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Scanning for Weekly or Monthly MACD

DFHartmanDFHartman
edited February 2015 in Scanning
Is it possible to scan in other time frames than daily, I.e. Monthly or weekly macs line is positive.

Note from Gord; I moved your question over to the main forum Discussion / Question page so other users will see it. The Activity page is just a page which shows the sign up of new members and badges, no one really monitors messages posted there. Best to put them in the appropriate category on the main page.

Best Answers

  • gordgord admin
    edited February 2015 Accepted Answer
    DFHartman, Yes you can do this easily in the Advanced Scan engine, the coding would be as follows.

    Daily:
    and [todays MACD(12,26,9) > 0]

    Weekly:
    and [Weekly MACD(12,26,9) > 0]

    Monthly:
    and [Monthly MACD(12,26,9) > 0]

    Note: the scan engine live database contains 2500 days of data, which is 120 Months of data. Thus monthly SMA's can be calculated up to 120 but monthly EMA's should be limited to less than 30 months as more data is required to establish the starting point of the first EMA point.
  • gordgord admin
    edited February 2015 Accepted Answer
    William_Vanderland, The short answer is no. You can scan for Daily, Weekly or Monthly data.

    The longer answer is, the scan engine live database contains 2500 days of daily OHLC & Vol data. With that data it can calculate daily scans over 2500 days, Weekly scans over 500 weeks, or Monthly scans over approx 120 Months.

    Note: Calculations can be limited by the database, ie you could calculate a Monthly SMA of 120 months, but an EMA needs more data to determine the starting point, thus Monthly EMA's should be limited to approx 30 Months for fairly good accuracy.

    For the scan engine to perform intra-day scans it would have to have additional live databases going back enough periods to make it useful. Each time frame would require another base, 60, 30, 15, 10, 5, 1 etc.. and each base requires additional hardware and processing power.

Answers

  • And the same question only regarding 60 min data? Specifically "Is it possible to scan in a 60 minute time frame"?
  • No, daily is the lowest time frame on the scan engine.

    If you scan intraday for daily values, it will treat the most current update during the day as today's close. But it does not look at a database of hourly data, or five or ten, etc. minute data to calculate intraday values for prices or indicators.
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