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any suggestions on the proper code for AFAM scan on February 25, 2015 ?
Probably there are dozens of scans that could pick up this kind of price action, so there is no "proper" code, but lots of choices.
The problem with any of these choices is that none would predict the following unusual price action. AFAM is a get lucky situation, not a common occurrence.
Depending on the universe of stocks chosen (sp500, sp400, or price >20 and volume > 100000 or whatever) you might get 10 to 50 or 150 hits or more, because price action similar to Feb 25 is common, but the subsequent price action in AFAM is not.
All you can do is look for things that seem to increase the odds of a positive follow up. You would have to further examine each of the hits to determine which had the best chance of success.
To do that, you first need to find more examples of this kind of chart action, then compare the charts, looking at price and volume and pattern, and a variety of indicators and overlays to see what they have in common. There are no shortcuts.
thank you mark d.
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