I scan for stocks using the "pincher" method from time to time. Basically you have the concept down and its something I use to give me a "early warning" for possible bottoms or new uptrends.

If you use stockcharts.com scan engine then try this:

[type = stock] and [country = us] and [daily sma(20,daily volume) > 200,000] and [PPO Line(12,26,9) < -10.0] and [ADX Line(14) > 30.0] and [Close < 10.0] and [RSI(6) > 30.0] and [RSI(2) > 40.0] and [Volume > 200,000] and [RSI(2) > RSI(5)] and [RSI(14) > 28.0] and [CMF(20) > -0.3]

Its not the "pincher" scan 100% but its pretty close.

SA