How Zoom Scan Helps Trading Both The Trend And Range?
As you know that Zoom Scan is the biggest development on Amibroker AFL history in 2014. If you are not already familiar with Zoom Scan, go through this blog post here. You are also recommended to read Trend Blaster Trading System guide here.
Our readers think that only Zoom Scan “PassedOK” scrips are good to trade. Wrong!! You can nicely trade “Failed” stocks as well. Today I will show you how to trade both trend and range.
Today on 8th July 2014, I have done a Zoom Scan around 09:30 in the morning. I got Nifty future as zoom scan “PassedOK”. So I started following its chart.
I waited for a fresh signal in Nifty future chart with Trend Blaster Trading System and finally I got a sell signal around 14:50 and zoom 55 points profit by end of day.
This is how I traded trend with zoom scan, because Zoom Scan “PassedOK” scrips are in strong trend. Now, I will show how I have traded range with zoom scan. I got Silver future as “Failed”. So started watching its chart too. But with some different indicators. I attached an overbought-oversold indicator, my favorite RSI. I used 7 period RSI with overbought (OB) mark at 80 and oversold (OS) mark at 20. Quick strategy is boy when OS and sell whel OB with small SL and double target.
So, PassedOK or Failed, does not matter. You need to change the trading style according to the trend and range. To start your first ever Zoom Scan download the Amibroker AFL Library from here.
Indrajit is a professional blogger and Trading System developer, Amibroker expert, Wordpress expert, SEO expert and Stock market analyst. Trading since 2000, he has started the journey of StockManiacs.net on 2008. He follows Indian and world stock markets closely.