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Scan - ADX index and and DI+ > DI-

dryan3dryan3 ✭
in Scanning
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

Comments

  • markdmarkd mod
    Seems pretty straightforward. If you like, you could post what you have and we can tweak it if necessary.
  • dryan3dryan3 ✭
    // 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 !
  • markdmarkd mod
    edited April 2016
    //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.
  • dryan3dryan3 ✭
    Thank you.
    Much appreciated
  • dryan3dryan3 ✭
    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]
  • dryan3dryan3 ✭
    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]
  • markdmarkd mod
    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.

  • dryan3dryan3 ✭
    Thank you markd
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