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TC2000 Gap Down Recovery Scan

$50.00 $39.00

TC2000 Gap Down Recovery Scan is designed to identify short-term overreactions in stocks that gapped down below previous lows but managed to close the session strong near highs.

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Description

The TC2000 gap down recovery scan is a great way to take advantage of near-term weakness in a stock that has been trading in a long term uptrend.

How Does It Work

This scan looks for stocks that have been trending higher in a long term uptrend and then saw a sudden gap down below the previous day’s lows followed by an intraday reversal and strong finish on the day.

The scan will return small gap downs starting at just 1% below the previous day’s lows as well as large gap downs that could be caused by earnings or some other market catalyst.

What’s important however is that the stock’s intraday selling pressure is reversed, signaling the move to the downside may have been initially overstated. This setup lends itself well to a gap fill target (if it did not fill on day 1) and well-defined placement for stop losses (the bar lows).

The gap down recovery scan is designed for daily time-frames.

Features

  • Purchase includes exact PCF code and setup instructions.
  • Purchase includes additional recommended scan criteria:
    • Minimum daily volume.
    • Modifications to the trend filter.
  • Can be used on all versions of TC2000.
  • Can be combined with other criteria to improve accuracy.

Any questions? Contact us.

BUNDLE OFFER

For just $10 more you can get 2 scans, this Gap Down Recovery Scan and its bear version equivalent when you purchase the Bull Bear Gap Bundle package.

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