To be more precise it works well on trending market i.e bull or bear market but not on side ways. In bear market when price is making Lower lows but RS is making higher high means time is up for bears and bull is ready. Vice versa for bull market.
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This scan will give you linear/smooth/non-choppy trends which are great for pullback trades for working people.
#BroTip
#BroTip
If you want to trade only stocks with established trend/momentum, then you can look for stocks which have never(or barely did) closed below a certain MA (say 50MA) in the last say 50 days.
— Manas Arora (@iManasArora) November 8, 2021
There are countless ways to run scans. Just have to get creative. #BroTip