How to scan for specific breakout pullback?

K

kiyokaze

New member


so i've been using this lately to try to enter at the bottom of huge moves that last for a few weeks to a few months. it only gives a few stocks a day each scan. but after i scan i don't want to buy it instantly i want it to make a new low first or bounce off the 200 sma. i have to just add it to my watch list and wait like a week max to see if its a good setup and THEN buy. what i want to know is if there's a way to scan for something that's already in this position where within the last 10 days these exact things in the scan happened but now a new low was made so then i can just buy the stock the same day i scan. any ideas?

for example, usually on the day i'd want to buy the volume will actually be lower than the unusual volume that happened within the last week or so on the breakout candle. but i don't know how to combine all these things. thanks. basically my current scan is more of an alert to watch it rather than the exact day i should buy. so i want to make it more efficient.



rsi cross above 70 within last 10 bars
price close above 200 sma within last 10 bars
unusual volume increase 200% of 50 periods within last 10 bars

^ ok basically i need this i think. then i can just check the charts on the results to see if it's a good time to buy right?
 
Last edited:
MattATM

MattATM

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I think this is possible to do as a chart indicator 1st and then convert over to a scanner... What would the target be? Perhaps companies that have to complete some work before increasing in value???
 
K

kiyokaze

New member
I think this is possible to do as a chart indicator 1st and then convert over to a scanner... What would the target be? Perhaps companies that have to complete some work before increasing in value???
i'm not sure what you mean by chart indicator. you can create your own?
also i'm not really interested in fundamentals
this just involves riding the new trend as long as possible
i exit if rsi is below 50 / price retraces too close to the previous low or breaks under it (aligns with rsi going under 50 usually) (on daily chart)
 

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