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Various Monthly Technical Scan Questions


I wanted to scan for stocks where Monthly RSI reached an All time high and also for stocks where the Monthly RSI reached an All Time Low.
Also, is there a filter for IPO stocks? (close XX months ago is equal to 0, how do i scan for the condition highlighted) Thank you in advance.

I tried this but received a syntax error
[monthly RSI(14) = monthly max(All Time High, monthly RSI(14))]

Thanks again.


  • Options
    Yes this will give you a syntax error. The first clue is to look at the error, it usually will give you some idea as to the error. Also it helps to understand the format of the function you are using.

    This is the error you are getting.

    "Your scan syntax is incorrect. Could not parse "ALL TIME HIGH" located in the clause "MONTHLY RSI(14) = MONTHLY MAX(ALL TIME HIGH, MONTHLY RSI(14))" (an integer was expected) "

    From the scan documentation on functions.

    Maximum Value (Max)
    The highest value of the expression over the specified time period.

    Max(nPeriod, exp)

    nPeriod - Number of periods
    exp - expression

    [Max(253,close) > 99.9]

    As you can see the function expects to see an integer (the number of periods). I suggest you change "All Time High" to a number, say 36 months.

    [monthly RSI(14) = monthly max(36, monthly RSI(14))]
  • Options
    To answer your second question:

    This was answered here a few weeks ago, but unfortunately, I couldn't find it quickly using the site search.

    I don't know of a built-in IPO scan, but you can improvise.

    The "Past Data" file usually begins with a record with four prices, all the same, and volume is zero. I don't know what the price represents - possibly the opening price on the first day of trading. The "Past Data" file is a link under the chart on the chart workbench. The file is in reverse chronological order, so the most recent record is on top, and the first record (with the zero volume) is at the bottom.

    So, to find the new issues, you would write a scan for volume = zero and set the date back to a date(s) you are interested in.

    Unfortunately, there are quite a few issues that do not trade every day so an unmodified scan would pick those up, too. You might be able to find additional conditions to limit false positives, or you can just put your results in a list and eliminate the false positives in CandleGlance.

    There are many clever Stockcharts users, so maybe they could share another approach that isn't quite so much work.
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