I couldn't get online yesterday until late so I read an old article I had saved on some experiments with trading the opening range. Half way through I get a brainwave about your program and started scribbling ideas on the back of my options watchlist of how I would write it. Lol Nerd Alert! Anyway, I wanted to use a parameter to scan for stocks that had traded over a certain dollar value for 5 days previously. And then I realised it needed to be last 5 trading days as it may have been in a trading halt. I will get my nerdy hat on again some time this week and show you what I came up with in my scribbles. Basically it was just like different levels of alert depending on the percentage it had fallen and looping back to the first alert level info to check throughout the day for a further decline. Bearing in mind for a good bounce (IMO) you want a sharp drop, not a slow decline. I split it so that in my version you would be scanning for stocks that lost a percentage from yesterday's close and stocks that have broken lower than today's opening range. I haven't done any programming this year and it got me excited - it's not work when it's for something fun and you understand the objective in its working context. I think it woke my brain up - yay! Lookout!
Looking forward to having my trading hat on again next week after the move. Can't wait!
Good Luck with your project. What language/environment are you using?
I'm a C# Visual Studio fan. Might have to get back into it for some fun and see what I can make too.