[isatrader]

This scan looks for Spring type action / Undercut and Rally type behaviour and is most effective on the days when the market has pulled back towards a logical area of support, as on that day it will produce a large amount of results (100+), compared to typical day when it will only produce between 5 to 30 results. So when it produces a large sample of over 100 results it can often signify a swing low attempt, and so I create a chartlist from the results, and then begin monitoring them in the following days to see if they spring strongly higher or if they go through a testing period that then forms a higher low in the coming days / weeks. If however, the majority quickly start making lower lows below the low of the spring attempt day, then you know that it failed and wasn't a swing low, but just a pause / reaction in the downtrend.

Code:

[type = stock]
and [country = US]
and [exchange != PINK]
and [Daily SMA(200,Daily Volume) > 400000]
and [low < Lower Price Chan(50)]
and [close > Lower Price Chan(50)]
and [SMA(150) > yesterdays SMA(150)]
and [SMA(200) > yesterdays SMA(200)]
and [SMA(150) > SMA(200)]
and [group is not ETF]
and [Close > 5]