Live Open High Open Low Scanner
What is the use of Open High, Open Low Scanner?
Open High Open Low (OHOL) Strategy is one the best day trading technique, especially for beginners. We have to check Open=High and Open=Low for the stocks and this live scanner does it automatically.
If you want to know about this strategy, watch this video to get complete understanding.
Note: This is a live scanner, so the list will keep on changing throughout the day, you can use cut-off scanner as well if you prefer the same
It has a high success rate of more than 80% accuracy. The reason for success is ease of use. You can find out intraday stocks using OHOL Strategy within few mins.
How to use the scanner?
- The Scanner lists Possible Shorts & Longs for the day by filtering Open=High & Open=Low Stocks respectively.
- If the Stock listed in Possible Shorts and if the 3rd column has the value as “Near Open/High” or “Open=High”, it denotes price of the stock is nearing the entry level for shorting. So, open the chart of the stock and check for Doji formation.
- If the Stock listed in Possible Longs and if the 3rd column has the value as “Near Open/Low” or “Open=Low”, it denotes price of the stock is nearing the entry level for long. So, open the chart of the stock and check for Doji formation.
If you have any queries, post them in the comments section of the above mentioned video. Have a profitable trading day.!
This to remember & Mistakes to Avoid before trading using Open=High(OH) Open=Low(OL) – (OHOL) Strategy.
- This is one the best day trading technique and very simple strategy for beginners. We just have to check and filter down the stocks which are Open=High and Open=Low
- Don’t enter into any trade before getting confirmation signal mentioned in the video
- For Chart Set-up to decide on Entry & Exit, use 3 or 5 minute candlestick chart
- Always follow Fixed Positional Sizing [i.e] You should always trade same fixed capital all the time
- This strategy is Easy/Simple to trade – No complex algorithm/patterns involved
- Risk is very much Limited in this strategy – You will exactly know your risk before taking the trade
- For higher reward, you have to Trail your StopLoss
- This provides plenty of opportunities, you can trade same stock N number of times
- Trading can be completed before 11 AM everyday – Works for people who are into job/business
- Don’t have to be online whole day – Trade whenever it is possible for you
- Can be automated to an extend – Use Auto scanners & Alerts
- After market analysis not required – No Home work at the EOD
For more details, check out the video provided at the top. Feel free to ask any queries you have in the comments section of the video.
