Registered User Joined: 3/18/2011 Posts: 12
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how do I scan for stocks consolidating on the the 200 day moving average on the the daily time frame
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Worden Trainer
Joined: 10/7/2004 Posts: 65,138
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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.
Personal Criteria Formula Conditions
PCF Formula Descriptions
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