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Problem with EMA Scan

I am trying to find certain stocks on a distinct favorite list that would find all Close that were below EMA 8 for the past x number of days, and today the Close would be above that same EMA 8. To me, it's a very simple scan, yet it doesn't find what I am looking for.

Here is what I tried:

[type = stock]
and [favorites list is 10] // The favorite list can change.
and [yesterday Close < EMA (8)]
and [2 days ago Close < EMA (8)]
and [3 days ago Close < EMA (8)]
and [4 days ago Close < EMA (8)]
and [5 days ago Close < EMA (8)]
and [Close > EMA (8)]

Here is my understanding of that scan (starting from the 3rd line):
- The close of yesterday and of 2,3,4,5 days ago was below EMA 8.
- Today's close (at the time of the scan) is above EMA 8.

The scan does find some stocks, but no one correspond to that scan exactly. For instance, today (March 21st) the scan found EXPE: http://schrts.co/HbYcJaMT
Yesterday's close and 2 days ago's close were > EMA 8. That stock shouldn't have been in the result scan.

What's the problem here?

Best Answer

  • lmkwinlmkwin ✭✭
    Accepted Answer
    and [yesterday Close < yesterdays EMA (8)]
    and [2 days ago Close < 2 days ago EMA (8)]
    and [3 days ago Close < 3 days ago EMA (8)]
    and [4 days ago Close < 4 days ago EMA (8)]
    and [5 days ago Close < 5 days ago EMA (8)]
    and [Close > EMA (8)]

    might be more to what you are looking for?

Answers

  • lmkwinlmkwin ✭✭
    looks like EMA 8 level is around 122.5 now. Closes were below that level on the prior days. Maybe need to look at the EMA 8 for each of those days. Like 3 days ago close less than 3 days ago EMA 8.... 4 days ago close less than 4 days ago EMA 8, etc
  • Thanks lmkwin, you nailed it! I forgot to insert the same data before the EMA. Sometimes the solution is right before you eyes!
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