Correct Way to Write RATIO such as STOCK_NAME:SPX For Use in Screener?

8Asteroids8

BACKGROUND: at the bottom of the charting styles section, we find "Indicators" in which we can choose "Price". Under "Parameters" column, we can enter a ratio, such as AAPL:SPX to build a ratio line for any other stocks we view in that chart style.

QUESTION: Is there a way to write that ratio so I can use it in a formula to find stocks meeting conditions around that ratio? Example, to search for stocks where STOCK_NAME:SPX, is decreasing?

...thanks in advance.

markd

I wish.

Unfortunately, the short answer to your question is no.

You can simulate it in a round about way. Get the ROC (rate of change) for $SPX for the time frame you are interested in, let's say the last month, or 21 days. So as of 9/17, the ROC(21) was -5.09% (using the ROC(21) indicator on a daily chart of the $SPX).

So your scan statement to catch weaker stocks would be:

and [ROC(21) < -5.09]

You could also rank the results by ROC(21):

rank by ROC(21)

Notice there is no "and" and no brackets "[ ]" for the rank by statement. Also it must be the very last statement in your scan, and you can use only one of them.

You can also download the results into a csv file if that would be helpful.

Not great, I know. Maybe others have found a better way.

8Asteroids8

MARKD: thank you!! I was burning up too many brain cells on this problem. Your ROC suggestion will be very helpful. I can adopt that and back test to get a ROC that comes close to what I need. I'll swing at it a few times. Maybe still hit a home run your way, too. Thanks.