How To Use "And" Scan Conditions

An "And" Condition, is a condition that combines multiple exclusive criteria. The condition allows you to set up multiple criteria to find stocks that meet all of those conditions simultaneously. (The "And" approach is the normal way TC2000 scans function.)  "And" conditions can be used in Sorts, Scans, Data Grids, Alerts--anywhere conditions are used. An "And" condition can also be combined with other conditions (including "Or" branches or "Flex" branches). Below is a simple scan example of using an "And" Condition looking for stocks that are moving up three bars in a row on increasing volume. These stocks also are above their 20-bar SMA and have above average volume today. This article will walk through the steps for creating this sample scan. (Price and Volume are only examples, 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 Choose Condition from the menu

2. Build the "And" Conditions

In the type to search, type the word Price. Select Price.

In the Condition Menu:

  1. Select "Moving Up" in the Condition field
  2. Choose Net Change in the Move Type field
  3. Set the Net Change to >0
  4. Move Period is 1
  5. Choose X bars in Row from the True Field
  6. Set Bars in Row to 3

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 AND condition by clicking Add condition. Then Choose Condition.

In the type to search, type the word Volume. Select Volume.

In the Condition Menu:

  1. Select "Moving Up" in the Condition field
  2. Choose Net Change in the Move Type field
  3. Set the Net Change to >0
  4. Move Period is 1
  5. Choose X bars in Row from the True Field
  6. Set Bars in Row to 3

Now you have a price and volume conditions connected with AND.

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.

In this example we add Price Greater than $3 and Volume above 50-bar SMA. All conditions are connected with AND, meaning all of the criteria have to be true simultaneously for a stock to be returned in the results list.

2.1. Run the Scan to see the results

Click Copy to...and choose how you want to apply the conditions.

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

  1. Window in Current Layout (opens target mode with option to choose any window)
  2. New Filtered WatchList (Opens new window with default WatchList and sorts by condition set)
  3. New Market Gauge (summary of scan results over time)
  4. New Market Indicator (historical scan plot)
  5. New True/False Column in WatchList (sortable T/F column in current active WatchList)
  6. New Data Grid (creates new Data Grid with the condition set as an entry)
  7. Clipboard (copy conditions to computer clipboard for reuse)

In this example, select New FIltered WatchList. A WatchList is created containing the filter results. These will be stocks which reflect all the AND conditions.

Stocks in the list will have moved up 3 bars in a row in price AND volume, plus they will be either above the 20 bar moving average or have above average 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.