1. New Addition: Stats on the Daily Scan Results

    I recently added some data which may be helpful in getting a feel for what scans are "trending".  I've started tracking the number of stocks which appear on each scan each day.  That's enabled the ability to show how much above or below normal a scan is on any given day.  You can find this data in two places.

    Read More ➞
  2. New Scans/Alerts: New CLOSING 52-Week Highs and Lows

    Over the last few weeks a few people have asked me if there is a way to differentiate new 52-week intraday highs from closing highs.  The "new highs & lows" scans I've had on the site for years were simply alerting to intraday extremes.  So I've decided to create a couple of new scans: 

    The original scans are still here but I've made these new signals/scans replace the old ones with regard to how the system treats them.  For example, I used to count a stock making a new 52-week intraday high as a bullish signal.  That always bothered me a bit because that same stock could have opened at a new high and sold off horrendously during the day.  In a situation like that, the site would still be showing that new high as bullish.  Well that won't happen anymore.  I've changed the new intraday highs & lows to be neutral signals and the new ones will count as bullish or bearish. Hopefully you'll find these new ones useful.

    Read More ➞
  3. Customizing Your Stock Screening

    I'm sharing an email exchange I had earlier today in hopes that it will help others to find ways to get exactly what they want when using the site to scan for stocks.  A friend sent me this:

    I was looking through your hammer scans on SwingTradeBot to see how Zillow stacked up on the grading curve. I was surprised Zillow (Z) only got a B. I looked at the A rated puppies and felt like Zillow (Z) should be higher rated. Then I realized what I really want is a modified hammer scan. I want hammers that come at the end of a period of selling, even better if it is an oversold hammer or a hammer coming off a high. The preceding selling has to be at least three straight down days. Did you already read my mind and create such a thing, or do I need to put a suggestion in the idea box? :)

    Here's my answer:

    Read More ➞
  4. Using the Bollinger Band Squeeze Scans

    This will cover how to make use of all the Bollinger Band Squeeze-related scans, including: 

    As you may be able to tell by the names, the last four scans are subsets of the first -- the plain old Bollinger Band Squeeze Scan.  So those other four scans will have shorter lists of stocks.  We'll see why you might want to use one of those scans instead of the primary BB Squeeze scan. 

    Read More ➞
  5. New Scans: MACD Crossovers!

    Recently I've had several people ask me about MACD scans.  Well I'm glad to announce that I've just added a few to alert/find MACD crossovers.  They are:

    Read More ➞
  6. Using the Down 3, 4 & 5 Days in a Row Scans

    These three scans: Down 3, 4, or 5 Days in a Row, are pretty straight-forward.  They do exactly what their names say -- find stocks which have closed lower multiple days in a row.

    I like to use these scans to find strong stocks which are in long or intermediate-term uptrends which are experiencing pullbacks.  I do that by sorting the results by Grade and then looking at those ranked highest -- A, B, or C.   As in the GIF below, after sorting, I'll use the hover/pop-up charts to get a quick veiw of the chart.  If it's one I want to explore further, I'll open it in a new browser tab and take a more detailed look after I've gotten through the entire list of scan results.

    hover over a ticker symbol to get a pop-up chart

    Combining with other scans

    As with most technical analysis signals, they can be enhanced by combining them with other signals/scans or eyeballing the chart for pullbacks to some kind of support (old resistance level turning to support, a trendline or a previous low). So I often look for a confluence of at least two indicators in my trading candidates:

    An issue that comes along in the world of pattern recognition is that one signal or trigger to a typical pattern may simply be noise and not an actual signal to an unfolding event. However, when signals begin to line up and you see multiple signals pointing to an outcome you can be more confident in an outcome. When multiple triggers begin to unfold, this is known as confluence and something that traders should look for, to have an edge before entering a trade.

    A quick way to find some confluence is to use the Combo Scan. SInce I prefer trading pullbacks, these "Down 3, 4 or 5 Days in a Row" scans are some of my favorites to combine with other scans.  Here are some ideas of other scans to combine them with:

    Read More ➞
  7. New Scan: Stocks Making a Cup-with-Handle Pattern

    I'm releasing another new scan / signal today.  This one finds stocks forming the handle portion of a cup-with-handle pattern.  If you're not familiar with the cup & handle, here's a quick overview:

    Read More ➞
  8. New Scans: Most Alerts, Most Bullish Alerts & Most Bearish Alerts

    By popular demand, I'm releasing three new scans today  They are:

    Read More ➞
  9. A Look Back at the Signals Which Launched EVR's 40+ Percent Rally...

    The other day I was flipping through charts on the top percentage gainers scan and noticed the run EVR has had over the last three months.  It's pretty much been straight up (more than 40%) since late October.

    Read More ➞
  10. New Scan: Stocks Making a Three-Weeks-Tight Pattern

    I just added a scan to find stocks making a 3-Weeks-Tight pattern.  This is a pattern that Investor's Business Daily / William O'Neil likes a lot.  As they describe it:

    Read More ➞