Screeners: Weinstein Strategy

Weinstein Strategy Screener for ProRealTime

Identify stocks showing a potential Stage 2 breakout based on Stan Weinstein's method

Stan Weinstein developed a medium to long-term trading method based on the evolution of stocks through 4 market stages.

Stage 1 corresponds to a consolidation period. The transition to Stage 2 marks the beginning of an uptrend and represents a particularly sought-after setup in Stan Weinstein's strategy.

The analysis and screening are performed on the weekly timeframe, notably using a moving average. Volume behaviour and other criteria are also used to identify the different stages.

To learn more about Stan Weinstein's method, see the Stage Analysis guide from Tradecraft Academy.

Description

The Weinstein Strategy screener automatically scans the market for stocks showing a potential Stage 2 setup based on Stan Weinstein's method.

It looks for consolidation phases and breakouts in relation to the moving average to identify stocks that may be leaving Stage 1 and starting a new Stage 2 uptrend.

Results are ranked according to how far the setup has progressed, making it easier to quickly identify stocks approaching the conditions being screened for.

A general filter, applied on the daily timeframe and based on share price and trading volume, allows you to select the desired level of liquidity.

A wide range of parameters can be adjusted to match your own criteria. All settings can be changed directly from ProRealTime's “Variables” menu, without modifying the code.

Adjustable validation criteria:

• Moving average period
• Moving average type (EMA, SMA, WMA, ...)
• Minimum price decline before Stage 1
• Number of candles to validate the decline before Stage 1
• Minimum consolidation percentage after the moving average breakout

Available filters:

• Maximum distance after the moving average breakout
• Moving average direction: bullish or neutral
• Maximum distance between resistance and the moving average breakout

General filtering:

• Minimum price
• Minimum average volume
• Average volume period
• Volume calculation: number of shares or traded value

Video presentation:

Details of available settings:

Télécharger le guide

Characteristics

• Works on weekly timeframe
• Compatible with ProRealTime V11 and later
• Free ProRealTime (daily closings) compatible
• Settings can be adjusted without modifying the code
• Weinstein indicator included
• Free automatic updates for life

Buy this tool 

Discover also

Disclaimer

Our proposed tools (indicators and screeners) are not investment advices but tools allowing everyone to find specific graphic configurations. The automated trading systems offered have been developed and optimised using historical data; however, past performance is no guarantee of future results. Investing in the financial markets involves risks up to and including the total loss of capital. The user of the proposed tools understands and accepts that the use of these tools is under his sole and entire responsibility. P2C Trading declines all responsibility in the use of the tools and the consequences that would result.