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easy scan on stock/sector and industry at the same time. Rate this Topic:
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CAP_71
Posted : Sunday, July 1, 2018 11:30:27 PM
Registered User
Joined: 7/20/2017
Posts: 3

Hi,

I have written a number of condition sets to scan for stocks.  One of the things I would like to narrow the selection process down further is to add the ability to check the sector/industry against the stock in the same scan.  

 

ie one instance is to scan against the stock/sector and industry are all in an up trend

Bruce_L
Posted : Monday, July 2, 2018 9:45:21 AM


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Joined: 10/7/2004
Posts: 65,138

Thank you for your suggestion.



-Bruce
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bcochrane
Posted : Monday, July 2, 2018 11:53:06 AM
Registered User
Joined: 9/17/2010
Posts: 484

There are some things you can do. Using PMO 35 as an example, I can:

  • Add the Industry as a "price" panel on my chart
  • Add a PMO panel
  • Change Data Source of PMO Channel to the Industry

From here, I can create a Scan Condition for Industry PMO moving up,abovei its MA, being above zero, depending on my criteria, have the same scan criteria for the stock and determine if both are in an uptrend or not

Or

I can plot a PMO in the same panel for both the stock and the industry, each with its MA10. I can visually see what their repective trends are. On July 2, I happen to have TSC as my chart symbol, and I can see that TSC is stronger than its industry, but both are trending down (downward direction and below their MA10. It appears fromthis chart that I can Create Condition PMO Stock Cross Up PMO Industry, which could be a version of a Relative Strength Cross Over

I beleive it is true to say that Create Condition gives us capabilities we don't have if using PCFs.

 

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