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Over-extended review

I would like to build a scan to measure :
1. price momentum
2. Breadth characteristics
3. % from mean prices above the moving average
4. the emerging momentum divergence
5. at new high but on lower volatility

I know I am asking too much. I would like to start off with a skeleton of the scans and develop further. Thanks in advance for the feedback.


  • markdmarkd mod
    edited June 18
    Scans don't measure; that is, they don't return numbers. They only return symbols that meet the conditions you specify.

    Usually, the conditions have to do with indicators, like MACD Line above 0, or RSI crossing below 80, or moving averages, etc. But these only apply to individual symbols. The symbols don't have to be stocks - they can be indexes - so if there are symbols that represent market breadth you could scan for those meeting whatever value you want.

    So, for your list above -

    price momentum - if you mean for an individual stock, you would have to choose an indicator that represents momentum and decide what level of momentum interests you

    breadth characteristics - this applies to markets, not individual stocks, but if there is an index you could scan for index values (but why? you can just look at the index).

    % above moving average - this you can do; you just need to choose a moving average and a per cent

    emerging momentum divergence - you would have to choose an indicator and specify what value(s) represent "emerging"

    all new high but lower volatility - you would need to decide on an indicator that represents volatility; also, a new high over what period?
  • Price momentum: Use macd or PMO.

    Market breadth: $NSHL, $NAHL, $AMHL
    I can see Why you would want to use market breadth, it's about who's Leading; the Generals or the Troops. If the Generals are advancing, but the Troops are not onboard with it, it is not as Strong or as Healthy
    Nowadays, everybody's Jumping on the Bandwagon of the same tired old stocks MSFT, NFLX, GOOG, etc. even if your Quarterly net income is complete Garbage like META (facecrook)

    some professionals use McClellan Oscillator
  • Thanks all. I will ride on this to build some works.
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