Range

daniel_fromcebu

How do I scan for Range greater than 2 X any 14 ago period
and close is 10% below the Range at the bottom..
Help!!!

markd

The largest range for any period would be max(?, range) where "?" is the number of bars in the look back period (in your case, 14).

Two times that would be max(?, range) * 2

I don't know what you mean by

"close is 10% below the Range at the bottom."


A close is always inside the range of the current bar. The close can equal the high or low, but it cannot be above or below the high or low.

So 10% of which range?

And below which bottom?

daniel_fromcebu

Close is10 % Below the low of the Range...Markd shouldn't it be min(?,range) because I want the close really oversold.

daniel_fromcebu

Sorry Mark I mean the body is 10 % from the low ie..close-low< .1 * range...
Let's see if this is the right syntax: and [range > min(14, range)*2
and [ close-low < .10 * range ]....Markd will this do it?

markd

min(14, range) would give you the shortest bar of the last 14.

max(14, range) would give you the tallest bar of the the last 14.

I'm assuming you want the current bar to be taller (longer) than any of the 14 bars before it.


So it would be

and [range > 1 day ago max(14, range)]

and [close - low < .1 * range]


The max( ) and min( ) functions don't say anything about the direction of the range.

If you want to be sure that you are testing a for a down leg, you could add a test for the direction of a short term MA, or test for the lowest close in x bars, e.g.

and [close = min(14, close)]

daniel_fromcebu

Markd, I want the range (high-low) to be 2 X lower than the lowest (high-low) any 14 periods ago..not the body of bars...thanks for your help..hope this clarifies my question.

daniel_fromcebu

[type is stock] and [sma(20,volume) > 40000]and
[Range > 1 day ago max(14, Range)*2]
and [Close-low<.1*Range]
and [Close< min(14, close]
#Markd , I tried this and the last syntax is not correct...

daniel_fromcebu

Markd, miss the close parenthesis..it works for 1.25 times..nothing comes out for 2X
Thanks a lot for your help..

markd

I'm sure if you test back far enough you will get 2x examples. Maybe not enough, though.

daniel_fromcebu

Markd...here's a stock that you should buy come Monday...ASCMA

markd

I see what you are thinking. Interesting idea, but too soon for me (not a judgement, just a matter of style). Thanks!

markd

@daniel_fromcebu Starting to look like this could work out - a couple of above average volume days that didn't make new lows. That's good in a down trend.