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Scan for 20 day low (Different)

How can I scan for a stock that has 20 days of lower lows with each low lower than the previous low. These lows do not have to be consecutive ! Need to keep a running count from the entry point. If a new high occurs compared to the entry high, then the low count starts over again. Is this possible with the scan network?



  • I don't think you can do this with the scan engine.

    You can define a fixed pattern of lows, or several fixed patterns connected in an "or" statement. But you cannot look back at an undefined period of time and count the lower lows until you find 20 of them. This would require a loop structure and a variable to hold the count, both of which are unavailable in the scan engine.
  • OK Thanks for the response
  • Maybe take a short term Price Channel like a 3 or 5 day, and scan for the daily High being below the mid point of the price channel? You need to have something that is moving close to the price.

    I have no idea what you mean by "entry high" but if looking to find a 20 days of lower lows, the Price Channel option seems to be a possible solution.
  • It sounds like a Tom DeMark pattern, some of which may be scannable, but I don't think this is one of them. Any of them would be VERY complex to write. They are kind of fun, but kind of intense because they are so detailed, and I'm not sure (because I haven't looked into it) how reliable they really are. But I think if you want to try them out, you have to select just a few symbols and then look for the patterns in those charts. Some trading platforms have pattern matching capabilities ("studies") built in if you want to look into that.
  • This is from the ChartSchool. Probably could modify it with additional clauses and reversed for down.

    Tom DeMark's "Sequential" Entry Scan

    Stocks with 9 consecutive days with the close greater than the close 4 days earlier.

    # Thomas DeMark's "Sequential" Buy Setup
    # from "The New Science of Technical Analysis" p.140-145

    [type = stock]
    and [today's close > 4 days ago close]
    and [1 days ago close > 5 days ago close]
    and [2 days ago close > 6 days ago close]
    and [3 days ago close > 7 days ago close]
    and [4 days ago close > 8 days ago close]
    and [5 days ago close > 9 days ago close]
    and [6 days ago close > 10 days ago close]
    and [7 days ago close > 11 days ago close]
    and [8 days ago close > 12 days ago close]
    and [9 days ago close >= 13 days ago close]

    //Uncomment the following line to find _new_ signals.
    // and [10 days ago close < 14 days ago close]
  • I think that's really a sell set up - I don't think you'd buy after prices have been rising for 9 nine days.
  • It's taken directly from the StockCharts Published Scans page list. Reviewing against other sites comments on The Sequential Indicator, I think perhaps you are correct but it's a confusing process for sure. Actually there appears to be a part 2 to review for the actions. This scan code is the "setup". Then you have the Countdown phase. Running the actual scan, it doesn't appear that the results are wildly bullish stocks. About a third of them have a SCTR > 70.
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