Hi-Lite Criteria

Last modified 10:27, 5 Nov 2012

Hi-Lite Based Scan Criteria

mrktscan_srchcrtyp_hilit.gifYour SOFTWARE has three Hi-Lites-based search criteria:

The Safety in the Market Module adds another Hi-Lites based search criteria to the list:

Candlestick Patterns Criteria

mrktscan_hilitcrit_cndlstix.gifScans can be restricted to those symbols that have the occurrences of the selected candlestick patterns in their price data.

By default all candlestick criteria patterns are turned off.

Candlestick Patterns are arranged in three groups:

Bullish Patterns

Bearish Patterns

Reversal Patterns

Depending on the trading formation to be scanned for, users check the check-boxes for the patterns, most appropriate for the search.

Refer to the Candlestick Pattern Identifier Hi-Lite topic for more information on Candlestick Patterns in general.

Candlestick Pattern Scan Settings

The default setting for scans is to search on the current interval only. When searching for candlestick patterns this may be excessively restrictive. For example some candlestick patterns take more than one day to form. The scan will only detect those that are confirmed on the scan date.

To more effectively employ the candlestick scan criteria, we suggest that the scan be performed over a range of dates using the date range selector:

mrktscan_customdaterang.gif

In these settings all the selected candlestick patterns that formed during the period specified by the two dates will be included in the scan results.

Elliott Wave Criteria

The same mathematical processes that produce the Elliott Wave Hi-Lite are employed by this scan to identify Elliott Wave formations. While the Elliott Wave Hi-Lite will display all 5 Elliott wave, as well as the EBOT lines, ABC points and TAPP projections, the Elliott Wave scan criteria is set for one Elliott Wave at a time, and the other functions can be included or excluded from the scan criteria.

The TAPP projections cannot be included as part of the Hi-Lite scan criteria.

Refer to the Elliott Wave Hi-Lite topic for a full explanation of all the Elliott Wave components.

Elliott Wave Scan Settings

The parameter settings for the Elliott Wave scan criteria are divided into four sections:

  • Wave criteria settings
  • Oscillator criteria settings
  • Elliott Break Out Trigger (EBOT) criteria settings
  • Retracement / Extension criteria settings

For information on how to set these complex and powerful scan criteria, refer to the Elliott Wave Scan Criteria Settings topic.

Gartley Pattern Scan Criteria

Harold M Gartley was one of the early masters of technical analysis.

His pattern on which this Hi-Lite criteria is based consists of a four swing analysis, the retracements of which have precise mathematical relationships with one another. A valid pattern will also provide trade entry and stop loss levels, these are what will be detected by the scan.

For more information on the pattern and its history, go to the Gartley Pattern Hi-Lite help topic.

Gartley Pattern Scan Settings

For more information on the extensive settings available for Gartley Pattern scans, go to the Gartley Pattern Scan Criteria Settings help topic.

sitmicon34.gifABC Points Scan Criteria

Your SOFTWARE's SITM Module includes Hi-Lite based search criteria using ABC trade formation analysis.

This means that the scan will analyze all the securities in a particular market, user defined group, date-range, etc. and detect all securities which have a potential point C on the previous day of trade.

The ABC points calculation, as well as the user settings, parameters and filters as those used in all the other ABC price calculations in Your SOFTWARE.

For more information on ABC theory and the calculation of ABC Points, go to the ABC Points Hi-Lite's help topic.

ABC Points Scan Settings

For more information on setting the ABC Points scan criteria, go to the ABC Points Hi-Lites Scan Criteria Settings help topic.

Page statistics
748 view(s) and 6 edit(s)
Social share
Share this page?

Tags

This page has no classifications.

Comments

You must to post a comment.

Attachments