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Bullish pullback scans

I am trying to see how far using scanning could this be reached to filter out the maximum possible candidates for scanning. Can anyone advise to what extend could this be achieved in a scan?

1) Price above 200 and 100 Ema with series of hh and hl.
2) Retracement kissing or close to the top of kumo cloud AND providing a trigger in the form of large bullish candle for going long.
3) Stoch 83 crossover in OS zone.
4) If subsequent retracements, a hidden bullish divergence with price forming HL and Oscillator forming LL.

Comments

  • markdmarkd ✭✭✭
    edited August 31
    Scanning works best when you specify specific conditions and/or events on a specific date. So for instance, a close above 200 MA and MACD Line crosses MACD signal; if both of those events are true on the same day, the symbol will show up in the results.

    Scanning gets much more difficult when you want to find patterns in past data. You can use the max and min functions, and the "days ago" qualifier with various indicators and overlays to look at past data, but it's a chore. Often many of the results are unexpected or otherwise unsatisfying. That's because the scan engine requires you to be very specific about what you want, but price movements are highly variable.

    Another thing about patterns: often you will find many stocks behaving similarly, and that leads you to think they the pattern they seem to have in common is what "caused" the subsequent up leg or down leg you want to capture. But that pattern may be just an artifact of the current market - similar stocks reacting similarly to the same events. A pattern can be valid only if it repeats many times in many different stocks in many different markets over time - this year, last year, several years ago. Usually, a very complex pattern will not repeat itself. Even simple patterns will have many variations.

    That said, if you believe the series of events you have described is predictive, I would recommend that you write a scan for one or two events early in the sequence and put the results in a list. Then scan that list over time (tomorrow, the next day, the next day, etc.) with another scan for a subsequent event(s), and so on.
  • Thank you very much @markd. I will try to break the scans based on smaller chunks and filter on them on a daily basis. thank you very much.
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