Finding and Trading The T-Line Bounce

In tonight’s e-Learning 8-22-2017 we will discuss the current state of the market, charts and Rick will share a  scan that are tending with a run of 10% and near the T-Line. The recipe for a winning trade is to follow your plan and the best tools for you. We feel a few of the best tools are: Price Action, Candlesticks, Support and Resistance, Trend Lines, Chart Patterns.

Thank you, Ed Carter

For taking an idea and making it work. Ed created the scan for TC2000 and TOS that I have been using to narrow my search and look for a specific chart pattern. Sorry, it’s not the Golden Goose, you still have to do the work.

►T-Line Bounce / TC2000 

This scan looks for a stock that has been trending for at least a month. In

that time it will have run up at least 10%.  On top of these conditions, it

finds stocks that have bounced up off the T-line in the last 4 days.

Bullish
——————————————————————————-
TC2000

(((C3 – C25) / C25) > .10) and
C > XAVGC8 and
( ((L – XAVGC8) * .06) or
((L1 – XAVGC8) * .06) or
((L2 – XAVGC8) * .06) or
((L3 – XAVGC8) * .06) )

——————————————————————————-
TOS

# Bouncing Off T-line
# Written by Rick Saddler
# Converted to TOS by Ed Carter
#
def C = close;
def L = low;
def XAVGC8 = ExpAverage(close, 8);
#
plot TlineBounce = (
(((C[3] – C[25]) / C[25]) > .10) and
( ((L – XAVGC8) * .06) or
((L[1] – XAVGC8) * .06) or
((L[2] – XAVGC8) * .06) or
((L[3] – XAVGC8) * .06) ) and
C > XAVGC8
);

Bearish
——————————————————————————-
TC2000

(((C25 – C3) / C3) > .10) and
C < XAVGC8 and
((H  – XAVGC8) * .06) or
((H1 – XAVGC8) * .06) or
((H2 – XAVGC8) * .06) or
((H3 – XAVGC8) * .06)

——————————————————————————-
TOS

# Bouncing Off T-line Bearish
# Written by Rick Saddler
# Converted to TOS by Ed Carter
#
def C = close;
def H = high;
def XAVGC8 = ExpAverage(close, 8);
#
plot TlineBounce = (
((((C[25] – C[3]) / C[3]) > .10) and
C < XAVGC8 and
((H  – XAVGC8) * .06) or
((H[1] – XAVGC8) * .06) or
((H[2]- XAVGC8) * .06) or
((H[3] – XAVGC8) * .06)
);

Are you having trouble putting together a winning trade? Not sure what scans to use? So near to having multiple winning trades, but something always goes wrong. Maybe a couple hours with a trading coach could make all the difference in the world. Hit and Run Candlesticks has 4 trading coaches – Learn More about the Coaches

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