Free Parking Template
Free Parking is a term coined by the late great market analyst and good friend Ian Woodward that refers to a stock that pulls back to and holds near its 50 day SMA. Dave Steckler of etfroundup.com took this concept further to include stocks or ETFs holding near their 20 day EMA (or 17 day SMA).
In this template you can choose the Moving Average and also define a Moving Average Slope annual % threshold that is used to trigger MA Trend notifications. You can also choose how close the price should be to the moving average to be considered 'Free Parking'.
Free parking is just one part of the equation, this template also gives indications as to whether free parking will hold and the stock will continue in the direction of the moving average or break through. ADX and RSI are used for this.
- CategoryHot Topics
- Release DateJanuary 2017