Registered User
Joined: 3/17/2005
Posts: 3
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Could you please help me create a new scan. I would like the scan to search for stocks using the following |
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parameters. I believe this would be a candle pattern scan. |
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This scan is to be based on the price of stocks |
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Volume of selected stocks to be al lease 100,000 for the last 125 bars |
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Price of stocks to be between $9.00 and $200.00. |
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to start, look for a stock with a price up trend of at least a 5 bars. |
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Following the stock up trend; the stock should show a reversing candle showing the beginning |
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of a down trend. (ie a hangman, bearish ingulfing candle etc.) |
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the down trend needs to be for 5 bars or more |
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the 6th bar needs to be a up trend reversal candle. ( ie a hammer, bullish engulfing etc.) |
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Please look at a stock symbol AET. It is a good example of what I am looking for. |
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I used a 6 month daily chart to show this example |
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Beginning on July 3 2013 it shows the beginning of an up trend…... |
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Then on July 11 a down trend reversal candle appears …… |
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Then for 5 days a price down trend occures till July 17 2013. |
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on July 18 2013 a up trend reversal candle appears. |
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I would like for the scan to look for stocks using a bullish hammer reversal candle or |
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I would like for the scan to look for stocks using a bullish engulfing reversal candle or |
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I would like for the scan to look for stocks using a bullish piercing reversal candle or |
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I would like for the scan to look for stocks using a bullish haramy reversal candle |
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I believe maybe a separate scan is needed for each of the reversal candles after the 5 days down |
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If you have any more questions or need some more information, please let me know!!! |
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DEAN HUDSON |
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Worden Trainer
Joined: 4/26/2007
Posts: 508
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Hi Mr. Hudson,
I've put together a Personal Criteria Formula that will identify any stocks (or other symbols) that exhibit either a Hammer, Engulfing, Piercing, or Harami today. I did not include in the formula the requirements for previous trend and previous bearish reversal. If you create a sort column using this included condition each day, you'll be able to quickly look through the results and qualify them to see if they meet your short term trend requirements.
My hesitation in including the trending information in the condition is that by writing that requirement into the condition, you'll likely end up excluding results that you'd actually like the look of. This condition right now is returning only one symbol out of 1000.
Here's the PCF Formula:
ABS(C-O)<=.2*(H-L) AND ABS(O-C)>=.1*(H-L) AND (O-L)>=.5*(H-L) AND (C-L)>=.5*(H-L) AND (H-O)<=.05*(H-L) OR (H-C)<=.05*(H-L) AND (H-L)>=.8*(AVGH10-AVGL10) AND (L=MINL5) AND (H>L) OR ((O1-C1)>=.7*(H1-L1) AND (H1-L1)>=(AVGH10.1-AVGL10.1) AND (C>O) AND (O>C1) AND (C<O1) AND (C-O)<=.6*(O1-C1)) OR ((O1>C1) AND (C-O)>=.7*(H-L) AND (C>O1) AND (O<C1) AND (H-L)>=1.2*(AVGH10-AVGL10)) OR ((O1>C1) AND (H1-L1)>=(AVGH10.1-AVGL10.1) AND (O<C1) AND C > C1+.5*(O1-C1) AND (C<O1))
Within TC2000,
Click the New Button on the Main Toolbar
Choose PCF Condition
Copy and paste the provided formula into the Editor field (and provide a name)
Select OK, and choose to Create a Column within a WatchList
As a result, you should see any item with any of the listed candle patterns marked with a check mark in the list.
I hope this helps.
Best,
Julia Ormond
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