Scan - ADX index and and DI+ > DI-

dryan3

Good afternoon fellow watchers

I am trying to create a scan whereby
DI+ > DI-
and
The Scan is triggered when the (14 period) ADX is
(i) below the "20" line
(ii) the ADX moves 4 points above its 22 day low

Any help would be greatle appreciated
thank you

markd

Seems pretty straightforward. If you like, you could post what you have and we can tweak it if necessary.

dryan3

// EXCHANGE

[[exchange is NYSE] or [exchange is LSE] or [group is ETF]]

// GROUP

AND [group is not Sp600]
AND [group is not Sp400]
AND [country is not canada]
AND [group is NOT TSE300]




// COUNTRY

and [country is not Canada]

// STARTS/ENDS/CONTAINS

and [market cap > 1000]
AND [Daily SMA(20,Daily Volume) > 40000]
AND [close > 3]

and [today's adx line(14) < 20]
and [5 days ago adx line(14) < 20]
and [1 days ago adx line(14) > 5 days ago adx line(14)]

I then got stuck !

markd

//The Scan is triggered when

//DI+ > DI-
// you can select this from the "Technical Indicators" drop down - Plus DI under ADX Line
and [Plus DI(14) > Minus DI(14)]

// the (14 period) ADX is (i) below the "20" line
and [today's adx line(14) < 20] // correct as you wrote it

//(ii) the ADX moves 4 points above its 22 day low

// these lines are ok, but don't get the 22 day low or the 4 points so I commented them out
//and [5 days ago adx line(14) < 20]
//and [1 days ago adx line(14) > 5 days ago adx line(14)]

and [ADX Line(14) x min(22, ADX Line(14)) + 4]

// end scan

The "x" operator means "cross above". Use the min(x, ...) function to get the lowest value in some period. Max(x, ... ) gets the highest value. The x is any number, the ... is usually some indicator or it could be a price.

dryan3

Thank you.
Much appreciated

dryan3

Hi Markd

thank you for the above,

I have tweaked it for the bear case ... I think the below is correct but welcome your take.
Thank you


[[exchange is NYSE] or [exchange is LSE] or [group is ETF]]

// GROUP

AND [group is not Sp600]
AND [group is not Sp400]
AND [country is not canada]
AND [group is NOT TSE300]




// COUNTRY

and [country is not Canada]

// STARTS/ENDS/CONTAINS

and [market cap > 1000]
AND [Daily SMA(20,Daily Volume) > 40000]
AND [close > 3]


and [Plus DI(14) < Minus DI(14)]


and [ADX Line(14) > 20.0]



and [ADX Line(14) x max(22, ADX Line(14)) + 4]

dryan3

Sorry - an edit to the above

[[exchange is NYSE] or [exchange is LSE] or [group is ETF]]

// GROUP

AND [group is not Sp600]
AND [group is not Sp400]
AND [country is not canada]
AND [group is NOT TSE300]




// COUNTRY

and [country is not Canada]

// STARTS/ENDS/CONTAINS

and [market cap > 1000]
AND [Daily SMA(20,Daily Volume) > 40000]
AND [close > 3]


and [Plus DI(14) < Minus DI(14)]


and [ADX Line(14) < 20.0]



and [ADX Line(14) x min(22, ADX Line(14)) + 4]

markd

So the only change is from Plus > Minus to Plus < Minus.

I think that's right. I don't know if you've found the optimal settings, but the scan is correct.

I ran it and it picks up mostly situations where price is in a down leg.

dryan3

Thank you markd