9. Gcapman


    Very smart young grasshopper. I see you've been doing your homework. Don't forget the 200MA since it is usually a great level to buy/short upon kisses. Good Luck!
    #10     Apr 21, 2011