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Scan for multi year monthly RSI high
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If you haven't already, check out the Instructions link at the bottom of the Advanced Scan page for a good explanation of how the scan page works.
Your idea has a couple of wrinkles that might need extra explaining.
But the first thing to do is, insert into the scan window all the indicators you will need.
In your case, you need RSI and you need a function called Max. Both are in the Technical Indicators drop down, so select them and insert them - insert RSI twice, then Max.
[type = stock] AND [Daily SMA(20,Daily Volume) > 40000]
and [RSI(14) > 70.0]
and [RSI(14) > 70.0]
and [Max(253,close) > 99.9]
Now you need to do some editing.
You want the current RSI to equal the max RSI for some period. So edit the first line like this:
and [RSI(14) = ]
Then you need the max function inside those brackets:
and [RSI(14) = Max(253,close) ]
You want max RSI, not max close, so substitute RSI for close.
and [RSI(14) = Max(253, RSI(14)) ]
Now the problem is, that is a daily scan, not a monthly scan.
To make it a monthly scan, you need to put the word "monthly" in front of RSI everywhere it occurs, and also in front of Max( ...). Then you need to modify "253" to the number of months you want a max for - so maybe 36 or 48 or 60 (3 - 5 years in months). You can also modify the 14 if want a different length for the RSI.0
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