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Low Risk Bounce Play Reverse?


New member
Hey guys,

There is a low risk bounce strategy that I found and use effectively. My strategy is I set up three standard deviation channels on my chart (1.0, 2.0, 3.0) and the scanner alerts me when a stock is bouncing down and the strategy I follow is:

*If a stock is between 1 deviation and I am interested, I buy/sell shares only
  • If a stock is between 2 deviation, I look for entry to buy or sell shares -OR- I get in an option or buy shares with small risk
  • If a stock is between 3 deviation, I wait for entry and I will take more risk with stock or options

The scanner I use does a good job finding them on the "bounce" but this method as I follow seems to work great too when it hits the high part of the channel to play on a put or short a stock.

Could you help me reverse this scanner to create scanner that will notify when its at the top, reverse of a bounce?

Scanner settings, I use:

STOCK> Market Cap, $M: 500M min, no max
STOCK> Volume, 1,000,000 min (intraday) 400k premarket)
STOCK> Last, over $20 intraday), over $5 premarket)
STUDY> StandardDevChannel ("deviations" = 1.25). "LowerLine" is greater than close 1 MIN
STUDY> StandardDevChannel ("deviations" = 1.20). "LowerLine" is greater than close 5 MIN

This most likely will be easy for you guys and probably something really easy and stupid but I am not great with this kind of stuff, lol.

Thank you!


Well-known member
first of all there's no scanning for marketcap on TOS as of todays date
2nd unless you manually aggregate by BOTh the total bars on the chart and time then TOS does a bad job at scanning for StandardDevChannel

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