Scan for pullbacks from new highs

[Louis]

Hi,

I am trying to build a script to use as a scan. Unfortunately,  I  am stuck.

I want to find stocks that:
1) made a 252 day closing high in the last 10 days
2) has closed below that new high by more than 25% but less than 38.2%.

Here is what I have. I know that my Variable 1 does return stocks that closed at a 252 day high in the last 10 days.  I cannot figure out how to find stocks that have now closed 25% to 38.2% below that high returned in Variable 1.

thank you,
Louis.

//Calculate new 252 day closing high in the last 10 bars. V1 = CLOSE() >= HIGHESTHIGH(Close(), BARS=252, EQUAL=True, INCBAR=True) and TIMESINCESIGNAL(V1) <= 10; //Define 25% below V1 and 38.2% below V1. V2 = (V1 * -0.25); V3 = -(V1 * -0.382); //Show when conditions are true. Close() <= V2 and >= V3;

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//Calculate new 252 day closing high in the last 10 bars. V1 = CLOSE() >= HIGHESTHIGH(Close(), BARS=252, EQUAL=True, INCBAR=True) and TIMESINCESIGNAL(V1) <= 10;   //Define 25% below V1 and 38.2% below V1. V2 = (V1 * -0.25); V3 = -(V1 * -0.382);   //Show when conditions are true. Close() <= V2 and >= V3;

• This topic was modified 2 years ago by Louis Spector.

[Matthew]

Hi,

Here is how i would script the criteria you listed:

//Find new 252 Day Highs V1 = High() CrossesAbove HIGHESTHIGH(BARS=252) ; //Find New Highs within the last 10 days V2 = TIMESINCESIGNAL(V1) <= 10; //Find High Value at last trigger V3 = PRICEATSIGNAL(V1, PRICE=High); //Find Pullback Range V4 = V3 * 0.75; V5 = V3 * 0.618; //Results CLOSE() >= V5 and CLOSE() <= V4 and V2 == 1

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//Find new 252 Day Highs V1 = High() CrossesAbove HIGHESTHIGH(BARS=252) ; //Find New Highs within the last 10 days V2 = TIMESINCESIGNAL(V1) <= 10; //Find High Value at last trigger V3 = PRICEATSIGNAL(V1, PRICE=High); //Find Pullback Range V4 = V3 * 0.75; V5 = V3 * 0.618; //Results CLOSE() >= V5 and CLOSE() <= V4 and V2 == 1

Here is how it looks on a chart:

Black Line = Highest High (252 days) and Pink Arrows = Criteria Pass

• This reply was modified 2 years ago by Matthew.

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