I have been trying to find various ways one can design the scan/code/rank to find a strong sectors/industry group in the market.
this really makes our life easier to find a big winner rather than going through many socks in weak industry group.
I have following idea which I am exploring, if you guys have any other please share it here. At the end I am planning to backtest these ideas and see how they perform.
1) By general industry groups price change in last 10 / 20 / 40 days.
2) Using various Relative strengths ( Compare to major indexes, strength based on price movements and volume movements)