Mutual Fund Scan Query

Pendan

I am attempting a scan for mutual funds that meet the following criteria:
1. Currently shows a positive MACD signal
2. Currently RSI14 is over 60
3. Maximum Draw Down is less than 1.00% over past 6 mos

An assist would be most appreciated.
Thank You,
Pendan
F.N. MDD less than 1.00% you ask? It is primarily Fixed Income Funds that I have an interest in.....

markd

[type is fund]
and [name CONTAINS 'Fixed Income']
and [MACD Line(12,26,9) > MACD Signal(12,26,9)]
and [RSI(14) > 60]

MDD is not an available function on Stockcharts. You might be able to figure something out with MACD Hist and custom parameters, but, since the scan above yields only 17 hits, it would be faster to inspect the hit list by eye to find the optimal choices.

Pendan

Tnx markd for the heads up,
Since MDD is not available, can you suggest a substitute parameter or metric, written in scan terminology, to scan for very low volatility?
Most appreciated,
Pendan

markd

This is one possibility. It looks for no 12 day negative rate of change in the last year.

and [min(251,ROC(12))> 0]

Another possibility is

and [min(251, PPO Hist(12,26,9)) > -1]

It looks for symbols with no instance in the last year where PPO Line dropped below PPO Signal by more the 1 per cent. Note that doesn't mean the price never dropped more than 1 per cent. PPO is the normalized version of MACD (normalized means values are expressed as a per cent). MACD Line is the difference between two moving averages. MACD Signal is an average of MACD Line.

You can play with any of the parameters (min, ROC, PPO) and/or constants (0, -1) to find more suitable results (keeping in mind that, as the markets change the results will vary; what works today may not tomorrow).

These suggestions assume you mean by low volatility that drawdowns are low, not necessarily gains. If you wanted to limit upside results, you would use max( ) and adjust the parameters, comparison operators (>, <)and the constants to suit.