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Registered User
Joined: 10/7/2004
Posts: 2
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We want to write an easy scan to detect a stock that has been consistently under RSI 50 level for 182 days or more. Then, we want to find stocks crossing RSI 50 level. Can you help us.
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Worden Trainer
Joined: 10/1/2004
Posts: 18,819
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What are your RSI settings on the chart?
- Craig
Here to Help!
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Registered User
Joined: 10/7/2004
Posts: 2
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RSI are default 0-50-100
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Worden Trainer
Joined: 10/1/2004
Posts: 18,819
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That is the scale of RSI.
When you plot RSI, what settings are you using for it?
- Craig
Here to Help!
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Registered User
Joined: 12/7/2004
Posts: 6
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HI Craig, I was trying to write it with Lucky Henry, We were just using the default chart. The thing most important was that it was weak with the RSI for 182 days (more than 1/2 year) and always stayed below the 50 line for that time. Then is showing life by popping through the RSI 50 level. Thank you
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Worden Trainer
Joined: 10/1/2004
Posts: 18,819
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I cannot write this PCF for you without the settings.
I will give you the PCF for an RSI of 14 and 10. You will need to change these values in the PCFs to fit the RSI setting you are using:
Create these two PCFs:
RSI14/10 today
RSI14.10
RSI14/10 MAX182 not today
MAX(RSI14.10.1,182)
Once you create them both and calcualte them, create an EasyScan with the following conditions and limits:
WatchList (ALL STOCKS)
Price Per Share (limit to fit your trading range)
Volume 90-day (limit to fit your volume requirements)
RSI14/10 today (VALUE: 50 to MAX)
RSI14/10 MAX182 not today (VALUE: MIN to 49.99)
Please review these two videos if you are not sure how to do the above:
Using EasyScan to find stocks that meet your own criteria
How to create a Personal Criteria Forumula (PCF)
- Craig
Here to Help!
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Registered User
Joined: 6/3/2006
Posts: 6
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Craig, On 3/21/2006 Luckyhenry requested a Easy Scan for RSI LEVEL. I have added this easy scan to my library but I have a problem with one PCF "RSI 14/10 MAX 182 not tody",MAX(RSI14.10.1,182). You stated to set the Value to "MIN to 49.99". However, the value adustment only goes to 68.25008. How do you get it to go to 49.99? Am I missing something in the interpretation? Thank you for any help you may offer.
watfia
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Worden Trainer
Joined: 10/1/2004
Posts: 18,819
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You can use this instead:
MAX(RSI14.10.1,182)<50
The problem is NO stock has kept its RSI below 50 for 182 days. Considering what RSI measures, this is not hard to believe.
How long do you require RSI to stay below 50? Here are some PCFs to try (note how many stocks met the condition)
60 days
MAX(RSI14.10.1,60)<50
(110 stocks)
30 days
MAX(RSI14.10.1,30)<50
(528 stocks)
21 days
MAX(RSI14.10.1,21)<50
(730 stocks)
10 days
MAX(RSI14.10.1,10)<50
(1377 stocks)
- Craig
Here to Help!
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Registered User
Joined: 6/3/2006
Posts: 6
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Craig, Thank you for your quick response. I will use recommendations. waltfia
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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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