Column Descriptions:
TSI
This is MarketGauge’s proprietary generated Trend Strength Indicator. It looks at the performance over different periods in the last six months and weights to calculated the strength of the trend of the ETF. The number output can then be used to rank a set of ETF to determine the relative strength each ETF in that group.
Trade Description
This column is blank when there are no pending or confirmed trades for that symbol.
When there is a pending or confirmed trade the box is populated with information about the moving average (50 or 200) and the direction (Long or Short) of the change. When a trade is pending or on the first day it confirms, the box will be highlighted yellow.
Confirm Date
This is the date where the trade confirmed. A confirmation is a second close above (or below) the relevant moving average.
Confirm Price
This is the closing price of the day that the trade confirmed (closed over the moving average).
Entry Zone
This displays a price range around the confirm price that keeps the risk/reward parameters of the trade relatively consistent with the initial risk levels. When an ETF has an open trade and its closing price is within this range, the box will be highlighted yellow.
Initial Risk
The Initial Risk is calculated as the lowest low of the Phase Change day or the Confirmation Day. This calculation is NOT intended to be interpreted as always being best stop loss level. It is, however, a great point to consider initially when determining your trades risk. As you learn different variations of our swing trading strategies you will learn how we adjust stops up or even occasionally down from here.
ATR Risk
Represents the percentage of an ATR you are risking down to the “Initial Risk” level from an entry at the confirmation price. Since our systems always want to consider risk in terms of ATRs we have this here as a quick point of reference.
Target 1
The first target is set at two ATRs from the entry price. From this point, you can manage the rest of the trade according to your own stops and targets.
ATR
The ATR (Average True Range) measures the volatility of a stock or ETF. The calculation is based on averaging the ranges between the daily highs and lows. We use a 10-day ATR calculation. ATR can be used to set stops and targets and to determine position sizing in accordance with your risk parameters.
Exit Date
The date the trade either reaches its stop or first target.
Exit Price
The exit price of the trade based on whether it hit the initial stop or reached its first target.