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Squeeze MACD/ADX

edited October 2014 in Scanning
How do I scan for this condition?
Please view attach file
Your help is greatly appreciated.

Edit Gord: Daniel I moved your question from the "SharpCharts" to the "Scanning" section as it is really a scanning question.

Also to make it easier for users to help you it's best to include a link to the chart in question, I've added that below.

Best Answer

  • Options
    gordgord admin
    Answer ✓
    Yes you are going to have to add a few more lines to narrow the field. Here's the code for the ideas I gave you above. I ran this scan for EOD on April 16th and it did pick up BIIB along with another 100, you would have to review the charts to see whats of interest.

    However don't forget when looking at the charts make sure you you select the end date to line up with when you ran the scan.

    // MACD ADX Squeeze

    [type = Stock]
    and [MACD Hist(12,26,9) > 1 day ago MACD Hist(12,26,9)]
    and [1 day ago MACD Hist(12,26,9) > 2 day ago MACD Hist(12,26,9)]
    and [2 day ago MACD Hist(12,26,9) > 3 day ago MACD Hist(12,26,9)]

    and [MACD Line (12,26,9) < MACD Signal (12,26,9)]
    and [MACD Line (12,26,9) > 1 day ago MACD Line (12,26,9)]

    and [ADX Line(14) > Minus DI(14) ]
    and [Minus DI(14) > Plus DI(14) ]
    and [ADX Line(14) < 1 day ago ADX Line(14) ]


  • Options
    Daniel, can you explain in a little more detail exactly what indicator criteria you are trying to pick up. As ADX(14) > 20 is going to pickup alot of stocks.

    Also what day (after the close), do you want the scan to pick it up on ?
  • Options
    Its best to zoom in on a chart of what you're looking to scan for, with the chart ending on the day that the scan would pick up the stock after the close. This lets you see up close what the indicators are doing and also does not let your mind get swayed by what happened days or weeks later.

    Here are some ideas to help you start your scan investigation.
  • Options
    [[ type = stock] or [ type = index] or [symbol starts with '$']]and [country is US]
    and [Minus DI(14) > Plus DI(14)]
    and [ADX Line(14) > 20.0]
    and [ MACD Signal (12,26,9) > MACD Line (12,26,9)]
    and [optionable is true]
    //This is the scan I started with. Need some improvements if any.
  • Options
    Thanks a lot Gord
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