These scans help find stocks which are behaving in a way that indicates a stalemate between buyers and sellers. That may appear as a very tight daily range or, in the case of doji candlestick patterns, as the open price being very close to the closing price. These can be especially useful to help find trend reversals. So while an "indecision" pattern may be worthless in a non-trending stock, it can be a great warning in a stock that's been trending and may be near a possible support or resistance level. As such, these are good candidates to use in a combo scan.
|Doji||Doji indicate that the forces of supply and demand are becoming more evenly matched and a change in trend may be near. Doji alone are not enough to mark a reversal and further confirmation may be warranted.|
|Doji - Bearish?||Doji candlesticks form when a stock's open and close are virtually equal. They show a stalemate / indecision between bulls and bears. A doji after an uptrend may signal a reversal|
|Doji - Bullish?||Doji candlesticks form when a stock's open and close are virtually equal. They show a stalemate / indecision between bulls and bears. A doji after a downtrend may signal a reversal|
|NR7||Narrowest range in the last seven trading days. This shows range contraction. Range contraction often leads to range expansion.|
|NR7-2||Second day in a row of NR7s|
|Spinning Top||A candlestick pattern with a short body between two long wicks. Indicates that neither the buyers nor the sellers have won for the day, as the market has closed relatively unchanged from where it opened; the market is indecisive regarding its trend.|