80:20 Candle Days - Short-term Patterns - LSE EOD Scan

Up Close

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.

FTSE100 stocks for 26 Sep 2023

Other LSE stocks for 26 Sep 2023

Scan criteria:

close in top 20% of daily range
open in bottom 20% of daily range
daily range > 14 day average true range
volume greater than 20 day average volume
20 day average volume over 300,000
last closing price > 0.39 GBP

Down Close

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.

FTSE100 stocks for 26 Sep 2023

Other LSE stocks for 26 Sep 2023

Scan criteria:

open in top 20% of daily range
close in bottom 20% of daily range
daily range > 14 day average true range
volume greater than 20 day average volume
20 day average volume over 300,000
last closing price > 0.39 GBP

Notes

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:-

new 20 day highs
new 20 day lows
ADX over 30 - positive bias - contraction of price (+DI14 > -DI14)
ADX over 30 - positive bias - lowering tops inside day (+DI14 > -DI14)
ADX over 30 - negative bias - contraction of price (-DI14 > +DI14)
ADX over 30 - negative bias - increasing tops inside day (-DI14 > +DI14)
Toby Crabel 20 day narrow ranges
Four day sequences

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!

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