Registered User Joined: 1/11/2015 Posts: 7
|
How would i create a scan for this:
1. Stock has to be in an uptrend for mimimum of 2 years. (on a MONTHLY chart you could draw a trend line that touches 3 points)
2.From the highest candle in the trend, (MONTHLY chart), I am now looking for 3 consecutive months where closing price is below opening price starting from thie highest candle in the trend. MINIMUM 2 year trend.
-want to scan on monthly timeframe
Thank you
|
Worden Trainer
Joined: 10/7/2004 Posts: 65,138
|
I cannot think of a practical method of implementing the trendline that touches 3 points in a Personal Criteria Formual.
The following formula alternately checks for a positive liner regression slope and an RSI greater than 70 over the course of those 24 bars instead. There are quite a few alternatives to check for a trend over those 24 bars.
TrueInRow(C < O, 3) = 3 AND H2 = MAXH24.2 AND FAVGC24.2 > AVGC24.2 AND RSI24.1.2 > 70
-Bruce Personal Criteria Formulas TC2000 Support Articles
|
Registered User Joined: 1/11/2015 Posts: 7
|
thank you Bruce
|
Registered User Joined: 9/17/2010 Posts: 484
|
Sticking my nose in, I posted a technique for finding stocks in an up trend
http://forums.worden.com/default.aspx?g=posts&t=68222
You could change the last value in the CountTrue PCF to 500 for two year span or change period of PCF to Weekly from Daily, and use 104 for the last variable. or change to Monthly and use 24
Doesn't address your specification about trend line touching in three points, but I hope it helps
|
Worden Trainer
Joined: 10/7/2004 Posts: 65,138
|
Other people sticking their nose in and providing alternative techniques and opinions is one of the advantages of the forum format. Thank you for providing more information which might provide additional insight into the best way to do this.
-Bruce Personal Criteria Formulas TC2000 Support Articles
|