Is anyone interested in sharing scans that they have written? I find formulating scans is a slooooow process, with lots of fine tuning, to eventually get the results I want, without a lot of extraneous charts.
I really marvel at the resident pros who can zero in on what the scan should ask for, but more importantly, what the scan shouldn't ask for. My brain just doesn't function in that manner, so when I finally come up with a scan that delivers what I am looking for, I feel a bit victorious.
Mostly, I'm a position or swing trader, so I'm looking at the shorter term. Not swinging for the fences, just a 5 to 10% gain and I'll move on. If it happens intraday, I'll take it.Usually, it's a week or even two.
Just to start things off,this is a simple scan for a Stochastic breakout over the 20 oversold line. Finds lots of nice hinges. I just trade Canadian stocks, so if you want US stocks, change "country" to "United States"
There will be lots candidates on the list today, just because of the selloffs last week, but normally, for Canadian stocks, I get about a dozen candidates each day.I'm not sure how many US stocks would normally be generated.
So here's the scan. Maybe others have an addition or improvement to it, such as combining it with a trend or volume indicator. That would lower the number of candidates, but also increase their potential. You should be able to just copy and paste the scan into the Advanced User "Scan Expression" box.
[type = stock] and [country = canada] and [daily sma(20,daily volume) > 40000] and [daily sma(60,daily close) > 2] and [2 days ago daily full stoch %k(14,3,3) < 20] and [daily full stoch %k(14,3,3) > 20]
Anyone else like to add a scan. We could develop a nice library.
