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Scan for ETFs that are 10% below their 52 week high

mbaina
mbaina ✭
in Scanning
Hello, new here so please excuse me if this has been covered. I'm trying to create a scan that will show ETFs that are trading 10% below their 52 week highs.
Any help will be greatly appreciated.
Thank you.

Answers

  • markd
    markd mod
    First step is select the ETF group from the Indexes and ETFs drop down.

    The 52 week high can be expressed as "weekly max(52, weekly high)"

    Then, you don't really want to ask for exactly 10% below the 52 week high because the scan engine would calculate that to the penny, and what are the chances anything is trading at exactly some percent from something else.

    So, you want to ask for a range, a little above 10% and a little below 10%, say between 11% below and 9% below. Another way to say that is between 89 and 91 per cent of the 52 week high.

    So, putting that together, you want .89 * weekly max(52, weekly high), and .91 * weekly max(52, weekly high).

    And in scan language, you need the brackets, etc. so,

    [group is ETF]
    and [ close > .89 * etc]
    and [close < .91 * etc]

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