So I'm trying to come up with a scan that tells me short term bull/bear investment opportunities with a high degree of confidence.

I start with two filters that allow me to scan for high volume (100,000+) and high market cap ($500M+) stocks. The next two filters allow me to scan which stocks are above/below the 50 and 200 daily EMA (exponential moving average). For bears I set it to “BELOW” and for bulls I set it to “ABOVE”.

Then I get fancy utilizing a script to scan an indicator called TTM_Squeeze. You can learn more about this indicator from multiple youtube videos. I've kind of made my own strategy though.

Fancy Pants Script

# Histogram variables
def hist_0 = TTM_Squeeze()."Histogram";
def hist_1 = hist_0[1];
def hist_2 = hist_0[2];
def hist_3 = hist_0[3];
def hist_4 = hist_0[4];

# Squeeze Alert
def SA_0 = TTM_Squeeze()."SqueezeAlert";
def SA_1 = SA_0[1];
def SA_2 = SA_0[2];
def SA_3 = SA_0[3];
def SA_4 = SA_0[4];

# Change in Histogram
def delta_0 = hist_0 - hist_1;
def delta_1 = hist_1 - hist_2;
def delta_2 = hist_2 - hist_3;
def delta_3 = hist_3 - hist_4;

# SqueezeAlert condition
def SAcon = SA_0 == 1 and
            SA_1 == 1 and
            SA_2 == 1 and
            SA_3 == 1 and
            SA_4 == 1;

# Conditions for bear
def falling  = delta_0 < 0 and
               delta_1 < 0 and
               delta_2 < 0 and
               delta_3 < 0;
def freefall = delta_0 < delta_1 and
               delta_1 < delta_2 and
               delta_2 < delta_3;

# Conditions for bull
def rising   = delta_0 > 0 and
               delta_1 > 0 and
               delta_2 > 0 and
               delta_3 > 0;
def rocket   = delta_0 > delta_1 and
               delta_1 > delta_2 and
               delta_2 > delta_3;

#plot bear = SAcon   and 
#            falling and 
#            freefall;
plot bull =  SAcon  and 
             rising and
             rocket;

Basically the script is looking for stocks that ARE NOT consolidating their price in the last 5 bars. That's the “SAcon” variable. Then for bears, it looks for stocks that have a falling Histogram value which is accelerating downward. For Bulls, it looks for stocks that have a growing Histogram value which is accelerating upward.

Here's what it gave me after closing today.

Bear Results for Today (by Volume)

BMBL, DAVA, RARE, CXOXF

Bull Results for Today (by Volume)

HWM, AZN, ACGL, THC, TTE, BBIO, CME, AVDL, SLAB, XPRO, TNP, TRMD, WAFD, RDY, MLTX