Hi Bruce, I currently scan for volume using market rank above 40%. This list seems to let spiked volume candidates through that otherwise wouldn't make the cut. What is the best way to keep them out when they generally trade less than 100,000 shares per day otherwise? I want to see high and low volume days in the population I want trade however and thus my quandary. Can this be accomplished with a PCF or scan or must they be eliminated manually? After reading this I may have the answer as I can't even articulate my query objectively. I hope you can get the idea however!

Thanks, Grant

Have you tried scanning for average volume instead of volume with a market rank above 40%?

Hi Bruce, I have a simple scan that filters out stocks 30% off of a 6 month high along with price and volume criteria. My objective is to further filter for stocks that have begun to bottom. You helped me with a 10 and  50 day MA crossover which I would like to add a condition to. That is a 60 day or greater time period before the crossover indicator is triggered. I'm looking for a period of time that a stock can be in a down trend before I start getting a bunch of false alerts with my scan. Thank you for your expertise

So you want the SMA10 to have been below SMA50 for at least 6 months before crossing up today?

We could write a Condition Formula for this, but it would be quite long as we would have to check for every single day individually in the formula.

A better way to do this would be to use the following Condition Formula as the Boolean Formula in a Custom PCF % True Indicator.

AVGC10.1 < AVGC50.1

By itself, this would only check for the 10 period simple moving average being below the 50 period simple moving average yesterday when using a daily time frame.

But, we can set the Period of the Custom PCF % True Indicator to 126 and the Average Type to Simple to have it check for the percentage of the time this was true during the most recent six months.

The Custom PCF % True Indicator will return 100 if and only if its Boolean Formula was true for all of the most recent 126 bars. So you can click on the Custom PCF % True Indicator and select Create Scan Condition to create a condition for the value of the Custom PCF % True Indicator being greater than 99.99 to check for downtrend portion of your EasyScan.

Create Conditions from Your Chart (5:25)

You can then add this new condition to the same EasyScan as all of your other conditions (including the condition for the 10 period moving average crossing up through the 50 period moving average).

Building a Scan with Multiple Conditions (7:29)

Hi Bruce, actually the 10 SMA should be below the 50 for at least 2 months bfore crossing up.. thanks

You would just need to change the Period setting of the Custom PCF Indicator from 126 to 42 to check for 2 months instead of 6 months.