Education - Short Term Long Scan
I use this scan to find short term long trade setups. It works well once the market consolidates for 2 - 4 days after falling sharply over a period of weeks. Although I run it daily, it has historically produced a multiple of candidates only a few times over the course of a year. When I scroll through the charts, I look for stocks where the price action is "stretched" from the 50 Day Moving Average. Also, I want the 8 Day Moving Average to be "curling up" and under the closing price. The scan with examples:
Scan #1
[type = stock] and [daily sma(20,daily volume) > 100000] and [daily sma(60,daily close) > 1] and [daily close >= yesterday's daily close] and [daily close >= daily sma(8,daily close)] and [daily close <= daily sma(50,daily close) * 0.75] and [daily close <= daily sma(20,daily close)] and [2 days ago daily close <= daily sma(8,daily close)] and [daily close <= 80] and [daily low <= daily sma(8,daily close)]
Scan #1
[type = stock] and [daily sma(20,daily volume) > 100000] and [daily sma(60,daily close) > 1] and [daily close >= yesterday's daily close] and [daily close >= daily sma(8,daily close)] and [daily close <= daily sma(50,daily close) * 0.75] and [daily close <= daily sma(20,daily close)] and [2 days ago daily close <= daily sma(8,daily close)] and [daily close <= 80] and [daily low <= daily sma(8,daily close)]
Example #2
Scan #2
[type = stock] and [daily sma(20,daily volume) > 75000] and [daily sma(60,daily close) > 1] and [daily close <= daily sma(8,daily close)] and [daily close <= daily sma(50,daily close) * 0.50] and [daily close <= daily sma(20,daily close)] and [daily close <= 20] and [daily low <= daily sma(8,daily close)] and [daily high >= daily sma(8,daily close)]
Scan #3
[type = stock] and [daily sma(20,daily volume) > 100000] and [daily sma(60,daily close) > 1] and [daily close >= yesterday's daily close] and [daily high >= daily sma(8,daily close)] and [daily close <= daily sma(50,daily close) * 0.75] and [daily close <= daily sma(20,daily close)] and [2 days ago daily close <= daily sma(8,daily close)] and [daily close <= 80] and [daily low <= daily sma(8,daily close)] and [daily close <= daily sma(8,daily close)]
[type = stock] and [daily sma(20,daily volume) > 75000] and [daily sma(60,daily close) > 1] and [daily close <= daily sma(8,daily close)] and [daily close <= daily sma(50,daily close) * 0.50] and [daily close <= daily sma(20,daily close)] and [daily close <= 20] and [daily low <= daily sma(8,daily close)] and [daily high >= daily sma(8,daily close)]
Scan #3
[type = stock] and [daily sma(20,daily volume) > 100000] and [daily sma(60,daily close) > 1] and [daily close >= yesterday's daily close] and [daily high >= daily sma(8,daily close)] and [daily close <= daily sma(50,daily close) * 0.75] and [daily close <= daily sma(20,daily close)] and [2 days ago daily close <= daily sma(8,daily close)] and [daily close <= 80] and [daily low <= daily sma(8,daily close)] and [daily close <= daily sma(8,daily close)]
Comments
I use stockcharts.com for everything. Although I use the "Advanced Engine," most come from "Standard Engine."
Regards,
Tony