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a scan to find stocks with good support Rate this Topic:
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mjbarton
Posted : Wednesday, August 24, 2016 7:02:45 AM
Platinum Customer Platinum Customer

Joined: 2/13/2005
Posts: 19

I need a scan to find stocks that:

Have demonstrated good support for the past 2 years. Maybe bounced off the support at least 4 times over the 2 years. Have at least a 10% spread between support and resistance. not too thinly traded. Maybe greater than 500,000 shares/day average. Thank you.

Putt4Dough
Posted : Wednesday, August 24, 2016 8:36:05 AM

Registered User
Joined: 7/30/2007
Posts: 1,072

QUOTE (mjbarton)
I need a scan to find stocks...

Hi mjbarton, don't we all? :)

I think you're going to have to come up with a more specific, objective, and unambiguous defintion. Daily average volume of half-a-milllion shares is a start, but how do you define support? Resistance? "Bounced"?

Inquiring computers need to know. 

mjbarton
Posted : Wednesday, August 24, 2016 8:39:04 AM
Platinum Customer Platinum Customer

Joined: 2/13/2005
Posts: 19


I want the resistance to be obvious over the last 2 years and yes bouncing off of the support/resistance would happen

Putt4Dough
Posted : Wednesday, August 24, 2016 8:51:48 AM

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Joined: 7/30/2007
Posts: 1,072

Looks like Bruce just walked in, so he'll be able to help you soon, but I'm just trying to help you clarify what you really want to ask for.

For example, what's "obvious" to you isn't obvious to a computer scanning stocks. That's why I suggested a more specific and objective operational definition. Computers aren't that smart. Yet. :)

mjbarton
Posted : Wednesday, August 24, 2016 9:39:57 AM
Platinum Customer Platinum Customer

Joined: 2/13/2005
Posts: 19

like I posted earlier. It bounces off the support at least 4 time over the last years. so whatever the price is that it supports the price.

Putt4Dough
Posted : Wednesday, August 24, 2016 9:48:34 AM

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Joined: 7/30/2007
Posts: 1,072

Okie-doke. Grab a number and wait in the lobby. Bruce will be with you momentarily. :)

Bruce_L
Posted : Wednesday, August 24, 2016 10:45:08 AM


Worden Trainer

Joined: 10/7/2004
Posts: 65,138

I cannot think of a way to create a Condition Formula for good support using the definition of bouncing off support at least 4 times over the last 2 years.



-Bruce
Personal Criteria Formulas
TC2000 Support Articles
mjbarton
Posted : Wednesday, August 24, 2016 11:44:34 AM
Platinum Customer Platinum Customer

Joined: 2/13/2005
Posts: 19

anything at all that would show a stock with good support over the last 2 years?

Bruce_L
Posted : Wednesday, August 24, 2016 12:03:21 PM


Worden Trainer

Joined: 10/7/2004
Posts: 65,138

Maybe something like the following?

MINL63 <= 1.03 * MINL252 AND 1.1 * MINL252 <= MAXH63 AND MINL63.63 <= 1.03 * MINL252 AND 1.1 * MINL252 <= MAXH63.63 AND MINL63.126 <= 1.03 * MINL252 AND 1.1 * MINL252 <= MAXH63.126 AND MINL63.189 <= 1.03 * MINL252 AND 1.1 * MINL252 <= MAXH63.189 AND AVGV252 > 500000

It divides the year into four equal segments. Then it checks for the lowest low in each of those segments to be within 3% of the lowest low over the year, with the high in each of those segments being at least 10% above the low over the year.

The four bounces would have to be fairly evenly spread and the support would need to be the low over the year, but it is about is close as I can come to the definition.



-Bruce
Personal Criteria Formulas
TC2000 Support Articles
mjbarton
Posted : Friday, August 26, 2016 11:46:31 AM
Platinum Customer Platinum Customer

Joined: 2/13/2005
Posts: 19

thanks. Could you also tell me how to find a stock where the difference between the MACD 12 26 and the exp moving average 9 is less than it was yesterday. i.e. the macd is getting closer to the exp moving average.

Bruce_L
Posted : Friday, August 26, 2016 11:50:50 AM


Worden Trainer

Joined: 10/7/2004
Posts: 65,138

Please try the following Condition Formula.

ABS(XAVGC12 - XAVGC26 - XAVG(XAVGC12,9) + XAVG(XAVGC26,9)) < ABS(XAVGC12.1 - XAVGC26.1 - XAVG(XAVGC12.1,9) + XAVG(XAVGC26.1,9))



-Bruce
Personal Criteria Formulas
TC2000 Support Articles
mjbarton
Posted : Friday, August 26, 2016 12:09:03 PM
Platinum Customer Platinum Customer

Joined: 2/13/2005
Posts: 19

I get error in formula sytanx error?

Bruce_L
Posted : Friday, August 26, 2016 12:15:43 PM


Worden Trainer

Joined: 10/7/2004
Posts: 65,138

The syntax of the formula should be fine. If you are using Edge or Internet Explorer, try using Chrome. You could also try copying and pasting into a text editor like Notepad and then copying and pasting from the text editor into TC2000.



-Bruce
Personal Criteria Formulas
TC2000 Support Articles
Putt4Dough
Posted : Friday, August 26, 2016 12:17:06 PM

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Joined: 7/30/2007
Posts: 1,072

Works for me. Perhaps you missed a parenthesis when copying & pasting?

Putt4Dough
Posted : Friday, August 26, 2016 12:18:10 PM

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Joined: 7/30/2007
Posts: 1,072

Or what Bruce said. LOL. His fingers are faster than mine. :)

mjbarton
Posted : Friday, August 26, 2016 12:20:51 PM
Platinum Customer Platinum Customer

Joined: 2/13/2005
Posts: 19

Yes, I was using IE.  I double checked it and tried many times before saying there was a syntax error.  BUT, I went to Chrome to cut and paste and it worked!!!  thanks.  

Bruce_L
Posted : Friday, August 26, 2016 12:22:22 PM


Worden Trainer

Joined: 10/7/2004
Posts: 65,138

You're welcome.



-Bruce
Personal Criteria Formulas
TC2000 Support Articles
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