A Comparative Study of the Effectiveness of CANSLIM and Ichimoko Trading Strategies in Tehran Stock Market (Petroleum and Chemical Groups)

Document Type : Research Paper

Authors

1 Professor, Department of Economics, Faculty of Social Sciences and Economics, AlZahra University, Tehran, Iran

2 Instructor, Department of Economics, Faculty of Social Sciences and Economics, Al-Zahra University, Tehran, Iran

3 Master's student in Economics, AlZahra University, Tehran, Iran

Abstract

The success of capital market investors depends on their mastery of market structure, opportunities and threats, also knowledge of financial market analysis methods. This study, in the time domain of the research (2017 to 2018) and in the statistical population of the research, which is all the companies of the two petroleum and chemical groups of the Tehran Stock Exchange, tries to compare the two analytical methods of CANSLIM and Ichimoku. In this research, while identifying the top stocks based on CANSLIM, the back testing of the Ichimoku trading strategy and its profitability evaluation has been done, and finally, while introducing the adjusted CANSLIM model and appropriate to the Tehran Stock Exchange, the profitability of the combined strategy of adjusted CANSLIM and Ichimoku has been evaluated. The general result of the research was that the profitability of the combined trading method of adjusted CANSLIM and Ichimoku, whose win rate in this research was at least 66%, is more profitable than the investment method based on CANSLIM. In this study, the criteria of new higher prices, market direction, and the institutional sponsorship, which are the constituent elements of adjusted consensus, were recognized as the most effective indicators for identifying superior stocks.

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References

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