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Previous Day's Low Breakdown Scanner
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About Scanner – Previous Day's Low Breakdown Strategy
This strategy identifies stocks showing strong intraday bearish breakdown momentum by combining bearish price action and volume participation.
Strategy Description -
- Price breaks below the previous one day’s low on 5-minute ticks, triggering a sell signal on first rejection / breakdown.
- Latest tick close price is below the latest tick open price, indicating selling pressure on the current tick.
- Latest tick volume is higher than the previous (P-1) tick volume, showing increasing participation from sellers.
- Timeframe: Works best on 5-minute ticks for clean opening range breakdowns.
- Ideal Market Sessions: Most effective during 9:20–10:30 AM, after the opening range is established.
- Volume Confirmation: Monitor volume closely - Momentum is trustworthy when supported by good volume.
- Avoid Sudden Spikes: If there’s a huge price move in the last two to four ticks, stay cautious as volatility may fade quickly.
- Filter Stocks: Apply this strategy to your favorite stock basket or your watchlist.
Fine Tune : You can customise these screeners by clicking on 'Fine Tune Filter' Option
Caution : All these screeners are crafted based on some historical scenarios which may / may notbe applicable here. We recommend to fine tune them according to current market conditions or seek expert advise before taking any decision.