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scan trigger

Hello

I set up an alert when [today's RSI(5) < 40] for a chart-list. But this doesn't catch all stocks in the chart-list when their RSI(5) is below 40. It only triggers for some and miss others.

What I want is when RSI starts to down trend and eventually be alerted when RSI breaks below 40. How can I write a scan for this ? Thanks.

A

Comments

  • I don't use alerts, so this is not from experience, but I am guessing if RSI was already below 40 for some symbols when you set the alert, an alert wouldn't trigger for those symbols. (You would already know it's below 40 by running a regular scan either overnight or intraday, so getting an alert might be annoying for some users.)

    So your alert may be working properly. But, you could try revising the alert to use the crossover operator to see if it makes a difference.

    and [40 x RSI(5)]

    Literally that says 40 crosses above RSI, but that is the equivalent of RSI crossing below 40.


  • lmkwinlmkwin ✭✭
    Do you have an example or two of the ones that it missed? Also, is that the extent of your alert code,

    [My list #1] and [today's RSI(5) < 40]?

    I do use Alerts. But I'm more of a cross type, Today it's this and yesterday it wasn't. Now that they expanded the Alerts, perhaps I'll delve more into the type of thing that you are showing.

    I "test" my Alerts by copying the code into the Scan Workbench and running it to see if it's behaving how I think it should be.
  • TA20TA20
    I didn't keep the ones that miss. Perhaps I shall have.

    Yes, I try to keep the alert code simple with RSI(5) < 40. But not sure why it doesn't always catch all.

    Do you also use the cross type similar to markd suggested ? What do you use so it doesn't miss some ?

    Yes, I also copy code into scan workbench and run it but same thing here that it would miss some as well. Thanks.
  • TA20TA20
    sorry, markd.
    I privately messaged you but I intended to post here instead.
  • lmkwinlmkwin ✭✭
    "What do you use so it doesn't miss some ?"

    Run it in the scan workbench and use the Rank By RSI(5) just using your list.
  • TA20TA20
    Then I will need to run the Rank by RSI(5) manually daily instead of setting up alert ?
  • lmkwinlmkwin ✭✭
    edited May 29
    put it on your scan. You will see the ones that the alert missed. It's just a check or test. You said that it missed some. I'm trying to help you possibly troubleshoot.
  • TA20TA20
    Thanks, Imkwin

    How do I write "Rank by RSI(5)<40" in scan criteria of the scan workbench ?
  • lmkwinlmkwin ✭✭
    A scan's results are listed in alphabetical order. A Rank By statement in the scan will sort the results by the Rank By criteria and add a column to the results with the Rank By information.

    The Rank By must be the last line of the scan code. There can not be an AND or OR in front of it.


    [My list #1]

    Rank by [RSI(5)]


    will sort your list in RSI(5) order. Descending order. If you want the rank by displayed in Ascending order, you just add ascending at the end.

    Rank by [RSI(5)] ascending

    I just suggested this so that you could see your list in this manner and compare it to what is showing in your Alerts.

    You can also go to the CandleGlance View and select the RSI there using the Add Indicator dropdown, and sort it there. The indicator selected will show on your CandleGlance charts with the current value shown on that indicator panel.

    Using the Rank by you can save your list in RSI order if you wanted. You can also change the data date in a scan to look at prior times. CandleGlance is just a current view of the list and you can't save it in that order.
  • TA20TA20
    Thank you, Imkwin
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