thinkorswim - Reversal Scan

This custom scanner will look for 3 consecutive red candles in a row along with an RSI below 20. It has not yet been tested during market hours, but that’s something I plan on doing tomorrow.

It will definitely need to be tweaked and possibly a “RateOfChange” study will need to be added. At the moment it is picking up two stocks at the close but they are not even down more than 2% in 15 minutes. It should only pick up stocks that are crashing hard and down more than 5% in a short amount of time.

Simple Reversal Scan

1
close is less than open and close from 1 bars ago is less than open from 1 bars ago and close from 2 bars ago is less than open from 2 bars ago and RSI("average type" = "SIMPLE")."RSI" is less than 20