TC2000 Bullish Pin Bar Reversal Scan

Description

The TC2000 pin bar reversal scan combines the power of the pin bar candlestick with the importance and weight of the most highly watched major moving averages.

How does it work

This scan looks for a couple of things. First and most important are perfectly formed pin bars. Pin bars are a long term favorite of traders looking for early signs of buyers regaining control of a stock or ETF.

The problem with most pin bar trades is that they occur at random meaningless locations. So instead of looking at any old pin bar, we only want to see pin bars that pierce below key moving averages like the 50-day moving average and 200-day moving average but then finish the day back above them.

Lastly, we require that those moving averages be rising and in alignment (50SMA > 200SMA) indicating an overall uptrend in the underlying stock or ETF.

Putting it all together, the scan will return to you stocks printing pin bars piercing below a rising 50SMA or 200SMA.

Features

• Purchase includes exact PCF code and setup instructions.
• Purchase includes additional recommended scan criteria:
  • Minimum average daily volume.
• 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 Bull Pin Bar Reversal Scan and its bear version equivalent in the Pin Bar Bundle package.

Any questions? Contact us.