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#SCANNERS (A Thread)- People often ask me how I find the best setups in an universe of 1000's of stocks. It's where I rely on @TrendSpider's insanely sophisticated "no code" Market Scanner. I'll share below my scanners, although some remain a work in process.
#HOLYGRAIL: based on Linda Raschke's method. It looks for strong and established uptrends, with a retracement on declining volume, and a bounce back through the 20 EMA. I look to sell Credit Put Spreads against the bottom of the retracement. @TrendSpider http://charts.trendspider.com/shared/5fae8afc17b594001546fd97?t=1
#100DAYBREAKOUT: A fairly simple scan that looks for trend alignment, and then a breakout that evolved, coupled with increasing momentum (ADX) and volume rush (Vol RoC). Can be used to buy calls or sell Credit Put Spreads against.
@TrendSpider http://charts.trendspider.com/shared/5fae8cdd17b594001546fd98?t=1
@TrendSpider http://charts.trendspider.com/shared/5fae8cdd17b594001546fd98?t=1
#20DAYBREAKOUT: Very similar in approach to the 100 day breakout one. I look for evolved breakouts, but then in a shorter range of 20 days, to either buy calls or sell Credit Put Spreads against. @TrendSpider http://charts.trendspider.com/shared/5fae8d7e17b594001546fd99?t=1
#BOLLINGERBREAKOUT: Also looks for evolved breakouts, but as they fall outside the Bollinger these tend to be bigger moves. Unless it consolidates, may be too late to buy calls, but will provide more safety net for Credit Put Spreads. @TrendSpider http://charts.trendspider.com/shared/5fae8eac17b594001546fd9a?t=1
#VWAPCONSOLIDATION: Unlike the breakout ones where it has evolved, trying to catch a breakout before it occurs. Looks for grinding stocks that are stuck in a VWAP pinch, with low volume and volatility moves. Needs a bit more work I feel. @TrendSpider http://charts.trendspider.com/shared/5fae8f0917b594001546fd9b?t=1
#10/30REVERSAL: seeks to catch a reversal after it occurred and has confirmed, by primarily looking for a 10/30 EMA cross. Buy calls or sell Credit Put Spreads against these. @TrendSpider http://charts.trendspider.com/shared/5fae8f7717b594001546fd9c?t=1
#312UPREVERSAL: uses #thestrat 312up reversal, but catches them often quicker than the 10/30 EMA cross. However, often comes up empty. Are there more #thestrat reversal patterns I should build in as an "OR"? @TrendSpider @RobInTheBlack @ssabatino84 http://charts.trendspider.com/shared/5fae901a17b594001546fd9d?t=1
#INSIDEBAR: A super simple one that scans my Power Earnings Gap watch list on a daily basis to look for inside bars as per #thestrat. These are choppy, but often pre-run a continuation pattern and thus may be attractive entry points. @TrendSpider http://charts.trendspider.com/shared/5fae915117b594001546fd9e?t=2
#OUTSIDEBAR: looks for a Bullish Outside Bar as per #thestrat, which like an inside bar may be an attractive entry point. Ran daily on my Power Earnings Gap watchlist. @TrendSpider http://charts.trendspider.com/shared/5fae91d917b594001546fd9f?t=1
#BALLOONRAINDROP: using @TrendSpider proprietary raindrop candles it looks for a balloon 65min candle where most of the volume was in the upper half of both sides of the candle. Can signify a major breakout, but are quite rare. @TrendSpider http://charts.trendspider.com/shared/5fae937817b594001546fda1?t=1
