Title:

REVERSE
LONG
(Track2)

We use this scan to search for stock that has been in an downtrend but suggesting a change in the direction of the trend.
With this scan we try to detect stocks for potential long reversal trades.

Code:

MAV20 >=500000 AND

we stay away from stocks that trade less than 500,000 shares of the 20-day Volume Average to ensure liquidity (sometimes we use 250,000 instead, depending on market conditions)

CLOSE>12 AND

to be sure we do not trade cheap stocks (sometimes we use 7$ instead, depending on market conditions)

HIGH2 > HIGH1 AND
HIGH1 > HIGH AND
LOW2 > LOW1 AND
LOW1 > LOW

for at least the last 3 trading days, you see lower highs and lower lows

CLOSE2 <= OPEN2 AND CLOSE1 <= OPEN1 AND

for at least the last 3 trading days, the closing price each day is below or equal to the opening price

CLOSE >= OPEN AND VOLUME>1.5* MAV20

to be sure that the buyers are in control the last trading day and you would like to see higher than average volume: suggesting a REVERSAL

Type(s):

reversal

long

Title:

REVERSE
SHORT
(Track2)

We use this scan to search for stock that has been in an uptrend but suggesting a change in the direction of the trend.
With this scan we try to detect stocks for potential short reversal trades.

Code:

MAV20 >=500000 AND

we stay away from stocks that trade less than 500,000 shares of the 20-day Volume Average to ensure liquidity (sometimes we use 250,000 instead, depending on market conditions)

CLOSE>12 AND

to be sure we do not trade cheap stocks (sometimes we use 7$ instead, depending on market conditions)

HIGH2 < HIGH1 AND
HIGH1 < HIGH AND
LOW2 < LOW1 AND
LOW1 < LOW

for at least the last 3 trading days, you see higher highs and higher lows

CLOSE2 >= OPEN2 AND CLOSE1 >= OPEN1 AND

for at least the last 3 trading days, the closing price each day is above or equal to the opening price

CLOSE <= OPEN AND VOLUME>1.5* MAV20

to be sure that the sellers are in control the last trading day and you would like to see higher than average volume: suggesting a REVERSAL

Type(s):

reversal

short