Registered User
Joined: 3/18/2010
Posts: 35
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In the Dec 2013 TASC under Trader Tips there's reference to writing a scan for 1) price exceeding the 5 period moving average of daily high by 5 ticks and 2) price prior to the break of the upper moving average has closed above the 50 day EMA. Can you explain how to write it?
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Registered User
Joined: 8/1/2011
Posts: 4
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Yes I would like to know as well
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Worden Trainer
Joined: 10/7/2004
Posts: 65,138
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If I'm understanding the requirements correctly, a Condition Formula for this could be written as:
C >= AVGH5 + .05 AND C1 > XAVGC50.1
This just checks for the current price to be at least .05 above the 5-period simple moving average of the high and the previous price to have been above the 50-period exponential moving average of the close.
If price needs to have been below AVGH5 + .05 during the previous bar:
C >= AVGH5 + .05 AND C1 < AVGH5.1 + .05 AND C1 > XAVGC50.1
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