This scan looks for stocks that have recently fallen below the 50 day simple moving average. The idea behind this scan is to search for stocks that have recently dropped in price, but are still strong enough to make another run back to the 50 MA.
The filter is as followed.
close below ma(50)
and ma(50) increasing for the last 10 days
price between 2.00 and 25.00
Volume greater than 100000
The first line of code looks for stocks that have recently fallen below their 50 MA. The second line of code stipulates that the 50 MA trend line be in an uptrend. When the 50 day Moving Average is going up, that could be a bullish signal. This is a great scan to find stocks before they ramp back up or break down in price.
Credit – Source @Tackleberry5