Table of Contents
Understanding the New Low Alert
New Lows refer to the lowest prices that a stock has reached in a particular period. When a stock reaches a new low, it means that a stock has reached the lowest level it has ever been during that period.
This alert is related to the Position in Range filter. Use this filter to make other alert types sensitive to new lows.
By default, this alert will appear any time there is a print for a lower price than the rest of the day. Lows are reset once a day at a time determined by the exchange.
For 'New Lows' alerts, you have the option to use an alert specific filter. This filter is located immediately to the right of the corresponding alert and is always optional. You can decide to leave it blank if you want to receive more alerts, or you can fill it in to restrict the number of alerts you receive.
This filter allows you to specify the quality of the alert. When you set a higher number for this filter, you are telling the alerts server to display only alerts that meet a higher quality standard, resulting in fewer alerts being shown.
When setting an alert for 'New Lows,' you can specify a minimum number of days. Here's what different values mean:
- 0: Any new low triggers an alert.
- 1: A low must be lower than yesterday's low to trigger an alert.
- 7: Only new lows for the week will be shown.
- 365: Only 52-week lows will be shown.
You can use any number between 0 and 366. The default value is 0.
The description column of your scan will provide more details about the new low. When the alert server detects a new low, it looks for the most recent day before today when the price was lower than it is now. It reports the day when this happened, and the low for the day as the support in the description column. Note: This is a very simple version of support based only on daily lows. Several other alerts implement more advanced algorithms for finding support and resistance.
Add the quality column to a scan using the New Low Alert to see the exact lookback period of the alert.
Alert Info for New Low [NLP]
- description = New low
- direction = -
- keywords = Highs and Lows Single Print
- flip_code = New high [NHP]
- parent_code = NHP