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Using SPY as a filter in scans.
I had an idea that I would use SPY as a filter to easily decide if I should buy stocks. Yes, I know I can simply look at SPY on a daily chart and look at its ema in an overlay. But for the sake of learning if I can include it in a scan, I'm asking the question.
So, for example, if I make a trading rule that I will not buy stocks when SPY is below its daily ema(12), then the scan results should give me a return of 0 on days when that conditional filter is met. I tried the syntax " AND [ SPY > EMA(12) ] ", but that doesn't work, as there is no relationship in that syntax that connects SPY to its own ema. I'm currently stumped as to how to proceed.
All feedback will be appreciated.