OmniTrader Professional Forum : OmniScan : Select stocks that has dropped price by X

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OmniTrader Professional Forum OmniScan Select stocks that has dropped price by X		Last Activity 1/16/2025 4:54 AM 1 replies, 256 viewings

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Duxx

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Posts: 881

Joined: 2/18/2009

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Subject : Select stocks that has dropped price by X
Posted : 11/30/2024 10:24 PM
Post #32491

Hello everyone

Trying to build a scan where the stock has dropped by X % in the last year and currently it has not drop further in the last week (but also did not rise by more than 10%)

Any ideas on how to build this scan?

Thanks

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Etherist

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Posts: 25

Joined: 6/9/2024
Location: South Australia

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Subject : RE: Select stocks that has dropped price by X
Posted : 12/2/2024 4:27 AM
Post #32494 - In reply to #32491

Hey there Duxx,

Here’s how you could structure the formula:

Scan Criteria:

Stock Dropped by X (in this example its 20%) in the Last Year: Look at the closing price over the past year and ensure that the stock dropped by more than or equal to 20%.
Current Status (Last Week): The stock should not have dropped further in the last week, but it also did not rise by more than 10%.

1. Click on 'Add Scan' to create a new scan.

2. In the 'Scan Type' dropdown, select 'Technical'.

4. Enter a name for your scan in the 'Name' field, such as '20% Drop Last Year with No Further Dips'.

5. In the 'Conditions' section, add a condition that checks if the stock has dropped by at least 20% and not dropped further in the last week (or rose by more than 10%).

((Close / Close(-365) - 1) * 100 <= -20)
AND ((Close / Close(-7) - 1) * 100 >= 0
AND (Close / Close(-7) - 1) * 100 <= 10)

6. Save your scan and run it to get a list of stocks that meet your criteria.

Give this a go and let me know if that is what you are hoping to achieve.

Please note: This formula does not account for the possibility that the stock price may have risen or fallen by more than the set criteria over either of the periods of 1 year (at least -20%) or the past week (0 to 10%).

Cheers Etherist

[Edited by Etherist on 12/18/2024 8:47 PM]

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