50 Day Bouncers

LiveForCharts

Does anyone have a scan for stocks that bounce off of the 50 day moving average? Thank You

markd

Do you have a chart that shows what you mean by "bounce off"?

Unfortunately, the scan engine requires very specific conditions to recognize a pattern.

First, you probably want the average to be rising, or not?

Then, there are lots of ways to bounce off the average:

Just the low goes under it, not the close, then closes up next day

It closes below for one day, then closes above it next day

It closes under it for several days, then closes above it, then closes below it again, then above it again,

etc.

or, you could do something like, ten days ago it was above it, 5 days ago it was below it, and today it's above it again

So you just have to be as specific as possible about everything that makes a difference to the result you want. If you are really specific, you might find that you can write at least some of it. If so, post it and we'll tweak it.

LiveForCharts

I will have some to post this afternoon, thank you for your quick response I appreciate it

Kevo

I never thought of running a scan like this. It is interesting to look at.

@markd the scan below covers the first 2 cases you mention. The third case is too much.

Here is my initial scan:

and [today's Daily Close > today's Daily SMA(50, Daily Close)] and [yesterday's Daily Close > yesterday's Daily SMA(50, Daily Close)]

and [[[2 days ago Daily Low <= 2 days ago Daily SMA(50, Daily Close)] and [2 days ago Daily Close > 2 days ago Daily SMA(50, Daily Close)]] or [2 days ago Daily Close < 2 days ago Daily SMA(50, Daily Close)]]

and [3 days ago Daily Min(5, Daily Low) > 3 days ago Daily Max(5, Daily SMA(50, Daily Close))]

markd

Another way might be to check for a short term ma, like maybe sma(3,close), crossing above (x) the rising 50 ma. That way, you don't have to be specific about the pattern of closes.

But if the pattern matters, you wouldn't use that approach.

You could also check for the "bounce" by looking for range greater than the atr(?), and volume above maybe the 21 day average and a close near the top. That would show some strength.

On the other hand, the strength might have occurred under the 50ma, or it is yet to occur after crossing the 50 ma, so by adding that condition you might lose some good set ups. Always a trade off.

LiveForCharts

I tried to copy and paste on then run, but every time I check syntax it gives me something different as to why it doesn't like it, Starts with the brackets, then says something about 50 daily being enclosed. I'm trying to figure this one out. really appreciate all of the help from you guys, thank you..

markd

Maybe you could find some similar pre-defined scans on the site and tweak those. Try something very simple first, like just the low below the 50 -

and [sma(50, close) x low]

The scanning tutorials and videos are really helpful, although it takes some time.

Kevo

I left out the global filters. Copy this line below and place it at the very top, first line. Then copy the scan above below this line:

[type = stock] and [Country = US] and [Daily SMA(20,Daily Volume) > 60000] and [Daily SMA(20, Daily Close) > 15] and [Daily Close < 140.00]


Try paper trading this scan and see how it goes.

@markd did not think of checking for range greater than ATR. I thought this only meant volatility.