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Low priced, flat bottom, with recent up trend Rate this Topic:
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msv43
Posted : Thursday, February 23, 2017 1:11:04 PM
Gold Customer Gold Customer

Joined: 1/6/2013
Posts: 6

I am having a difficult time trying to write a scan that will search for low priced ( one to ten dollar) stocks that have been relatively flat for six to nine months and have recently started moving up. 


The breakout, or upward movement, ideally would be at least 10% on the dollar stocks tapering down to 5% on the ten dollar stocks.  That would be a nice option but a 5 bar upward trend would be fine.

Bruce_L
Posted : Thursday, February 23, 2017 2:33:14 PM


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Joined: 10/7/2004
Posts: 59,307

1 <= C AND C <= 10 AND L5 = MINL6 AND MAXH6 = H AND C5 * (1.05 + .05 * (10 - C) / 9) <= C AND AVGC6 < FAVGC6

The 5 day uptrend in the following Condition Formula requires at least the specified price percent change in closing prices, the low of the first bar to be the low of the period, the high of the last bar to be the high of the period and a positive linear regression slope over the period.

The current price must be between one and ten dollars. The 5 period percent change required tapers in a linear fashion from the 10% for one dollar stocks to the 5% for ten dollar stocks.

This seems to in and of itself return a fairly limited selection of stocks when using the US Common Stocks WatchList as the List to Scan in an EasyScan.

It does not have any requirements for the relatively flat six months prior to the move. I do not know how you want to define this. Is there a particular dollar or percent range in prices which would qualify the price action as "flat"?



-Bruce
Personal Criteria Formulas
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msv43
Posted : Friday, February 24, 2017 1:40:57 AM
Gold Customer Gold Customer

Joined: 1/6/2013
Posts: 6

Thanks Bruce - I'm going to confer with a friend of mine (also a gold member) and work a little more on this.  I hope it's OK to get back to you early next week.

Mike

msv43
Posted : Monday, February 27, 2017 1:57:08 PM
Gold Customer Gold Customer

Joined: 1/6/2013
Posts: 6

Hi Bruce-

Here's what we have come up with.  The scan would ideally consist of a multi-month down trend, followed by a six month flat base.  (the definition of "flat" would be a five percent price range.)  The breakout parameters can remain as is.

If it would be useful to look at a chart for clarification, a daily chart for IPI just about sums it up.

thanks,

Mike

 

Bruce_L
Posted : Monday, February 27, 2017 3:00:59 PM


Worden Trainer

Joined: 10/7/2004
Posts: 59,307

Are you sure the example symbol is IPI?

The narrowest 6 month range on IPI on a daily chart in TC2000 was the 90.23% period ending 9/17/15.

The recent narrow 6 month range for IPI ending 12/6/16 was 96.77%



-Bruce
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855MRZILLA
Posted : Monday, February 27, 2017 4:25:03 PM

Gold Customer Gold Customer

Joined: 11/16/2015
Posts: 95

Brutal I wanted to use this time nine months this is how I would do it    is this how I went set it up to do the easy scan for me let me know

1 <= C AND C <= 10 AND L5 = MINL9 AND MAXH9 = H AND C5 * (1.05 + .05 * (10 - C) / 9) <= C AND

AVGC6 < FAVGC6

Bruce_L
Posted : Monday, February 27, 2017 4:36:48 PM


Worden Trainer

Joined: 10/7/2004
Posts: 59,307

The L5 = MINL6 AND MAXH6 = H AND C5 * (1.05 + .05 * (10 - C) / 9) <= C AND AVGC6 < FAVGC6 portion of the formula is what defines the 5 bar uptrend.

There is a minimum of 5% to 10% uptrend with a positive linear regression slope in closing prices and the lowest low being at the beginning of the span and the highest high being at the end of the span.

Note that the 5-10% variable minimum change is specifically tailored to stocks priced $1 to $10. If you change this range, the formula will not work correctly.

The six month narrow range is not defined in the formula at all. So there is no way to change it from six to nine months.

If you were to define a narrow range as being a maximum 30% price range over six months in a daily time frame, it would be something like the following.

MAXH126 <= 1.3 * MINL126

While the same thing for a nine month span on a daily chart would be the following.

MAXH189 <= 1.3 * MINL189



-Bruce
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msv43
Posted : Monday, February 27, 2017 4:58:17 PM
Gold Customer Gold Customer

Joined: 1/6/2013
Posts: 6

Yes, IPI is the example symbol.  The downtrend portion is April 2015 to April 2016.  Flat bottom portion April 2016 to December 2016. Up-trend December 2016 'til present. 

I apologize if we haven't described the time frame(s) correctly.  We are certainly newbies as far as custom scans.

Bruce_L
Posted : Tuesday, February 28, 2017 10:26:22 AM


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Joined: 10/7/2004
Posts: 59,307

The high of IPI over the six months ending 12/6/16 was 96.77% above the low of IPI over that same six months. So I am switching from using the actual percent range to using the six month range as a percent of the 18 month range which does bring IPI to below 10%.

The following Condition Formula currently only returns true for one Canadian symbol (WEQ.TO). It adds the six month range be 10% or less of the 18 month range to check for being relatively flat. And it checks for the high of the six month range being in the bottom 20% of the 18 month range to check for the downtrend.

1 <= C AND C <= 10 AND L5 = MINL6 AND MAXH6 = H AND C5 * (1.05 + .05 * (10 - C) / 9) <= C AND AVGC6 < FAVGC6 AND 10 * (MAXH126 - MINL126) <= MAXH378 - MINL378 AND 5 * (MAXH126 - MINL378) <= MAXH378 - MINL378

While it is currently only true for one symbol, it has been true at least once for 110 symbols during the last six months (including IPI) when using the prices as currently adjusted (so not necessarily the price at the time if there was a split for example).

ADVM AEZS AFMD AMDA ARGW AVACF AZURQ BCEI BNDSY BTUUQ CBIO CBMX CGLD CHKR CJJY CLDX CLRB CMRX COLVD CRCOD CTIC CUR DCM.TO DGPIF DIBZ EGLE ELCO ELON ETRM EVEP FIFG FNCX GNK GOGL GOPH GTHP GWLLF HK HOVVB HTCO IEGH IHRT IMGN INFI IPI IPO.TO IPOOF JOEY KBIO KBSF LLEX LNMIY LUPAQ MCCRF MPFRY MRNS MRTX NAL.TO NEOT NMM NSPR NWLTF ONTX OPHLY OREX OSIR PDGRY PDL.TO PMGYF PMT.TO POI.H.V PRSEY PTCT PTX RBYCD RMX.TO RNVA RRRT RTOXF RWNEF SALT SNTX SRLY STV SXE TACBY TEUFF THFWF TK TLK.V TORSF TTPH TVFZF TVIX URRE USRE VLOUF VPRB VSLR VSTM WCVC WEICF WEQ.TO XBIO XGTI XREE YHDT YONGY ZDPY ZFGN



-Bruce
Personal Criteria Formulas
TC2000 Support Articles
msv43
Posted : Wednesday, March 01, 2017 9:43:14 AM
Gold Customer Gold Customer

Joined: 1/6/2013
Posts: 6

These scans provide plenty to work with, and tweak, if desired. It's true there aren't a lot of hits with a scan like this.

It's been quite an education; thanks Bruce and 885MRZILLA. We'll put these formulas to work.

Bruce_L
Posted : Wednesday, March 01, 2017 9:48:06 AM


Worden Trainer

Joined: 10/7/2004
Posts: 59,307

You're welcome.



-Bruce
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