Scanning for Back-to-Back Signals
A few weeks ago I added a new type of scan which I've called "Back-to-Back". It enables you to find stocks which have made certain signals on up to 3 consecutive days. For example, you can scan for stocks which fell below their 50-day moving average on one day and climbed back above the 50 DMA on the next day.
To use it just chose the desired signals in order and the date of the first signal. Here are some ways to use this scan, off the top of my head:
- Back to back Inside Days
- Hammer followed by Bullish Engulfing
- Below Lower Bollinger Band followed by Stochastic Buy Signal
The possibilities are almost endless and this will give you many more ways to slice and dice the market. You can access the Back to Back Scanner via the main End-of-Day Scans page (Research Menu -> End-of-Day Scans)
How this Differs from the Combo Scan
In its simplest form, the Combo Scan allows you to find stocks which have triggered multiple signals on the same day.
It can also be used with a date range but it doesn't take into account the order in which the desired signals were made. All it does is check for the existence of all the desired signals with the date range. So those signals could all have occurred on the same day or in the reverse sequence that you wanted.
The Back-to-Back scan only finds stocks which have made the specified signals in the exact order they were specified. It can not be used to find multiple signals on the same day.
Recent Comments
- TRTCryptoCraig on Bad Quotes for 28 May...
- TraderMike on Bad Quotes for 28 May...
- TraderMike on Market Recap for Friday, May 31, 2024
- PleasantTurtle699 on Market Recap for Friday, May 31, 2024
- TraderMike on Market Recap for Friday, May 31, 2024
From the Blog
Featured Articles