This is a trading item or a component that was created using QuantShare by one of our members.
This item can be downloaded and used by QuantShare Trading Software.
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This system is a very frequent trading system. The basic is as follows:
1. The system purchases stocks at the limit price based on the previous day.
2. If the trade is executed, the stock will be sold at the limit price of high the following day. If not successful, attempt again with the new limit price, continuing for 3 days.
3. If still not successful, sell it after 4 days at market.
Since this system can generate 100s of limit orders on a daily basis and few would be executed (based on your holding pattern), I have ranked the stock based on ATR/close. In order to not get impacted by thinly traded stocks, I limit the symbols to stock in large cap indexes only.
This script also uses comp function to further limit the selection to the top 20 ranked stocks based on the ATR/close. I feel comfortable having 20 limit orders a day.
