Where the daily open and close cover at least 60% of the daily range up or down and the daily range is greater than the 14 day average true range.
1) open is in the bottom 20% of the daily range, 2) close in the top 20% and 3) the daily range is greater than the 14 day average true range.
Scan criteria:
1) Open is in the top 20% of the daily range, 2) close in the bottom 20% and 3) the daily range is greater than the 14 day average true range.
Scan criteria:
Popular day trading strategy because its deemed to have a high probability of a follow through in the same direction at the open of the next session. However, watch out for a possible midday reversal.
See also:-
LSE Short-term pattern scans:-
LSE Medium-term pattern scans:-
LSE Medium-term trend pivot point scans:-
LSE Medium-term trend change scans:-
NB. Our scans are inspired by eminent traders and speculators of the present and past!