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Why does my scan bring up last week's MA cross above?

Hi,

I want to scan for 50EMA x 200EMA during this week on the weekly chart.

This is what I wrote but it gives me the crosses above of last week....does "weekly" mean over the last 5 trading days or from Mon - Fri, like the candle is formed?

[weekly EMA(50, weekly close) x Weekly EMA(200, weekly close)]

Thank you! Johan

Best Answer

  • markdmarkd ✭✭✭
    edited June 13 Accepted Answer
    Well, something funny is going on. It may have to do with the very long emas, but I'm not sure. I also thought it might be a peculiarity of the "x" operator in dealing with the weekly time frame, but that doesn't seem to be it, either.

    If I run either of these scans as of a mid week date (6/13) I get the same result:

    [group is FinancialSector]

    //and [1 week ago weekly EMA(50, weekly close) < 1 week ago Weekly EMA(200, weekly close)]
    //and [ weekly EMA(50, weekly close) > Weekly EMA(200, weekly close)]

    //and [ weekly EMA(50, weekly close) x Weekly EMA(200, weekly close)]

    The result is FPO and the chart shows the crossover occurring last week as you said.

    If I run either scan as of the close of the prior week (6/9) both scans get the same result, XXII. But that is not the same as 6/13, which is what you might expect.

    Another possibility is the charting is not handling it correctly.

    Maybe @gord has some thoughts.

    Well, I just stepped through the weekly chart day by day. It appears the weekly EMAs don't change daily. That suggests they are not calculated and entered into the database until Friday close. So it looks like you can't get those crossovers during the week.

Answers

  • Hi @markd

    Thank you for your quick response!

    Here's the complete scan in case there's something I'm not doing right:

    [type = stock]
    and [[Country is Canada] or [Country is US]]
    and [Daily sma(100,Daily Volume)>250000]
    and [[close > 1.00] and [close < 35.00]]

    #Weekly EMA(50) x Weekly EMA(200) on weekly chart displayed this week or as it's happened today

    and [weekly EMA(50, weekly close) x Weekly EMA(200, weekly close)]

    The results I'm getting right now are:

    AES, CX, DDC.TO, ELOS, FOLD, IMG.TO

    I would say all but FOLD & IMG.TO the crosses above occurred last week, but I'll let you be the judge!

    Thank you Mark!
    Johan
  • Hi @markd, Thank you. At least I can stop working to get to an answer...lol.
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