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ndominique6
Posted : Wednesday, June 6, 2012 1:52:27 PM
Registered User
Joined: 3/18/2011
Posts: 12

how do I scan for stocks consolidating on the the 200 day moving average on the the daily time frame

Bruce_L
Posted : Wednesday, June 6, 2012 2:04:43 PM


Worden Trainer

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

You need to start by defining what you mean by consolidating on the 200-day moving average.

For example, you could use the following Condition Formula if you mean price is within 1% of the 200-Period Simple Moving Average:

100 * ABS(C / AVGC200 - 1) <= 1

Or you use the following Condition Formula if you mean price is getting closer to the 200-Period Simple Moving Average between the previous bar and the current bar:

ABS(C / AVGC200 - 1) < ABS(C1 / AVGC200.1 - 1)

You could combine both requirements into:

100 * ABS(C / AVGC200 - 1) <= 1 AND ABS(C / AVGC200 - 1) < ABS(C1 / AVGC200.1 - 1)

No matter what you are trying to identify, the very first step is to actually come up with a specific unambiguous objective definition.

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-Bruce
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