How to Use "Or" Scan Conditions

An "Or" Condition branch, is a condition that combines multiple inclusive criteria. The condition allows you to set up multiple criteria to find stocks that meet any of those conditions. With an "Or" condition, the results could even contain opposite conditions.  "Or" conditions can be used in Sorts, Scans, Reports, Alerts and even Order tickets--anywhere conditions are used. An "Or" condition can also be combined with other conditions. Below is a simple scan example of using an "Or" Condition looking for stocks that are either Overbought or Oversold (high or low in their recent range) based on Stochastics. These stocks also are moving up today on above average volume. This article will walk through the steps for creating this sample scan. (Stochastics is only an example, any indicators can be used in these Conditions.)

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1. Click the EasyScan menu button to begin building the scan.

Select New Condition to get a blank condition window

Click Add condition

Select Branch of "Or" from the menu

2. Build the "Or" Condition

  1. Click Add condition (+).
  2. Select Choose Condition
  1. In the type to search, type the word Stochastics.
  2. Select the Stochastics indicator from the menu.

In the Add Condition Menu:

  1. Select "Greater than" in the Condition field
  2. Type 80 in the Value Box for Stochastics.

As you are building conditions, you can click the Save button to add the criteria to your Condition library to use again later.

Repeat the process to build another branch in the OR condition by clicking Add condition. Then Choose Condition

  1. In the type to search, type the word Stochastics.
  2. Select the Stochastics indicator from the menu.

In the Add Condition Menu:

  1. Select "Less than" in the Condition field
  2. Type 20 in the Value Box for Stochastics.

This completes the "Or" condition. This is now looking for stocks that are Overbought OR Oversold based on Stochastics.

Click the Count icon to get an update of how many stocks are passing your conditions so far

Click on the Count to Refresh or hide the count.

OPTIONAL: Add any other conditions you like. (This example, price moving up and Volume above its 50-day SMA).

  1. Price moving up, Percent > .02
  2. Volume above Moving Average 50

Your Condition Set using the "OR" condition will reflect all conditions.

Click Apply To

3. Run the Scan to see the results

Select from the Apply To menu the way you want to apply the Flex condition

  1. Scan Results (Scan in a new window)
  2. Scan Plot (historical scan plot)
  3. Scan Plot Summary (summary of scan results over time)
  4. Sort Column (sortable column in new WatchList)
  5. Item in Layout (apply to chart or WatchList in current layout)
  6. Buy (place a stock or option buy conditional order based on the conditions)
  7. Sell (place a stock or option sell conditional order based on the conditions)
  8. Copy to Clipboard (copy conditions to computer clipboard for reuse)

In this example, select Scan Results.

A WatchList is created containing the Scan results. These will be stocks which reflect the Or conditions along with the other conditions.

Some of the stocks in the results list will show an Overbought Stochastic and price moving up on volume. Others will show an Oversold Stochastic but price still moving up on volume.

 

Name and save the Condition Set to add it to your Condition library to use later.

Note: the condition criteria in this article are only examples. Any indicators, fundamentals, PCFs, etc., within TC2000 can be used in Flex Conditions. 

The conditions and results of the Scan example should not be construed as a recommendation to buy or sell any security. They are presented solely for educational purposes.