TC2000 Breakdown Failure Scan

Description

The TC2000 breakdown failure scan is a great way to find stocks that have recently broken to new lows, failed to hold those lows, and are now reversing higher.

How does it work

This scan looks for stocks that made fresh new lows on the day but then went on to recover those losses and rally back to positive on the session. Hammers, engulfing bars, outside reversal days, these are the types of candlestick patterns you will get with this scan.

The scan also includes a filter to make sure the stock is already in an established uptrend for added confidence in this short-term reversal signal. This is a bullish scan that is designed for the daily time-frame but it could be used on any interval.

Features

• Purchase includes exact PCF code and setup instructions.
• Purchase includes additional recommended scan criteria:
  • Minimum daily volume.
  • Bullish trend filter.
• Can be used on all versions of TC2000.
• Can be combined with other criteria to improve accuracy.
• Stack the odds in your favor by using this scan against our weekly curated TR150 watchlist.

Bundle offer

Get a discount when you purchase this Breakdown Failure Scan and its bear version equivalent in the Breakout Failure Scans Bundle package.

Any questions? Contact us.