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Writing a scan on Scan workbench

TraderY
TraderY ✭
in Scanning
How to write a scan of a piercing candle signal on a weekly chart on advanced scan workbench? Thank you

Comments

  • markd
    markd mod
    edited August 28
    [exchange is NYSE]
    and [weekly Piercing Line is true]

    You can write most named candle patterns by opening the Candlestick patterns drop down below the scan window. The default time frame is daily, so you have to add the 'weekly' modifier.

    Also, you have to run weekly scans after the Friday close to get accurate results. So, if you are back testing, select Friday dates from the 'Starting x trading days...' calendar.

    It's possible to get zero results (no data available) with a valid scan, if the pattern is not that common. If you're not getting enough results, widen your universe. For instance, if you get no hits from [group is sp500], try [[exchange is NYSE] or [exchange is NASD] ]. That's just about everything. If you get too many junk hits, narrow the universe with some other qualifier(s), like [SCTR > 50] or maybe [market cap > 1000], etc.

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