2 consecutive weeks of increasing volume along with bottoming out and increasing Williams%R

diablo4

Markd......this is the scan I put together and it seems to give me the 2 consecutive weeks of volume, but I am not able to pull up the Williams%R bouncing off a -80 level one week and turning upward to a -70 level.....I would appreciate some help.....Thx
[type = stock] AND [Weekly SMA(20,Weekly Volume) > 40000]
and [Volume >300000]
and [High >10]
and [Low< 40]
and [2 week ago Williams %R(14) >-80.0 ]
and [1 week ago Williams %R(14) > -70.0]
// test for consecutive higher volume bars
and [weekly volume> 1 week ago volume]
and [SCTR >75.0]
and [1 week ago volume> 2 weeks ago volume]
and [1 week ago volume > 3 weeks ago volume]

markd

Hi @diablo4 , You have two conditions for Williams:

and [2 week ago Williams %R(14) >-80.0 ]
and [1 week ago Williams %R(14) > -70.0]

If you think about what values satisfy those two conditions, you will begin to see a problem.

Does -50 satisfy > -80 ? Yes.
Does -50 satisfy > -70 ? Yes.

Does 10 satisfy > -80 ? Yes.
Does 10 satisfy > -70 ? Yes.

So really, all you are asking for is a Williams value > -70 (if it's greater than -70, it's also > -80). Williams does not need to have declined at all to satisfy those conditions.

So you need to ask for a Williams value that is LESS than something, so you get a hit where Williams has been down first, before being > -70.

Work on that, and if you don't come up with a way on your own, we'll try again.

Also, if this is a weekly time frame scan, you need to put weekly in front of everything - so for instance,

and [1 week ago weekly Williams%R(14) > -70.0]

Also,

and [weekly volume > 1 week ago weekly volume],

etc.

Also, just for form's sake, it would make sense to move the SCTR condition near the the top of the scan (third line), instead of in the middle of the conditions for volume sequence. It will work where you have it, but it doesn't make logical sense as you read it.