ConnorsRSI & Other

TradePlus

Hello, I am a newbie here.

Is there anyone that has coded the ConnorsRSI? also, how can you code 'close today less then X% of close yesterday?'

markd

I don't think you can code ConnorsRSI in the scan engine, because it doesn't allow you to capture numbers - like the number of consecutive down days or up days.

You could code Connors RSI(2). You would look for RSI(2) less than 20 and the 200 SMA rising and close below SMA 5.

For close less than x % of yesterday's close, say 95%, you would compare today's close to yesterday's close times .95.

You can build scans by selecting terms from the "Technical Indicators" drop down and editing the default version to your needs. There are a few rules of syntax that you have to follow.

Instructions are here:

https://stockcharts.com/docs/doku.php?id=scans

Follow the links on that page.

Here are the basics:


Every statement begins with “and” except the first one.

Every statement, except the word "and", goes between square brackets [ ]

NOTE: Parentheses "( )" are reserved for indicators and functions, like RSI(14) or max(10,close). If you need to group arithmetic expressions, use more square brackets, not parentheses: For instance:

And [ [high – close]/max(10, close) > 10]

Every statement contains an operator. Valid operator are: is, is not, >, <, =, !=, >=, <=, x, contains, not contains.” !=” means “not equal to”. “x” means “crosses above”.

Every statement has one value preceding the operator and one value after the operator. Values can be indicators, overlays, numbers, reserved words like group, market cap, close, etc. (see drop downs on Advanced Scan page) or expressions using these values. Some examples:

[group is SP500] // note: this would be a first scan statement because it doesn’t begin with “and”
And [MACD Line(12,26,9] > 20]
And [MACD Line(12,26,9) x MACD Signal(12,26,9)]

You can also write “or” statements. “Or” statements need to be isolated with an extra set of brackets:

// begin scan
[group is sp500]
// get bullish and bearish crossovers
And
[
[ MACD Signal (12,26,9) x 20]
Or
[ 80 x MACD Signal(12,26,9)]
]
// end scan

The double slashes "//" tell the scan engine to ignore everything on that same line that comes after the "//". So you can use that space to explain to yourself (for later) what you thought you were trying to do in the scan code.

NOTES on scan logic with “and” and “or”:

If a scan has ONLY “and” statements, all the “and” statements must be true for the scan to return a symbol.
If a scan has ONLY “or” statements, then only one condition must be true to return a symbol.
If a scan has a mix of “and” and “or” statements, the results depend on whether you isolated the “or” statement with extra brackets as shown above:
If you don’t use the brackets, then only one condition in the entire scan has to be true to return a symbol.
If you do use brackets, then every “and” condition must be true AND at least one “or” condition must be true to return a symbol.

Start simple.

It's actually harder to figure out WHAT to code than HOW to code.

For instance, how would you code for a rising SMA 200?

You need to think about what would be true if the SMA 200 really is rising. First thought - the value today would be different from the value yesterday, or maybe 10 days ago or 100 days ago.
And it would be greater because it is rising. So the scan would compare today's SMA 200 to the past SMA 200 and it would be greater, so:

and [sma(200,close) > 10 days ago sma(200, close)]