Open High Low Scanner

An open high low scanner is a helpful method for beginners, which can provide you entry predictions. Open high low scanner is used to determine the stocks which show open=low or open=high. If the open = high, then go for a short position, and if the open = low, then go for a long position. It is very easy to use the open high-low strategy.

Example

For suppose if the Reliance share has opened at 1900 and made an opening low at 1900. After that, the stock has rallied to an intraday high of 1950, making decent gains for the long players.

Here BUY signal is formed when OPEN = LOW, and the SELL signal is formed when OPEN = HIGH.

Open high low scanner Options

• If open=high, go short with open price as a stop-loss

• If open=previous day high, go long with 1% stop loss from LTP

• If open=low, go long with open price as a stop-loss

• If open=previous day low, go short with 1% stop loss from LTP

• If open=previous day close,

• If the price up by 1% from the previous day traded price, go short with a 0.5% stop loss from the entry price

• If the price goes down by 1% from the previous day traded price, go long with a 0.5% stop loss from the entry price