How To Use "And" Scan Conditions

An "And" Condition branch, 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 have previously functioned.)  "And" conditions can be used in Sorts, Scans, Reports, Alerts and even Order tickets--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 or 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 Branch of "And" from the menu

2. Build the "And" Condition

  1. Click Add condition (+).
  2. Select Choose Condition
  1. In the type to search, type the word Price
  2. 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 branch in the AND condition by clicking Add condition. Then Choose Condition

  1. In the type to search, type the word Volume
  2. 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

This completes the "And" condition. This is now looking for stocks that are moving up 3 bars in a row in both price AND volume.

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, we will use an OR condition in combination with the AND condition).

  1. Click Add condition (+).
  2. Select Branch of "Or"

 

  1. Click Add condition (+)
  2. Select Choose Condition
  1. In the type to search, type the word Moving Average
  2. Select Moving Average - Simple
  1. Click on Moving Average 50 and change to 20 period
  2. In the Indicator field, choose Price History
  3. Condition: Above Moving Average 20

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

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

Set up the Above Average Volume Condition

  1. Click on the add field button next to Volume
  2. Select Moving Average - Simple
  3. In the condition field choose Above Moving Average 50

This completes the "Or" condition. This is now looking for stocks that are moving up 3 bars in a row in both price AND volume. At the same time, these stocks are either above their 20-bar SMA OR have above average volume.

Your Condition Set using the "AND" 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 condition set

  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 AND conditions along with the other 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.