Inside Day Scan

daniel_fromcebu

[type = stock] AND [Daily SMA(20,Daily Volume) > 40000]
and [todays Range yesterday's low]
and [ATR(14) > 1.5]

markd

Hi @daniel_fromcebu , I noticed this old question hanging out in the "Unanswered" category. You've probably figured it out by now, but for others who might be new to scanning:

To scan for an "inside" day, where the the current bar's high is below the preceding bar's high, and the current low is above the preceding low:

// find inside bar
and [high < 1 day ago high]
and [low > 1 day ago low]

It's true the range is always less, but a bar can have smaller range than the preceding bar, but have the high or low (or both!) outside the range of the preceding bar.

Also to the newbies:

the line that begins "//" does not execute - the scan engine ignores everything on a line that begins with "//" or "#". Those lines can be comments, or they can be scan code that you want to switch on and off (for testing and debugging, or when you have multiple scans that are mostly alike, except for one or two lines).

It's always a good idea to comment your scans by writing in natural language what you want each scan line, or group of scan lines, to do.

It's really helpful to organize your thinking if you write your all your scan steps in plain english first, then write the scan lines to accomplish each step.

Commenting also reminds you what an old scan was supposed to do.

It's also a good idea, when you write a new scan, to update your chart style (or create a new style and name it with same name as the scan) with the indicators that your scan will use, so you can verify the results are in fact what you think you are asking for.