Script Assistance

[Marie]

Hi, Just wondered if anyone can assist me with the following criteria for a script for scans:-

1. 50MA<20MA
2. 20MA<7MA
3. Price< Highest High (Last 52weeks)
4. Price uptrending
5. Price uptrend change >10% (Last 14days)

I have attached the charts showing typically what I need. The current script I am using is including too many false +ves.
CLOSE(Day(PERIODAMOUNT=1), OFFSET=2) CROSSESABOVE MA(7)

Many thanks and appreciate any assistance.

[Mathew]

Hi Marie,

You do not need to specify the daily time frame if you are using this on Day Charts and scanning on daily data ( which is the default).

I like to break up scans into separate items and put them in variables like “C1” which in my mind I call “Condition 1”

// 50MA<20MA c1 = MA(Bars=50) < MA(Bars=20); // 20MA<7MA c2 = MA(Bars=20) < MA(Bars=7); // Price< Highest High (Last 52weeks) c3 = CLOSE() < HIGHESTHIGH(BACKTYPE=Weeks, BARS=52); // Price uptrending // I'm not sure how you define this. You could use ADX for trend strength, or a Gann Swing to define trend direction. c4 = GANNSWING(SWINGCOUNT=2) IsUp; //Price uptrend change >10% (Last 14days) c5 = CHANGE(INT_COUNT=14, INT_TYPE=Day) > 10; // now we combine them all with ANDS since we want all to be true c1 AND c2 AND c3 AND c4 AND c5

1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20

// 50MA<20MA c1 = MA(Bars=50) < MA(Bars=20);   // 20MA<7MA c2 = MA(Bars=20) < MA(Bars=7);   // Price< Highest High (Last 52weeks) c3 = CLOSE() < HIGHESTHIGH(BACKTYPE=Weeks, BARS=52);   // Price uptrending // I'm not sure how you define this. You could use ADX for trend strength, or a Gann Swing to define trend direction. c4 = GANNSWING(SWINGCOUNT=2) IsUp;   //Price uptrend change >10% (Last 14days) c5 = CHANGE(INT_COUNT=14, INT_TYPE=Day) > 10;   // now we combine them all with ANDS since we want all to be true c1 AND c2 AND c3 AND c4 AND c5

What I like about using the variables is if there are any issues, I can go line by line and examine each item to be sure that it is right. eg If I wanted to check my Gann Swing rule, I can comment out the last line and just put c4 as the output like this

// 50MA<20MA c1 = MA(Bars=50) < MA(Bars=20); // 20MA<7MA c2 = MA(Bars=20) < MA(Bars=7); // Price< Highest High (Last 52weeks) c3 = CLOSE() < HIGHESTHIGH(BACKTYPE=Weeks, BARS=52); // Price uptrending c4 = GANNSWING(SWINGCOUNT=2) IsUp; //Price uptrend change >10% (Last 14days) c5 = CHANGE(INT_COUNT=14, INT_TYPE=Day) > 10; // now we combine them all with ANDS since we want all to be true //c1 AND c2 AND c3 AND c4 AND c5 c4

1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20

// 50MA<20MA c1 = MA(Bars=50) < MA(Bars=20);   // 20MA<7MA c2 = MA(Bars=20) < MA(Bars=7);   // Price< Highest High (Last 52weeks) c3 = CLOSE() < HIGHESTHIGH(BACKTYPE=Weeks, BARS=52);   // Price uptrending c4 = GANNSWING(SWINGCOUNT=2) IsUp;   //Price uptrend change >10% (Last 14days) c5 = CHANGE(INT_COUNT=14, INT_TYPE=Day) > 10;   // now we combine them all with ANDS since we want all to be true //c1 AND c2 AND c3 AND c4 AND c5 c4

Hope that helps point you in the right direction

Mathew

1 user thanked author for this post.

Thomas

[Matthew]

That’s a great example of best-practice scripting.  Thanks Matthew.

[Author]

Posts