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this is my first question, I need help in scanning the stock for the following setup.
I am interested in uptrend stocks for last 3 to 4 months and recently dropped for last 3 to 4 days. I am using keltners setup for trades
any help is appreciated
[group is sp500]
and [max(20, Slow Stoch %K (21,1)) > 80]
and [close < 1 day ago close]
and [yesterday's close < 2 days ago close]
and [2 days ago close < 3 days ago close]
the second line says, price was at the top 80% of it's 21 day range within the last 20 days. You can mess around with those parameters to get situations you like.
If you are looking for a specific pattern of closes, the lines below that should get what you asked for; you can extend it to a fourth or fifth, etc. day, too.
If you don't care about a specific pattern, and just want a general decline, you could substitute
and [min(5, Slow Stoch %K (21,1)) < 20]
that just says, within the last five days the close was in the lower 20% of it's 21 day range. Often, when the market is generally rising, the monthly low (21 day low), or somewhere near it, is a reversal area.
You can still use the Keltner channels for setups. Just have a chart style set up for that and apply it to the scan results. You should also have a chart style (it could be temporary) that verifies your scan results(so for this scan have a style that includes Slow Stoch (21,1), or whatever parameters you settle on for your version).
thanks for your help let me try it
here is what i came up with
but not getting uptrend for last few months
[type = stock] AND [country = US]and [exchange = nasdaq] or [exchange = nyse] AND [Daily SMA(10,Daily Volume) > 200000] AND [Yesterday's Daily Close < 2 days ago Daily Close] AND [Yesterday's Daily Close < Yesterday's Daily Lower Kelt Chan(20,2.0,10)] AND [Daily Close >= Daily Lower Kelt Chan(20,2.0,10)] AND [2 days ago Daily Close < 3 days ago Daily Close] and [close > 1.00] and [close < 10.00] and [today's volume > yesterday's volume]