New Members: Be sure to confirm your email address by clicking on the link that was sent to your email inbox. You will not be able to post messages until you click that link.
Need some SCAN Formula help!
I am trying to establish a formula where about Noon each trade day I can determine what stocks are trading in a large range in comparison to what the stocks' current prices are. In plain language it would be: Today's High less Today's Low divided by the Current Price. This is the formula I have developed so far, but I have a problem with ( dividing by the Current Price). Appreciate any help! How do I complete the following equation to divide by the Current Price?
and [Today's High - Today's Low]
[group is sp100] // or whatever universe you want
rank by range/close // a "rank by" statement must always be the last statement in your scan
Another way might be to set ATR > 1 or whatever range makes sense to you and then set an upper and lower limit for stock price. This could be run a few times then with ATR > 2 or 3 with higher stock price ranges.