How to Scan for Penny Stocks in ThinkorSwim

ezrollin

Member
How would I set up a scan for penny stocks that were not penny stocks on 2/19 when the market fell so violently?

(close < 5.00) < (close[38] > 5.00) ?

I get 7000 matches. My programming is definitely wrong

The idea is to find valuable stuff to buy that wouldn't normally be a penny stock (if we hadn't crashed). So they will have a high chance of recovering out of penny stock land once the recession is over (for high percentage investment gains).

Thanks,
Jon
 
Solution
You're close. It's an interesting idea. Here's some code for your scan.

Code:
close < 5.00
and
close[38] > 5.00

I ran it with close < 2.00 and came back with 62 results. I did not look through the results to verify the prices 38 days ago.

Happy Trading.
-mashume
You're close. It's an interesting idea. Here's some code for your scan.

Code:
close < 5.00
and
close[38] > 5.00

I ran it with close < 2.00 and came back with 62 results. I did not look through the results to verify the prices 38 days ago.

Happy Trading.
-mashume
 
Last edited:
Solution

Join useThinkScript to post your question to a community of 21,000+ developers and traders.

Some interesting stocks I found (thanks to you!!!!)

SRG, BBBY, SASOF, ELVT, MIST, HALL, F, NRZ, etc

I'm fundamentally retarded so I'm not sure what is financially best. I really think that stuff that is more mid cap like SRG will be a lot more promising of returning (not going bankrupt during these times). I'm most interested in stuff like SRG.

Thanks so much,
Jon Ball
 
Last edited:
I have this strategy that is well known for short sellers in micro caps (aka penny stocks) called "bounce short". Basically previous runner day with lots of volume and 70%+ spike on the day followed by a straight dump leaving lots of bag holders as resistance. I would like to make a scanner that indicates when a stock (today) spikes near to that level it used to be in that day of the "pump and dump" lets say around 10-20% range of the pump and dumps day top.

Here's an example:

4ffHNzA.png


I don't know why I find this so hard to script but i'm struggling to do scans for things that happened in previous days. Mostly high volatility days like this.
Any help or guidance will be very appreciated!
 
Last edited by a moderator:
  • Like
Reactions: NKH
Thread starter Similar threads Forum Replies Date
A Engulfing Candle Scan Questions 0
D Power X Scan Questions 0
A Bull/Bear 180 Scan Questions 0
T 3 day low and 8 day low scan Questions 0
rvaidyamath TTM Squeeze scan not working Questions 2

Similar threads

Not the exact question you're looking for?

Start a new thread and receive assistance from our community.

87k+ Posts
497 Online
Create Post

Similar threads

Similar threads

The Market Trading Game Changer

Join 2,500+ subscribers inside the useThinkScript VIP Membership Club
  • Exclusive indicators
  • Proven strategies & setups
  • Private Discord community
  • ‘Buy The Dip’ signal alerts
  • Exclusive members-only content
  • Add-ons and resources
  • 1 full year of unlimited support

Frequently Asked Questions

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?
VIP members get exclusive access to these proven and tested premium indicators: Buy the Dip, Advanced Market Moves 2.0, Take Profit, and Volatility Trading Range. In addition, VIP members get access to over 50 VIP-only custom indicators, add-ons, and strategies, private VIP-only forums, private Discord channel to discuss trades and strategies in real-time, customer support, trade alerts, and much more. Learn all about VIP membership here.
How can I access the premium indicators?
To access the premium indicators, which are plug and play ready, sign up for VIP membership here.
Back
Top