Hi Allen, I agree with you that the hold zone needs to be customized. What I've done in the past is used ZigZag analysis on stockcharts.com to come up with an "optimized" hold zone. You just try different ZigZag percentages and see how many trades you get over a period of time, based on backtesting. It's not perfect but better than using 30% for everything.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.