This screen finds reversals at the Bollinger Band for Swing Trading. A swing trade can be made in the direction of the reversal. The screen uses custom expressions to determine the reversal condition at the Bollinger Band.
In this video I’ll be covering 5 predefined momentum screening ideas from our Trading Ideas' section in ChartMill. Momentum trading means that you are primarily concerned with short-term positions. The intention is to buy stocks which are already rising and to sell them again quickly as soon as the first signs are visible that the rising is losing momentum. As an investor you try to benefit from the high volatility associated with the rise in this relatively short time.
A highly effective ChartMill filterscreen to find low risk/high reward long- and short setups, using the Bollinger Bands indicator. This screen can be used on different timeframes.
The close from yesterday was below the upper bollinger band
Only US exchanges
No ETF's
A minimum price to avoid low priced stocks
Minimum liquidity
A general filter to determine the direction of the long term trend
The current price is below the low of the previous day
Chart with Bollinger Bands indicator
Run this screen in your favorite region. You can always further fine tune the screen by changing the general settings after it opened in the screener.