High & Low Breaker Scanner

By December 5, 2016 Trading 3 Comments
High & Low Breaker Scanner

From our previous article, you must be already familiar with the functions and applications of ‘Circuit Breakers’ scanner, as well as how to utilize the scanner for picking out profitable trades. Now, let us take a look at our next scanner – ‘High & Low Breaker’.

The High & Low Breaker scanner is extremely useful for identifying stocks that crosses its high price or low price within a specified time period. The available time periods are 1 day, 1 week, 2 weeks, 1 month, and 52 weeks. The stocks listed in these scan results are also called as the outliners for that time period. The scanner results are displayed into two categories – High and Low as depicted below.

high_low_1

High & Low Breaker – High

The results displayed in the ‘High’ section of the High & Low Breaker Scanner lists out the stocks that had breached its high price within a specific time period.

high_low_2

Also Read : Spreads Scanner

The ‘High’ section is provided with a drop-down for various time periods and has the options for selecting 1 day, 1 week, 2 weeks, 1 month, 52 weeks, and All. The default value of the dropdown is ‘All. The figure above shows the High & Low Breaker – High category.

  • On selecting ‘1 day’ from the drop-down, it shows a list of stocks that had broken their high price during the day.
  • On selecting ‘1 week’ from the drop-down, it shows a list of stocks that had broken their high price during the week.
  • On selecting ‘2 weeks’ from the drop-down, it shows a list of stocks that had broken their high price during the previous 2 weeks.
  • On selecting ‘1 month’ from the drop-down, it shows a list of stocks that had broken their high price during the previous month.
  • On selecting ‘52 weeks’ from the drop-down, it shows a list of stocks that had broken their high price during the previous 52 weeks.

On selecting All from the drop-down, it shows a list of stocks that had broken their high price during the previous 52 weeks, 1 month, 2 weeks, 1 week, as well as 1 day. 
high_low_3

Note: Assume that a stock ‘XYZ’ had broken its high during the previous day, week, 2 weeks, 1 month, as well as 52 weeks. Then there would be five different entries listed for the stock, each with a different time period.

The results of the scan displayed consists of mainly three values – Volume, Indicator with Time, and Last Price with % change.

Example: In the figure, you can see that the stock TVTODAY has a volume of 398868 shares; Indicator of Day, 1 week, 2weeks, and 1 month; time as 15:29:23; last price of 339.6; and % change of 4.72 %.

You can see that there are four different entries corresponding to the four time periods (day, 1 week, 2 weeks, 1 month) for the stock TVTODAY.

High & Low Breaker – Low

The results displayed in the ‘Low’ section of the High & Low Breaker Scanner lists out the stocks that had breached its low price within a specific time period.

Similar to the ‘High’ section of the scanner, ‘Low’ section is also provided with a dropdown with the options 1 day, 1 week, 2 weeks, 1 month, 52 weeks, and All. The default value of the dropdown is ‘All.

The results of the scan displayed consists of mainly three values – Volume, Indicator with Time, and Last Price with % change.

Example: In the figure, you can see that the stock SPHEREGSL has a volume of 8862 shares; Indicator of Day; time as 12:33:55; last price of 68.25; and % change of -1.02 %.

high-and-low-new

How to interpret trend using High & Low Breaker scanner results

The result of High & Low Breaker scanner can be used for evaluating the general trend of the stock.

  • When the stock breaches new highs consistently – 1 day, 1 week, 1 month etc, a bullish trend is indicated.
  • When the stock breaches new lows consistently – 1 day, 1 week, 1 month etc, a bearish trend is indicated.

This can also be indicated as shown in table below

New Highs/ Lows across different time periods? Price Trend
New Highright

 

a Bullish
New Lowsright b Bearish

Steps to get the list of stocks of ‘High Low Breaker’ Scanner Criteria

Step #1: Login to Sine App and click on the dropdown icon from Dashboard page.

Step #2: From the drop-down menu displayed, click on ‘Analytics’

Step #3: From the Analytics page, click on ‘High Low Breaker’ scanner.

high_low_6

Step #4: The results of the scan would be displayed in two tabs – High and Low – as shown below

high_low_7

Also Read : Rise & Fall Scanner

Calculations: High & Low Breaker Scanner

High & Low Breaker scanner is used for identifying stocks that

  • Breach their high price within the specified time period or
  • Breach their low price within the specified time period

Following are the various steps and calculations performed in the backend for displaying the relevant results in the App’s scanner.

Step #1: First, the various time frames are segregated into 52 weeks, 1 month, 2 weeks, 1 week, and intraday ( i.e., 1 day).

Step #2: The high, as well as the low price of the stocks for the above timeframes, are captured based on the above time frames.

Step #3: The captured data is compared with the current market price of the stock.

Case (A): In case there is a positive % change of the price of stock, check is done to see if the stock

  • Crosses above the daily high (1 day)
  • Crosses above the high price of 1 week
  • Crosses above the high price of 2 weeks
  • Crosses above the high price of 1 month
  • Crosses above the high price of 52 weeks

Case (B): In case there is a negative % change of the price of stock, check is done to see if the stock

  • Crosses below the daily low (1 day)
  • Crosses below the high price of 1 week
  • Crosses below the high price of 2 weeks
  • Crosses below the high price of 1 month
  • Crosses below the high price of 52 weeks

Step #4: Display the list of stocks that have fulfilled the criteria of

  • Case (A) in the ‘High’ category of the High & Low Breaker Scanner results
  • Case (B) in the ‘Low’ category of the High & Low Breaker Scanner results

The results are displayed on both the ‘High’ tab as well as the ‘Low’ tab with the following details: Symbol, Volume, Indicator, Time, Last Price and %Change.

Functions that can be performed on the Scanner Results list

Various functions can be performed on the scanner results. For doing that, click on any of the stocks of the scan result.  Then the associated functions would be displayed below it. Following functions can be performed on each of the stock that is displayed as the scan result:

  • Add to Watchlist
  • Snap Quote
  • Place order
  • View Chart – includes indicators like Bollinger Bands. MACD, moving averages, RSI etc.

On clicking on each of those symbols, the corresponding function is executed. The figure below shows the various functions.

high_low_8

high_low_9

high_low_10

Conclusion

High & Low Breakers Scanner lists out stocks that breach its high or low price within a specified time period. This scanner can be used to identify the trend of the stock and thus pick profitable trades from the bullish or bearish trending stocks. It can also be used in conjunction with ‘Volume Shocker’ or Rise & Fall scanner to further reinforce the trend identified.

Subscribe now to get latest updates!

3 Comments

Leave a Reply