Westgold Resources

Candlestick Daily volume index Bar reversal Edit

Backtest results

Position Trades Duration Win rate Win/loss Avg win Avg loss Return
Long 10 4.5 20% 25% 1.6% -0.8% -3.4%
Short 5 4.2 40% 67% 1.9% -3.2% -5.9%

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Company

Indicator

Code Company Date Close Change Indicator Value Signal

Trading Performance

Supertrend

Score

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No data available.

Summary

Technical Analysis

Westgold Resources (WGX.AX)


Indicator:

SUPERTREND


Last Signal:

NEUTRAL


Trading: HOLD @ $1.955
Signal Strength: STRONG
Recommendation:

Indicator can be used in isolation or in additional to another technical indicator to confirmation for trading entry. This indicator has been constructed to highlight the existence of a trend for an assocaited timeframe. Trend determining indicators can be used in short, medium or long term timeframes & determines if the stock is trending or ranging. Once the trend status is quantified, this can then be coupled to additional indicators to add a significant advantage to the trading strategy.


Westgold Resources (ASX:WGX)


The Supertrend is a trend following indicator which identifies uptrends and downtrends. The SuperTrend indicator is calculated utilising the ATR to offset the indicator from the common price. Before understanding the supertrend indicator, understanding the ATR is essential as super trend employs ATR values to calculate the indicator values. This indicator fluctuates above and below 0 signalling the current direction of the trend. This is a lagging trend indicator that assists in defining trend directions does not perform well in ranging markets.

Calculation: Supertrend (SUP) :
1) Basic Upper band = (High + Low) / 2 + Multiplier * ATR;
2) Basic Lower band = (High + Low) / 2 - Multiplier * ATR
3) Final Upper band = IF((Basic Upper band < Final Upper band(yest)) OR (Close(yest) > Previous Final Upper band(yest))) THEN (Basic Upper band) ELSE Final Upper band(yest));
4) Final Lower band = IF((Basic Lower band > Final Lowerband (yest)) OR (Close(yest) < Final Lower band(yest))) THEN (Basic Lower band) ELSE Final Lower band(yest));
5) Supertrend = IF(Close <= Final Upper band ) THEN Final Upper band ELSE Final Lower band;
Where Multiplier = 3; Period=14


PROFILE: Westgold Resources (WGX.AX)


Stock Exchange: ASX
Company: Westgold Resources
Ticker Codes: | WGX.AX | ASX:WGX |

About Westgold Resources (ASX:WGX):

Westgold Resources Limited engages in the exploration, development, mining, and treatment of gold assets in Western Australia. The company's principal assets include the Higginsville gold project, South Kalgoorlie gold project, Central Murchison gold project, Fortnum gold project, and Rover project. It also explores for iron oxide, copper, lead, zinc, and silver deposits. The company was founded in 1987 and is headquartered in Perth, Australia.

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