I need help setting up my PCF as a day trader with these criteria

1: Low float ( float< 10 million preferred, < 20 million

2: High relative volume ( at least 2x average)

3: Have good daily volume/ ideally at leat 1- 1.5 million shares

4: have good daily travel range $1.00 or more 

5: Are priced in the region of $ 1.00 - $20.00

6: Volume spiking at or around time of entries. 

Float can't be included in Personal Criteria Formulas because there is no syntax available for referencing fundamentals.

You can however add it as an EasyScan Condition where you will be allowed to set the values to be between specific ranges.

You will probably want to add both a daily Condition Formula and an intraday Condition Formula to the EasyScan as well.

The daily Condition Formula would check for most of your requirements.

V >= 2 * AVGV20 AND V >= 1000000 AND H - L >= 1 AND 1 <= C AND C <= 20

And the intraday Condition Formula would check for the volume during the current intraday bar to be above average as well.

V >= 2 * AVGV20

Hi Bruce, if I want to use the same formula. But change the price. From $1 to $5. Would I do it like this example? Like I'm gonna show you know by changing this thing at the end. Thank you very much please get back. 

You did it exactly right. The part at the end is the range.

C stands for the current or closing price.

I like to use that particular format when writing it because it has the low value to the left and the high value to the right with price in the middle.

If you look at the <= the smaller part points to the left and it gets bigger as it goes right, so it visually brackets price in a way that highlights that price is in the middle of these two values.

Bruce: I finally got around to taking a look at this thread. You said:

And the intraday Condition Formula would check for the volume during the current intraday bar to be above average as well.

V >= 2 * AVGV20

Is that a modification of the previous formula or a standalone scan? I tried both and got inconsistent results. Thank you.

It is a standalone formula, but uses a different time frame than the main daily formula. I don't know what time frame you would want to use, but something shorter than daily.

You would then add both formulas to the same EasyScan.

Thank you for clarifying that, Bruce.

Bruce: I spoke too soon. I used the first one, but widened the price to a range of 5 to 50. It yielded 16 stocks. I then added the 2nd one, and no mater what period I use (1 min. to 1 hour), there are no results. Is it just that there are no stocks that fit the criteria?

Isn't the 2nd one only scanning "this" period? If that's the case, it seems that, logically, it would mainly work during the first and last period of the day, or at least the first.

Comments?

If you are only getting 16 stocks, it might be better to just look at them instead of adding another requirement.

V is in fact this period. It is designed to catch volume spiking at the time of entry.

If you wanted to use the previous period, you could use something like:

V1 >= 2 * AVGV20.1

Or maybe a hybrid of the two.

AVGV2 >= 2 * AVGV20

And you can adjust the periods if you don't want to compare the the current volume to something other than the most recent 20 bars.

Another option is to use a 1 minute time frame so things are less spikey (volume is higher at the end of the bar than the beginning).

So let's say you wanted to compare the most recent hour to the a full rolling day using a 1 minute time frame (which would extend into the previous trading day).

AVGV60 >= 2 * AVGV390

It would still have the problem that the biggest spikes are usually during the start and end of the day. So it wouldn't trigger as much in the middle of the day.

Thanks, Bruce.

Not that I have a ton of daytrading experience, but from what I understand, the lion's share of best opportunities are caught in scans that include after-hours the day before, and the pre-market (especially during earnings season, but also based on significant announcements).

Let's pretend it's 9:00AM and the scan includes after 4:00PM the day before through the present. Given that, can TC2000 scan separately for the above volume spikes?

I'll work on the above ideas you provided, but I'm wondering about extended hours, as well.

It is not possible to scan or sort based on the pre and post market data in TC2000 currently.