Scanning for Pullbacks in ThinkorSwim

kiyokaze

New member
How do I know which stocks are pulling back? Is there a scanner to help me do that in TOS? 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?

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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.

be7tJkV.png


^ 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?
 
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MatthewA

Active member
VIP
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???
 

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)
 

mbrandau

New member
Anyone heard of the 1-2-3 Pullback pattern? I've searched for this type of indicator and cannot find it. There's 1 guy claiming on youtube to have it in action but charges $800 for it, can't find it now unfortunately. Anyway, this is an actual trading theory that concentrates on trading in the direction of the 200 SMA. So if you are trending up, you only look for long positions. First it must start with a green candle (1), go up (2), pull back a little and then that bullish green candle would be (3) and where you take your long trade. So I need something like that please.

Obviously the opposite 1-2-3 on a chart trending down, then you only look for short positions.

This is for Commodities/Futures trading. I would think this can be used in Forex and stocks too. (reference: http://www.online-stock-trading-guide.com/123-reversal-pattern.html)

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There's an example of it happening between midnight and 1:45am Friday morning EST

0ax45Yx.png
 
Last edited by a moderator:

Moose

Member
Not sure if this is what you're looking for.

Code:
# 1-2-3 Trend Change labels for bottom of Mobius Wolf Wave v01
# Nube 7.18.18 
plot SupportLineS3S2 = if x == HighestAll(S3PLBarOrigin)
                    then S3
                    else if x == HighestAll(S2PLBarOrigin)
                         then S2  #Parentlow
                         else Double.NaN;
SupportLineS3S2.EnableApproximation();
SupportLineS3S2.SetDefaultColor(Color.White);
SupportLineS3S2.SetLineWeight(1);
SupportLineS3S2.SetStyle(Curve.LONG_DASH);
def slopeS3S2 = (S3 - S2) /
               (HighestAll(S3PLBarOrigin) - HighestAll(S2PLBarOrigin));
plot ExtLineS3S2 = if x >= HighestAll(S2PLBarOrigin)
                then (x - HighestAll(S2PLBarOrigin)) * slopeS3S2 + S2
                else Double.NaN;
ExtLineS3S2.EnableApproximation();
ExtLineS3S2.SetDefaultColor(Color.White);
ExtLineS3S2.SetLineWeight(1);
ExtLineS3S2.SetStyle(Curve.LONG_DASH);
plot SupportLineR3R2 = if x == HighestAll(R3PHBarOrigin)
                    then R3
                    else if x == HighestAll(R2PHBarOrigin)
                         then R2  #Parentlow
                         else Double.NaN;
SupportLineR3R2.EnableApproximation();
SupportLineR3R2.SetDefaultColor(Color.White);
SupportLineR3R2.SetLineWeight(1);
SupportLineR3R2.SetStyle(Curve.LONG_DASH);
def slopeR3R2 = (R3 - R2) /
               (HighestAll(R3PHBarOrigin) - HighestAll(R2PHBarOrigin));
plot ExtLineR3R2 = if x >= HighestAll(R2PHBarOrigin)
                then (x - HighestAll(R2PHBarOrigin)) * slopeR3R2 + R2
                else Double.NaN;

ExtLineR3R2.EnableApproximation();
ExtLineR3R2.SetDefaultColor(Color.White);
ExtLineR3R2.SetLineWeight(1);
ExtLineR3R2.SetStyle(Curve.LONG_DASH);

plot bull123 = R3 > R2 &&
               S1 > ExtLineR3R2 &&
               close > S1;          
plot bear123 = S3 < S2 &&
               R1 < ExtLineS3S2 &&
               close < R1;
bull123.Hide(); 
bear123.Hide();            
AddLabel(bull123, " 1 - 2 - 3  Trend Change ", CreateColor(75,225,75));          
AddLabel(bear123, " 1 - 2 - 3 Trend Change ", CreateColor(225,75,75));
 

TonXas

New member
VIP
Is there any way to make an indicator or scanner for the first pullback to a moving average once the fast crosses the slow?
Specifically, I'm looking for the 13ema to cross the 50ema, and the entry would be the first pullback to the 50ema.
 

rad14733

Well-known member
VIP
@TonXas The only way to code such an indicator, regardless of type, would be to have a specific number of bars after the first crossover before the pullback to the 50 EMA occurs OR a price amount of pullback... We can't code in fuzzy logic that your eyes might be able to interpret...
 

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