I have a system that nets a mere 10% yearly but with a huge number of stocks , I am trying to cut down the number significantly on the number of stocks and I'm ideally looking to cut down based on absolute strength, and basically what im looking for is some metric that can be back tested and that tells me when the stock is seriously oversold so that it snaps without much drawdown or maybe it holds well with less overall drawdown and moves/trends strongly(is strong)
I have been trying to find something that can go well with the system and if someone has some scans or any system that can help with relative strength that can support me i would greatly appreciate the ideas