# Is it possible to scan for stocks by candle length?

#### Batman

##### Member
I noticed on Friday that the best performing stocks were all preceded by a long green candlestick at some point early in the morning. I looked around to see if this has been asked before, but is it possible to scan for stocks by candle length? This wouldn't even be a scan, really - it would be a custom watchlist item that filters stocks according to the length of the last candlestick. For instance, the scanner might simply bring up all penny stocks with a volume of over 500,000 people, and the watchlist would have the symbol, last price, % change, and Candle Length (which I imagine would be shown as a percentage number, indicating how long the percentage difference is between the last candle's open and close).

I don't think there's a comparison, because the watchlist column would just show what is the % amount of difference between the previous candle's close and open. If the previous candle closed 8% higher than it opened, then the column would just say 8%, for instance. Do you think that might be a good way to catch parabolic moves early on? They seem to always kick off with a long green candle, or at least a long green candle inevitably appears at some point early on in their parabolic move.

Last edited by a moderator:
@Batman This @mashume Tall Candle study compares the candle to the previous candles (change the "lookback" to define how many previous candles to compare). The size that it looks for is defined by the "threshold" (change the threshold to look for larger or smaller candles).

Ruby:
``````# Tall Candle Definition
input ThresholdMult = 3;
input LookbackLength = 10;
def AverageOverRange = SimpleMovingAvg(price = (high[1] - low[1]), length = LookbackLength);
def CurrentRange = high - low;
plot tallCandle = if CurrentRange >= (AverageOverRange * ThresholdMult) then 1 else 0;
tallCandle.Hide();
AssignPriceColor(if tallcandle then color.blue else color.current);``````

87k+ Posts
284 Online

## The Market Trading Game Changer

Join 2,500+ subscribers inside the useThinkScript VIP Membership Club
• Exclusive indicators
• Proven strategies & setups
• Private Discord community
• Exclusive members-only content
• 1 full year of unlimited support

What is useThinkScript?

useThinkScript is the #1 community of stock market investors using indicators and other tools to power their trading strategies. Traders of all skill levels use our forums to learn about scripting and indicators, help each other, and discover new ways to gain an edge in the markets.

How do I get started?

We get it. Our forum can be intimidating, if not overwhelming. With thousands of topics, tens of thousands of posts, our community has created an incredibly deep knowledge base for stock traders. No one can ever exhaust every resource provided on our site.

If you are new, or just looking for guidance, here are some helpful links to get you started.

What are the benefits of VIP Membership?