NR7 Scan: Code Update and Watchlist for 4-26-07

This post was contributed by a guest author, and does not necessarily reflect the views of Richard or MovetheMarkets.com

Jamie gave me a suggestion last night that I should focus on stocks that gap on high volume and then over the next few days print an NR7. I modified my Stockfetcher code to look for recent high volume movers that print an NR7:

/*NR7 Scan By Jamie and Prospectus
http://traderjamie.blogspot.com/
http://www.movethemarkets.com/blog/

Filter out OTC and low volume stocks
----------------------------------------------*/
Show stocks where market is not OTCBB
and close is between 1.00 and 100
and average volume(30) is greater than 300000
and volume is greater than 100000

/*NR7 Price and Volume contraction scan
----------------------------------------------*/
and average day point range(1) reached a new 7 day low
and volume is more than 30% below volume 1 day ago
and average volume(2) is below average volume(4)

/*Find recent huge volume movers from the NR7 results
---------------------------------------------------------------*/
and average volume(10) is more than 50% above average volume(30)
and close changed more than 4% over the last 2 weeks

/*Change date offset to get results from the past
---------------------------------------------------------*/
and date offset is 0

/*Lines below are just for chart formatting.
Change according to your preferences!
-----------------------------------------------------*/
and draw ema(5) and draw ema(30)
and draw average day point range(1) 7 day high

Here’s the results it gives for today:

LUV, DGX, BCE, AVCI, EVVV, EMMS

There’s also RBY and IVAN without the “close changed more than 4%” restriction that looked good to me.

This post was contributed by a guest author, and does not necessarily reflect the views of Richard or MovetheMarkets.com