A general scan for success Idea

[strategynode]

I am not sure if this is even possible but I will try to explain it as well as I can.

Observation: while there is no silver bullet as far as indicators go I have noticed that some indicators tend to work a lot better on a stock vs the next one. This got me thinking if there is a way to increase the success probability of a scan result for any scannable indicator. sought of mini backtesting.

Definitions:
LongSuccess = Low>Low[2]
ShortSuccess = High<High[2]

Example Variables: RSI Breakout signal - time frame agnostic would be great but for this example, let's say a 3-year weekly chart

Scan 1: RSI Long Breakout signal
If Signal TRUE today then check if other signals during the time frame exist and if so then was LongSuccess true in more than 60% of the cases
Result: IF above satisfied then show stock on the scan

Scan 2: RSI Short Breakout Signal
if signal TRUE today then check if other signals during the time frame exist and if so then was ShortSucess true in more than 60% of the cases
Result: IF above satisfied then show stock on the scan

 

[TrueDepth]

You can't really do this as a scan. You can do it as a strategy. Get the win rate, then do the scan.

 

[strategynode]

You can't really do this as a scan. You can do it as a strategy. Get the win rate, then do the scan.

Can you point me to an example of how this might work. I am not very familiar with strategies on thinkorswim. Any help will be much appreciated.

 

[TrueDepth]

Try this thread.

Extended Floating Profit & Loss - Backtesting data utility = Label for Success rate of strategy