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Has anyone used Scan using hourly candles?

Havn't had any luck. But thought if there is a way to do that...

This is what I write and it doesn't seem to work..

[Hourly MACD Signal(12,26,9) < -1.0]

Best Answers

  • gordgord admin
    Accepted Answer
    Time frames used in the scan engine are daily, weekly or monthly. You can't use intra-day time frames.
  • KevoKevo
    Accepted Answer
    The intraday, like hourly, scan question gets asked on this forum occasionally.

    Here is an idea on why we do not have it. To my knowledge the scan engine is a separate server. Adding intraday data for 50,000 symbols is a ton of data! It means changes to performance capacity, server capacity, storage capacity, and maybe some design changes. Obstacles I think would be loading the data and then maintaining it from then on (saw this on some post). I believe the charting servers store intraday data.

    I had a couple of questions about intraday scans that I think I figured the answer to. The first is: limit intraday scans to only hourly bars. This argument could be a can of worms because why would you go through all the trouble of providing intraday scan data, if you are only going to limit it to one period?

    Another question I had was: why not limit intraday scans to only the current day, and not allow intraday backtesting. The problem with this argument is that you still need a good 6 months to a year of historical intraday data to get good results for only the current day. So this argument falls flat. Lastly, you have to ask: is there enough demand to justify this?
  • markdmarkd mod
    Accepted Answer
    Another problem with intraday scanning is, the data is dynamic. Price and volume are constantly changing as trading occurs. So, by the time results are returned, they are no longer accurate because the data has changed. Imagine the support problems - I scanned for this, but when I looked at the chart...
  • Accepted Answer
    I use the hourly, 30 min and the 15 min time frame because I play the Weekly Options. I use the 15 min and 30 min a day or during expiration to Buy Call or Put Options. That is why it will greatly benefit a lot to be able to scan this time frame.

Answers

  • edited November 2014
    Thank you Gord. Would you be introducing intra-day time frames in scan engines anytime in the future?

    Happy Thanksgiving !!


    Edit Gord: With respect to any changes or new features on the StockCharts site you would have to contact Support directly for that answer. I am not an Admin at StockCharts, I'm just another user who happens to have Admin rights on this user forum.
  • great responses. thank you All..
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