How Do You Scan For An Indicator On A Single Stock?

SCAlchemist

How do you write a scan for an indicator on a Single Stock?

For example, when the MACD (12,26,9) crosses up on a single stock ( e.g. Barrick Gold, " GOLD " ) ?

lmkwin

Symbol = gold and Macd crosses

It would be better served as an Alert vs a Scan but actual code would be the same.

SCAlchemist

Thanks.

What I was missing was that the stock name requires quotation marks:

and [ "GOLD" ]

and Macd crosses

lmkwin

Good you got it to work. I say better served as an alert vs a scan because you are asking for a cross. Crosses don't happen very often so you'd have to run the scan, or configure the scan, to allow for "catching" the cross.

Alerts will only "trigger" when there is something that meets the criteria. Nice thing about Alerts is that you can set them to capture more than one thing. So if you had a few symbols in the sector that you wanted to be alerted to on a MACD cross, and/or members of an industry or sector crossing, you can configure the Alert to alert you.

SCAlchemist

Thanks, Imkwin.

There are a few methods of choosing the sector and industry that contains stocks which have the best chance of increasing in price.

Which method do you use?

lmkwin

Good question. I'm a bit of a heretic in that I don't bother with it. Some take a top down approach. Market, Sector, Industry, Stock. I don't. My approach, which I've outlined on prior posts, is to look for certain situations on a Point and Figure chart and then analyze the stock. The patterns and methods I choose are not designed for trading, but instead designed for patient long term investing. Patience is the hard part in most systems.

lmkwin

ChartSchool article on a method of prominence. You'd have to tweak to get down to industry and stock, but, it's got a proven backtest and is logical.

https://school.stockcharts.com/doku.php?id=trading_strategies:sector_rotation_roc