Pullback Scanner

Stocks that ran, then came back part of the way. Traders who like to buy strength on a dip watch for these, because the entry is closer to a level they can lean on.

25% Pullback From Highs (PFH25) is a shallow dip, 75% Pullback From Highs (PFH75) a deep one. Pair them with Change From The Close (%) (FCP) at a min like 3 so only stocks with a real move today come through.

Check Mark (CMU) fires on a push up, a pullback, then a move to new highs. The inverted version, Inverted Check Mark (CMD), is the reverse.

The hero chart shows a 75% Pullback From Lows alert: the stock dropped to its low of the day, then won back 75% of the drop, and the alert marks the print. The pullback-from-highs alerts work the same way in the other direction.

1. In TI Pro, open a Streaming Alerts window with PFH25 and FU50.
2. Add Change From The Close at a min of 3 and Relative Volume.
3. Add Price and Dollar Volume.
4. Save and turn on sound.

A 25% pullback means the stock held most of its gain. A 75% pullback means it gave most of it back. Strong trends often hold shallow pullbacks; deep ones can be a sign the move is done.

Some traders look for a pullback followed by a surge back up. Run 25% Pullback From Highs (PFH25) to find the dip and Running Up Now (RUN) or New High (NHP) for the push back to highs.

Trailing Stop, % Down (TSPD) starts at a 0.5% move down off a local high and repeats every 0.25%. It does not manage your position; it tells you how far a stock has slipped.

For swing trades, use Change From 20 Day SMA (%) (MA20P) near 0 in a stock with Change From 50 Day SMA (%) (MA50P) above 0: a pullback to the 20-day average in an uptrend. See the swing trading scanner.

1. A stock gaps up 6% and runs to a high by 10:00 a.m. on heavy volume.
2. It drifts back. PFH25 fires when it has given back a quarter of the move.
3. Price slows near the 50% Fib level, and FU50 fires.
4. A trader using this setup might wait for a green bar or a VWAP reclaim before buying, with a stop under the 62% level.

Shallow trends pull back 38%. Deeper pullbacks to 62% are still normal for many stocks. Past that, many traders stop calling it a pullback.

Uptrend qualifier

Without the trend filters, the same alerts also fire on stocks that are just falling.

An intraday pullback lasts minutes to an hour and is measured against today’s move. The alerts above fire on those.

A swing pullback lasts days. Use a Top List (Screener) with Change (5 day, %) (U5DP) at a max of -3 and Change From 50 Day SMA (%) (MA50P) at a min of 0 to find stocks pulling back inside a longer uptrend, then use the intraday alerts to time the entry.

Check Mark (CMU) finds a push up, a pullback, then new highs. It is a pullback that already worked: the alert fires when price goes back over the high, so it suits traders who would rather pay up for proof than buy into the dip.

Trailing Stop, % Up (TSPU) fires when a stock moves up off a local low: first at 0.5%, then every 0.25% after that. Paired with a pullback filter, it shows the first bounce off a dip as it starts.

Wiggle (Stop Room) (Wiggle) is 15 minute volatility in dollars times relative volume. It tells you how much room the stock needs right now. A pullback stop tighter than the wiggle will likely get hit by normal noise.

• A pullback comes on lighter volume than the move before it. A reversal often comes on heavier volume.
• In a pullback, price holds above VWAP or a key moving average. In a reversal it slices through.
• A pullback stops near a Fib level such as 38 or 50%. A reversal goes past 79%, where Fibonacci 79% Buy Signal (FU79) would be the last buy signal.
• The market is still moving the same way as the stock.

A pullback can turn into a reversal. Set a stop under the next level.

Test your rules in a simulated account first.

• Buying the first red bar in a strong stock without waiting for the pullback to slow.
• Trading pullbacks in stocks that are already below their key averages.
• Using the same stop distance on every stock.