Aroon Lines Cross

kevin55301

Hi,

I looking to create a scan that show when the aroon lines cross? Any suggestions?

Thanks in advance

lmkwin

Aroon Up(XX) x Aroon Down(XX)

In the Technical Scan workbench, The Aroon's are an available option in the Technical Indicators dropdown.

kevin55301

I see [Aroon Up(25) > 70.0] and [Aroon Down(25) < 30.0] in the indicators but how do I scan for when the lines cross?

lmkwin

Aroon Up(XX) x Aroon Down(XX)

the X is used to show a cross. It can be used in a number of situations like

[Aroon Up(25) x 70.0] if you were looking for the Aroon Up 25 crossing the 70 level.

[Aroon Up(25)] x [Aroon Down(25)]

The cross reads left to right so you can reverse the expressions to look for the opposite cross.

[70.0 x Aroon Up(25)]

Something that I've found extremely informative and educational is the Search function on StockCharts and S.C.A.N. There is a true treasure trove of information on what and how-to and why on these sites.

kevin55301

I tried that but I get too many results and really doesn't show the point where the lines crossed.

markd

If you want fewer hits, you have to limit the stocks you want to look at. You can do this any way you want:

- select and edit some combination of ticker properties - e.g. market cap and optionable
- select a pre-defined group, e.g. group is sp100, or group is EnergySector
- create a favorites list of stocks you want to follow and select it from the Chartlists dropdown
- etc.

If the scan is not showing where the lines crossed, make sure your chart style has the same parameters for the indicator as your scan, and you are using the same time frame for both (daily, weekly, etc.)

kevin55301

Here's what I'm using but I still don't get the results of the crossing lines:

[type = stock] AND [Daily SMA(20,Daily Volume) > 40000]
AND [Daily Aroon Up(25) >40 ] and [Daily Aroon Down(25) <60]
and [group is SP500] and [optionable is true]

Any Suggestions?

lmkwin

move your group up to the second line. You build a scan from top to bottom. Starting with the biggest or widest net and then working your way down. Your scan says, give me stocks that have a minimum volume. AND those that the Aroon up is greater than 40 and the Aroon down is less than 60. AND give me SP500 stocks that are optionable.

Rearranged would work much better in general. Now, specifically you wanted a cross of the Aroon I believe. You need still need to add the Cross criteria to your scan. Your Aroon line will rarely if ever show a current.

The X is used to show a cross. It can be used in a number of situations like

[Aroon Up(25) x 70.0] if you were looking for the Aroon Up 25 crossing the 70 level.

[Aroon Up(25)] x [Aroon Down(25)] would give you the stocks where the Aroon Up is crossing the Aroon Down

The cross reads left to right so you can reverse the expressions to look for the opposite cross.

[70.0 x Aroon Up(25)]

Now, IF you are looking for this cross criteria based on an email teaser from a site that says that this is a magic X signal that never fails to identify the great stocks breaking out......, just an FYI, I think they use the Weekly Aroon's.

kevin55301

That worked...I will see if weekly aroons provide a more profitable outcome than daily aroons.

lmkwin

Glad you got the Cross code to work for your needs. Let me know if you find the scanning useful. The Aroon indicator was created by Tushar Chande. He also created the Chande Trend Meter among other technical indicators. He has a blog on StockCharts with very good technical analysis called Trend Check with Tushar Chande. He often includes his scan code in his blogs.