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Need help with scanning tool - what is the scan code for

"Price is 50% or more below the 52 week high"

Thanks Jon

Best Answer

  • markdmarkd mod
    edited January 2015 Answer ✓
    and [weekly close < weekly max(52,weekly close) *.5]

    or, if you want to run it daily instead of weekly

    and [close < max(251,close) *.5]

    Note: 251 is 52 weeks x 5 days - 9 market holidays.

    Also note, that this will pick up things that are making new 52 week lows, not just things that are near 50% down. If you want to limit the range of results, you can add a another line - for instance:

    and [close > max(251,close)* .4]

    i.e. things down not more than 60%

    If you want to find candidates in the group that might be turning up:

    and [sma(50, close) > 10 days ago sma(50,close)]
    and [sma(50, close) < 30 days ago sma(50,close)]

    You can play with any of the parameters to see what gives you more useful results.


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