Need Help with this Scan

taz43

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"]

markd

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.