Interesting, I do find the scans work on penny stocks but I have a fairly high volume requirement that may help. I don't find scans or charts are reliable when it comes to low volume stocks.
My parameters are far from normal and you probably won't see them on any other scans or charts. A quick answer would be they are based on J M Hurst's cyclical analysis. Hurst was one of the early technical geniuses and developed many of the indicators we rely on today.
You can substitute the more common 10/20/40/100/200 day, the results will be virtually the same.
Hope we can learn something together! fred
Warning - All posts are JFDAO (Just Fred's Dumb A$$ Opinion)