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Switched to stockcharts and am impressed.
I've been doing lots of drop and drag scans. Having trouble with custom scans.

Any suggestions and a PPO/ADX pinch (bullish) and a ADX,PPO (bearish) scan? My scans are too wide and the archives are old scans (out of date?). Please advise and thank you in advance.

Best Answers

  • markdmarkd mod
    Answer ✓
    Custom scans require some homework before you can get up to speed. If you haven't done so already, study the instructions link at the bottom of the advanced scan page, look at the pre-defined scans in the advanced scan window (so you see how they are written) and watch the several videos (maybe start with the videos).

    The scans in the archives should still be good.

    If you have some attempted code for your ADX/PPO scans, post it and we'll take a look.
  • markdmarkd mod
    edited July 2015 Answer ✓
    This condition causes zero results (because it's not possible):

    and [ppo line(13,21,8) < ppo line(13,21,8)]

    so it needs to be commented out (note the comment symbols are "//" not "\\") or modified.

    The rest of the code works and gets hits. If you are getting too many valid hits (meaning, setups you intended to get), you might have to restrict the universe further - say to a sector(s) or industry(ies).

    If the hits include price patterns that are not what you expected, then you have to tighten up your conditions. But I'm guessing you knew that and so the question.

    I'm not familiar with PPO/ADX pinch. Could you post an example chart where it works as intended, or describe (in conversational english, not scan code) what is supposed to happen in each indicator?


  • Thank you. Will do.
  • Here is what I have for a PPO ADX squeeze. Any suggestions?

    \\[type is stock] and [sma(20,volume) > 400000]
    and [country is US]
    and [optionable is true]
    and [ppo line(13,21,8) > 1 day ago ppo line(13,21,8)]
    and [1 day ago ppo line(13,21,8) > 2 day ago ppo line(13,21,8)]
    and [2 day ago ppo line(13,21,8) > 3 day ago ppo line(13,21,8)]

    and [ppo line(13,21,8) < ppo line(13,21,8)]
    and [ppo line(13,21,8) > 1 day ago ppo line (13,21,8)]

    and [ADX Line(13) > Minus DI(13) ]
    and [Minus DI(13) > Plus DI(13) ]
    and [ADX Line(13) < 1 day ago ADX Line(13) ]

    Thank you in advance.

  • Mark,

    Like a sandwich, place adx 13 on top and bottom with the PPO 13,21.8 in the middle. The attached chart show the lower adx 13 and the PPO getting close together (the closer the better). This is the time to buy (develop your own entries - easy). Likewise, if the top ADX 13 gets close to the PPO 13.21.13 it is time to sell.

    You can do this on any time frame.

    You can also substitute the PPO with the default settings of the MACD.

    I've also developed a new set up two weeks ago:

    Like a sandwich again, STDDEV (20) (not default) on top and bottom with TSI (25,13,7) in the middle working the same way as ADX13 & PPO 13,21,8.

    Please advise.

    sc.png 22.7K
    sc.png 22.7K
  • markdmarkd mod
    edited July 2015
    I don't think you can scan for those situations because the indicator values will probably vary considerably from issue to issue. But it looks like you just want a steep decline with a turn up at the end. You might be able to get that by comparing a few SMAs or EMAs of varying lengths - for example - test for the 50 less than x days ago (maybe 50 or 60) and the 10 or 15 below the 50 and the 3 or 5 crossing above the 10 or 15. You would have to work out the lengths. Then apply your sandwich indicator style to the results and trash the hits that don't fit (easy to do in candle glance).

    You could also test for where price is within a certain time frame using stochastics. For instance, Fast Stoch %K(63,1) < 20 (not the standard parameters) tells you that price is in the lowest 20 per cent of its range in the last 3 months. Then you could test for x days ago it was > 80. That would tell you there has been a pretty serious decline in the last x days. Again, you would have to play with the parameters.
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