Filled Black Candles

johandekock

Hi,

1) Eventually I want to scan for filled black candles at the bottom of the range, but I'm so far getting 129 results, mostly red candles, with my scan.

I first wrote it without the [filled black candle is true] and then found that, so added it but it still doesn't work.

[type = stock]
and [[Country is Canada] or [Country is US]]
and [Daily sma(100,Daily Volume)>250000]
and [[close > 1.00] and [close < 35.00]]

# Find only charts with black candles on them
and [close > 1 day ago close]
and [close < open]
and [Filled Black Candle is true]

2) When I scan for [low < yesterday's low] it also brings up a mix bag of results (like ACRX when I run that scan now) - this is to find the black filled candles at the bottom of the range.

I hope someone can help!
Thank you
Johan

markd

Running the scan as is, after market close, I got 132 hits. I found none with red candles, so I think the scan is fine.

Removing the line for filled black candle, I got 160 hits. Again, none with red candles. Apparently the filled black candle has some more restrictive conditions that get fewer hits.

Adding in the test for the low (without filled candle test) I got 48 hits, all OK.

I'm not sure what you mean by "bottom of the range", but I'll assume you mean following several down bars. For that, you could test for

and [low = min(7, low)]

or whatever number of lows suits you. Or your could test for a falling very short term MA, like

and [sma(7,close) < 7 days ago sma(7,close)]

That would not require the lower low be the lowest, but it might still get worthwhile hits.

johandekock

Hi @markd,

Thank you very much for your reply.

I ran the scan just now again and stil got red candles, so I realized there must be something wrong on my side. I went through everything and eventually got to the part "Starting X trading days before the X show me the symbols that meet the following criteria. I had 5 for the days and "Last market close June 30". When I changed the 5 to 0 I got your 132 hits all filled black candles.

This is puzzling as it continues to say "Or choose from X" where is X is my scan.

So, even though I chose my scan the scanner still uses the values in the first part. Maybe some note to this effect would be helpful or maybe the platform can change it automatically if one selects one's own scan?

Thank you for the suggestions on the Low scan....I appreciate it very much!
Johan

markd

Yes, you have to watch that. If you modify the scan and save it while your are developing it, you also save the date offset if you are using one. So let's say you write a scan for the current date (offset 0), you like it and save it. Now you run it for different dates in the past, say offsets 3, 4, 5. You notice results you don't want to get, so you modify the scan to get rid of them and save it. When you re-save it, you have also saved the offset date you last used (5), unless you remember to change it back to "0" before you re-save it.

johandekock

Thank you @markd! I appreciate the heads up!