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Intraday Bounce Pattern Scanner Guide

The document outlines the conditions for an Intraday Bounce Pattern Scanner using 15-minute and 30-minute timeframes, focusing on the rising 20 and 50 SMAs. It defines a 'bounce' as a green candle touching or dipping below the SMA, with specific rules for first and second bounces. Examples are provided to illustrate valid bounces, while conditions that disqualify bounces are also noted.

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6 views2 pages

Intraday Bounce Pattern Scanner Guide

The document outlines the conditions for an Intraday Bounce Pattern Scanner using 15-minute and 30-minute timeframes, focusing on the rising 20 and 50 SMAs. It defines a 'bounce' as a green candle touching or dipping below the SMA, with specific rules for first and second bounces. Examples are provided to illustrate valid bounces, while conditions that disqualify bounces are also noted.

Uploaded by

nouman
Copyright
© All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as DOCX, PDF, TXT or read online on Scribd

✅ Intraday Bounce Pattern Scanner — Final Conditions

🔁 Timeframe

 You are using 15-minute and 30-minute timeframes.

✅ SMA Conditions

1. 20 SMA and 50 SMA must both be rising (sloping upward).

o This ensures an uptrend is present.

o Rising SMA = 20 SMA > 50 SMA (we check slope).

✅ Bounce Detection Rules

🔹 Candle Bounce Definition:

A candle is considered to be "bouncing on SMA" if:

 The low of the candle touches or dips below the SMA line.

 The candle is green (Close > Open) — wick or body must touch the SMA.

🔹 First Bounce:

 First bounce must happen on either 20 or 50 SMA.

 This bounce is accepted if:

o It touches 20 or 50 SMA

o SMA is rising

o Candle is green

🔹 Second Bounce (after the first one):

 Second bounce or after 1st any bounce can happen on either SMA — doesn't need to be the
same one as before.

 Conditions:

o Must be later than the first bounce

o Candle must again take support on an SMA

o SMA must be rising at that time

o The candle low must form a higher low compared to the previous bounce (on that
SMA).

✅ Example:

TORNTPHARM CHART TIMINGS 15 MIN

 🟢 1st bounce → 20 SMA on 15-Jul-25 09:45


 🟢 2nd bounce → 50 SMA on 16-Jul-25 13:30

 ✅ Valid, because:

o Both candles touch respective SMAs

o SMAs rising

o Each bounce makes a higher low than the last bounce on that SMA

❌ What is ignored or filtered:

 If SMA is flat or falling.

 If both SMAs are rising but the candle doesn’t touch either SMA.

 If bounce is not a higher low than last bounce on that same SMA.

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