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But, you can also use the Stochastic oscillator to confirm the MACD signals and provide more confidence in an upcoming move.

Many swing traders use MACD crossovers alone as a strong indicator for trade entry or exit. That gives some confidence that the move above the moving average was strongly supported and is likely to be continued. You may also want to add a volume filter to look for stocks that are trading above their average daily volume. The second two rules then scan for stocks for which the daily candlestick is straddling the 20-day moving average, indicating a pullback from the trend that may just be getting started. The first two rules look for stocks that have been trending strongly over a period of four weeks, with the trend increasing over the past two weeks. You can create this scan using four rules:Īverage Directional Index (Daily, 14) is greater than or equal to VALUE 30Īverage Directional Index (Daily, 14) is greater than or equal to Average Directional Index (Daily, 28)ĭAY HIGH is greater than or equal to ANALYTIC Simple Moving Average (Daily, 20)ĭAY LOW is less than or equal to ANALYTIC Simple Moving Average (Daily, 20) With this setup, you’re looking for stocks that have been trending strongly up or down, but that are now pulling back and crossing over a 20-day moving average. One very popular trading swing strategy that you can use the Pro Scanner for is the Holy Grail strategy. Here, you can easily look for price breakouts that occur in conjunction with significant movements in technical indicators. If you want more control over your swing trade scans, you’ll want to turn to the Pro Scanner.

This allows you to focus in on stocks that you’re already keyed into or on stocks from a particular market sector. One of the other nice things about using the Breakouts module to look for swing trading opportunities is that you can search only your watchlist stocks rather than the whole market.