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:

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.

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Magneto296 about 1 year ago

Impressive, early days for me. 

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TraderMike about 1 year ago

Thanks, I'm glad you're liking it!

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Magneto296 about 1 year ago

I was looking at the back to back signals , and notice there is no RSI(14), which is a pity , because my own research has revealed that when the RSI(14), crosses above 50, more often than not this coincides with the small downtrend break upwards. I am of course referring to an uptrending share,which has undertaken a normal retracement. 

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TraderMike about 1 year ago

are you saying that you'd like to do a scan for 

  • day 1 - stock's RSI is under 50
  • day 2 - stock's RSI is above 50
If so, I could probably do a stand-alone scan for that where you'd just enter the value (50) and whether you're looking for a cross above or below.

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Magneto296 about 1 year ago

I was looking on the site for the RSI(14) cross 50, that you suggested a stand-alone scan. Not finding the RSI(14) x 50, scan, I was not sure whether this has been overlooked, or whether those changes are scheduled on a weekly or monthly basis. Sorry to trouble you, since I am sure the website keeps you busy. 

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TraderMike about 1 year ago

I should be getting to it early next week, assuming the other things I have scheduled ahead of it go smoothly.  I'll let you know once it's finished.  It will be listed on the Relative Strength Stock Scans page.

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Magneto296 12 months ago

The website is focused on daily signals, with no option to change the scan to a higher time frame such as weekly. Such an option would seem to be a winner, in terms of the additional flexibility, virtually doubling the scan results, with inclusion of the higher time frame.

If you have good news regarding the inclusion of cross rsi(14), 50 , it would appreciated.

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TraderMike 12 months ago

The RSI cross scan is here . I'm still testing & tweaking it but it seems to be working well.

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Magneto296 about 1 year ago

I was looking at a Heiken Ashi chart of an all time high chart , on tradingview.com, (Astrazeneca), when I thought the "back to back scan would be perfect to scan for (1) the bear, HA, candle(complete shadow on bottom), with say the (3) bull, HA, candle(complete shadow on the top). There is usually a neutral HA, candle in the middle (2) (shadow on both top and bottom). Let me know if you would consider including the Heiken Ashi candle scan in "back to back". 
A bear scan would be the reverse of the bull scan. 

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TraderMike almost 1 year ago

No plans at this time to add Heiken Ashi charts into the mix.  But I've taken note of your request.  You're the first person to have asked for those & I generally only add something once several people have made the same request.

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Magneto296 about 1 year ago

Yes, that would be fine. The cross function does not seem to be widely available on websites. The best I could do on another site was to define rsi(14), as between 51 and 59, and hope the scan would catch a 50 cross. Having said that results would usually be bullish , since the 50 level is generally meant to define the barrier between bearish and bullish. 

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