Hi Slippage! I saw you in the Moxie room and I think I took one of the trades you posted because it looked good, but I got stopped out lol. It's been a rough week though.
I haven't called any actual trades since I'm new in there but I did mention today when it looked like SNAP was done consolidating and ready for another leg up. Unfortunately, it struggled with the 15m 50 SMA and then the market turned down. I got stopped out on it, too. I'm using super small risk, though.
1. How would you build your own scans with using the Moxie scanner code? I'm a newer trader and would love to get some help from someone experienced. My hope was to make my scan higher probability. I currently trade cheaper stocks (under $100). Hoping to branch out to options and look at more expensive ones in the near future.
My big scan that applies just about all of the rules is earlier in this thread where I posted all the pieces for Fenway. I know you're all set now since I shared it with you in the Moxie trading room but I figured I'd reply here in case others are looking for a scan.
I'm actually not an experienced trader. I'm just good at TOS. I'm a recently-early-retired software engineer so figuring out how apps work and being able to write code both come quickly to me.
2. Is there any way to scan for divergence? I have a MACD divergence indicator and scan indicator and it's pure magic. I can't pair it with Moxie though because they look for different things. IS there any way to scan for Moxie divergence in the recent past and then Moxie trigger?
Not yet. A couple of weeks ago I took a quick stab at adding divergence visuals based on an RSI divergence script Mobius wrote but it didn't work well just dropping that in. It'll take a bigger effort. I'm guessing due to scaling. RSI is 0 to 100 and Moxie is -whatever to +whatever and that scale is very small (-5 to +5 or smaller from what I've seen) and differs a lot from stock to stock. I don't expect to have that working any time soon, mostly because I probably won't get a chance to work on it very soon.
3. How do you think Moxie might benefit your trading?
I've been day trading for a little while and I have a strategy that works okay for that. I'm from the US and I moved to Southeast Asia a year ago. For me the market opens at 10:30pm right now and closes at 5am. I was trading the whole session when I first moved here, which ****ed. More recently I've only been opening trades until 11:30am market time but then I still have to stay awake until they hit their targets, get stopped out or I close them at the end of the day. I want to be done with that schedule which is why I'm looking to swing trade instead. And that's where Moxie comes in.
In the past I've focused my research/learning almost exclusively on day trading and I passed over anything having to do with swing trading. Recently, I searched on YouTube for swing trading. Most of what I found was people using TTM_Squeeze or SqueezPro and in the search results I also found Raghee Horner (of Simpler Trading) and TG's Moxie videos.
Of the three, Moxie seemed most like a strategy that would be a fit for me, though Squeeze is simpler. Squeeze seemed directionally unreliable, though, with just relying on its momentum histogram for direction. TG's strategy is very well-defined in terms of direction. I watched a bunch of TG's YouTube videos and then searched online to see if I could find the code to try before I buy. I found it here and started working on fixing the 15m second line, then added the trampoline, vertical lines, the upper study with the arrows and scans and did a general cleanup on the code.
The idea of eventually automating my trades so I don't even need to be involved appeals to me and TG's strategy might be too subjective for that. Especially without code that detects divergence well. So I took a brief detour into Squeeze. I re-read John Carter's book which details the strategy for Squeeze with additional filters from his other indicators and I added some features based on the filters in the book to my SqueezePro clone. I got into a couple of trades with that which went well.
Then TG had his million dollar day and ST started their marketing push about it. Conversation in this Moxie thread picked up quite a bit. I don't care about his million dollar day. That's hype and could just as easily be luck. But the questions people were asking me here in this thread kept pulling me back in and I do like the strategy so I figured I'll give it a real try.