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Registered User
Joined: 3/12/2005
Posts: 7
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Dear Trainer!
I'm interested in developing a scan to find stocks which meet criteria from Stan Weinstein's book. Here are a few of the characteristics:
RSI > that of 5 days ago
closing price > average in the past 30 days
vol > 120% of last two months average
avg vol > 100,000 shares
price today is higher than the last month's average
price today > in the last 3 weeks.
I'd really appreciate your steering me in the right direction to create this. Is it an Easyscan? Do I need to develop a pcf?
I would like to use this as a learning oppty.
Thanks,
Evy Blum,
Platinum
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Worden Trainer
Joined: 10/1/2004
Posts: 18,819
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We will need some PCFs.
Answer a few questions for me and I can put this all together for you
1. What are the settings for your plotted RSI?
2. Over what time period should we have the average volume over 100,000 shares?
- Craig
Here to Help!
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Registered User
Joined: 3/12/2005
Posts: 7
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Craig, you're the best!
Sadly, I don't understand your first question, about settings for plotted RSI.
And I'd say average volume over the last three months.
Evy
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Worden Trainer
Joined: 10/7/2004
Posts: 65,138
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evie77,
To find your RSI settings, right-click on the RSI on your chart. That should bring up a Wilder's RSI Settings window where you can check the following settings:
RSI Period: ?
Use Wilders Smoothing: Checked or Unchecked?
Avg Period: ?
Average Type: Simple or Exponential?
You may wish to review the following:
Adding, removing and saving indicators to a chart template
Customize your charts using Chart Templates
-Bruce
Personal Criteria Formulas
TC2000 Support Articles
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Registered User
Joined: 3/12/2005
Posts: 7
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OK, Bruce. RSI period is 14 and average period is 25. And Exponential
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Worden Trainer
Joined: 10/1/2004
Posts: 18,819
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Check out these two videos for me
How to create a Personal Criteria Forumula (PCF)
Using EasyScan to find stocks that meet your own criteria
Now create the following PCFs:
RSI x14,25 up (5-day)
XAVG(RSI14.1,25)>XAVG(RSI14.1.5,25)
Close above 30sma
C>AVGC30
2-month Volume Surge
100*V/AVGV42
3-month Avg Vol
AVGV63
Close above last month's avg
C>AVGC21.21
New 3-week high
H>MAXH14.1
Once created and calculated (as shown in the video), please build the following EasyScan
WatchList (ALL STOCKS)
Price Per Share (limit based on your trading)
Volume 90-day (limit based on your trading)
RSI x14,25 up (5-day) (no limit needed)
Close above 30sma (no limit needed)
2-month Volume Surge (VALUE 120 to MAX)
3-month Avg Vol (VALUE 1000 to MAX)
Close above last month's avg (no limit needed)
New 3-week high (no limit needed)
Save your EasyScan and enjoy the resulting WatchList of stocks that fit your conditions.
- Craig
Here to Help!
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Registered User
Joined: 3/12/2005
Posts: 7
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Thank you so much, Craig. I'll watch the videos as soon as the market closes, then get to working building my first PCF's and EasyScans. I really appreciate your help with this.
Evy
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Worden Trainer
Joined: 10/1/2004
Posts: 18,819
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My pleasure!
- Craig
Here to Help!
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Registered User
Joined: 3/12/2005
Posts: 7
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Craig, the videos were excellent and I build the pcf's and EasyScans per your instructions. I"ll need to work to tighten up this screen, but now I have a pretty good idea of how to do it.
Thank you for all your help.
Best wishes,
Evy Blum
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Worden Trainer
Joined: 10/1/2004
Posts: 18,819
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Great! Let me know if you have any more questions.
- Craig
Here to Help!
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