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Need Help with this Scan

If you guys look at the daily and weekly ATW chart I posted, the Doji that was created on both charted mid September is the scan I am trying to build. Basically a stock that has been trending down and is at its 90 day low point and creates a morning doji.

This is what I have so far but I feel like it is not working correctly, am I doing something wrong here?


[type = stock] AND [Daily SMA(20,Daily Volume) > 40000]
and [close > 5]
and [close - open <= .03 ]
and [open - close <= .03]
and [Daily Low < Yesterday's Daily MIN(90,Daily Low)]
and [exchange is not LSE]
and [exchange is not TSE]
and [name not contains "Trust"]
and [name not contains "Notes Due"]
and [name not contains "Shares"]
and [name not contains "Fund"]
and [name not contains "bank"]

Comments

  • markdmarkd ✭✭✭
    To test for the candle, you would scan for:

    A lower low:

    and [low < 1 day ago low]

    Or, you could try:

    and [low = min(5, low)]

    Then you want open and close near the top of the candle:

    and [open > low + [range * .8]] // open is in upper 20 % of range

    and [close > low + [range * .8]] // close is also in upper 20 % of range

    Then you want to place the candle after a decline. A falling short term MA should give you that - so maybe:

    and [sma(10, close) < 5 days ago sma(10, close)] // 10 MA is falling

    Then, if you want to specify a higher time frame direction, you could test for a falling longer MA, like

    and [sma(50, close) < 10 days ago sma(50, close)] // 50 MA is falling

    You can adjust any of the parameters (.8, 5, 10, 50) to see what works best.
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