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Registered User
Joined: 12/7/2004
Posts: 22
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Hi: I'm trying to figure out a scan that would allow me to find stocks that are currently priced $10.00 and under, which have an ongoing daily volume of 50,000 or more shares, with stochastics dipping solidly below 20%. These stocks fell from favor about six months ago because of unfulfilled earnings expectations or other baseless hype, and are now at a lower trading range. These stocks also make large daily percent moves of 10% or more of their price. Is it possible to create a scan for these criteria? Thanks.
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Worden Trainer
Joined: 10/1/2004
Posts: 4,308
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Yes, this is definitely possible.
First, create a very simple PCF for your Stochastics condition:
STOC12.5.4 > 20 AND STOC12.5 < 20
This formula would be for Stochastics with a period of 12 days and an SK period of 5. It basically says that this Stochastics line was above 20 4 days ago and is below 20 today. You can adjust this formula to match the scenario that works best for you. Once you create the PCF, make sure to update it, so it can be used in a scan.
Now...create your scan with the following 4 conditions.
1. Stochastics (this is the PCF you just created)
2. Price Per Share - On the value side of the range selector, eliminate all stocks priced above $10.00.
3. Volume 90-Day - On the value side of the range selector, eliminate everything below 5000 (volume is in hundreds, so 5000 really means 50,000)
4. Price Percent Change Today - On the value side of the range selector, eliminate everything below 10.
If you're not familiar with how to create a PCF, click on this link to view a short video that will show you how:
http://www.worden.com/training/default.aspx?g=posts&t=83
If you need instruction on setting up an EasyScan, here is a link to a video that will show you how to do it:
http://www.worden.com/training/default.aspx?g=posts&t=23
Let us know how this works out for you!
- Doug
Teaching Online!
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Registered User
Joined: 12/7/2004
Posts: 22
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Hi Doug: I ran the PCF for Stochastics and the results were False. The market days needed to calculate the criterion is 22. What adjustments have to be made? Thanks.
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Worden Trainer
Joined: 10/1/2004
Posts: 4,308
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The stochastics formula is a boolean formula that will return a true or a false. Both are valid answers. I assume you mean that when you created the PCF, you tested the formula and it came up false. That simply means that your test symbol did not have stochastics above 20 4 days ago and below 20 today. If you used the formula exactly as given above, update it and use it in the scan as suggested and see what happens.
- Doug
Teaching Online!
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Registered User
Joined: 12/7/2004
Posts: 22
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Hi Doug: I ran the formulas with the exception of the price per cent change. I hit the wall when I introduced it into the arrangement. I ended up with 24 charts and seven keepers. This looks really really good! Thanks so much for your assistance.
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Worden Trainer
Joined: 10/1/2004
Posts: 4,308
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Glad it worked out for you. I'm always pleased every time I hear how TeleChart has helped someone find some "keepers"!
- Doug
Teaching Online!
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Registered User
Joined: 10/7/2004
Posts: 12
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Pringing help needed.
This may have been asked and answered elsewhere, but I don't recall having seen it, so here goes: How do I print out a topic? I tried the Print Topic button, also
Options - Tools - Copy and then a paste to Word but got nothing; I also tried right clicking on the screen after using the Print Topic button, choosing Select All, Copy and Paste to Word and still got nothing.
aok
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Worden Trainer
Joined: 10/1/2004
Posts: 18,819
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Did you try FILE and PRINT in you Browser? That should work.
- Craig
Here to Help!
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Registered User
Joined: 10/7/2004
Posts: 12
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I got print to work. Thanks!
aok
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