Developed by Jake Berstein, modified by David Steckler and tweaked at StockCharts, here is a scan that uses the Stochastic Oscillator to idenfity price pops and price drops. The bullish Stochastic Pop looks for stocks with a long-term Stochastic Oscillator above 50, an ADX value below 20 and a short-term Stochastic Oscillator surge above 80.
Bullish Stochastic Pop:
[type = stock]
and [today's sma(20,volume) > 40000]
and [today's sma(60,close) > 20]
and [Slow Stoch %K (70,3) > 50]
and [ADX Line (14) < 20]
and [today's Slow Stoch %K (14,3) x 80]
The bearish Stochastic Pop looks for stocks with a long-term Stochastic Oscillator below 50, an ADX value below 20 and a short-term Stochastic Oscillator plunge below 20.
Bearish Stochastic Drop:
[type = stock]
and [today's sma(20,volume) > 40000]
and [today's sma(60,close) > 20]
and [Slow Stoch %K (70,3) < 50]
and [ADX Line (14) < 20]
and [20 x today's Slow Stoch %K (14,3)]
Extra! users can copy this scan code and paste it in the Advance Scan Workbench. There is also a ChartSchool article with detailed examples.
