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Ranking scan results by strength
I am looking to scan for ROC (and a couple of other indicators that do not use averages). For example, I can start with scan for stocks whose ROC(12) crosses above 0.
I want to sort/rank the results by strength of move. To normalize across different stocks with different absolute price increases, I would need to use a % change.
I think ROC uses price rise over time (not %price rise over time)
SCTR might be a normalized way when used with ROC.
The best I can come up with is ROC of SCTR, i.e. ROC(12, SCTR). Would that work?
Is there a better way?
I think PPO might be another way (i.e. scan for PPO change but it too is based on averages which I am trying to avoid).
Fyi, just found out about this site and joined today.
Thanks in advance for any help