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scanning on different timeframe

40Flax
40Flax ✭
in Scanning
Hello,

I am hitting a wall !! how do you scan per timeframe. Each time frame give different results.

For example, a MACD cross or STO moving above 20, would be different if it is weekly, daily and 60mm chart.
The below would be a for daily cross: [Slow Stoch %K(14,3) x 20.0] – How can I scan for 60mm chart. I am not looking at scanning intraday but only 60mm at the end of the day.

Thanks a lot.
T

Comments

  • markd
    markd mod
    The scan engine only works with daily data and higher. So you can't scan for hourly, 15 min, 10 min, etc. data even when the market is closed.

    The default time frame is daily.

    So, if you write

    and [sma(10, close) x sma(50, close)]

    you will get a result for daily data.


    If you want weekly data you would write

    and [weekly sma(10, weekly close) x weekly sma(50, weekly close)]

    So for weekly data, you have to put the modifier "weeklY" in front of everything that has a time frame - in this case, both "sma" and "close".


    The results for each time frame will be very different because the data is different. If you have a daily indicator looking at 10 weeks of closes, the calculation will use 50 data points (5 days x 10 weeks). If you use the same indicator, but in a weekly time frame, also looking at 10 weeks of closes, the calculation will use only 10 data points (just the Friday closes). The results will normally be similar but almost never identical.


  • 40Flax
    40Flax ✭
    Thanks a lot for your help. Much appreciated
  • IND
    IND ✭
    Hi Mark. Can you clarify something for me please. Is the expression [sma(20,close) > 10] the same as [daily sma(20, daily close) > 10] ? I haven't found any examples that clarify this. Thanks
  • markd
    markd mod
    Yes, your two expressions are equivalent. You can always include the modifier daily if it helps with clarity when you are writing a scan, but it's not necessary, since the scan engine assumes daily if no modifier is specified.
  • IND
    IND ✭
    Thank you.

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