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can anyone tell me what i have done wrong on this scan, am i mixing apples and oranges

ablueboy
ablueboy ✭
edited May 2021 in Scanning
[[exchange is NYSE] or [exchange is Nasdaq]]
//[[group is SP400]
//or [group is SP500]
//or [group is SP600]]
and [country is US]
and [Volume > 300,000]
and [daily sma(20,daily volume)*1.4 < volume]

and [Low > 10]
and [High < 36]
and [PctRelative(20,$SPX) >9]
and [PctRelative(20,$SECTOR) >9]
and [PctRelative(20,$INDUSTRY) >9]


rank by PctRelative(20,$INDUSTRY) //ranking can be done with $SPX or $SECTOR or $INDUSTRY

Best Answers

  • markd
    markd mod
    edited May 2021 Answer ✓
    As @lmkwin says, the scan looks fine.

    You are choosing stocks that trade on NYSE and NASD, and then comparing each stock's performance to the large cap index (whether or not the stock is in the index or even a large cap) and also each stock's performance relative to its own sector and its own industry. The SP500 is as good a standard as any. But you could search the symbol library for "total market" to find alternatives if you think it would help.

    I believe the index used for sector ($SECTOR) is the sector etf - e.g. for energy it would XLE. I think stocks in these etfs are from the SP500, 400 and 600.

    For industries, I believe the index used is the corresponding $DJUSxx index - e.g. for Integrated Oil and Gas it would $DJUSOL. As far as I know, stocks in these indexes are not limited to sp index membership.

  • ablueboy
    ablueboy ✭
    Answer ✓
    thank you Imkwin and markd

Answers

  • lmkwin
    lmkwin ✭✭
    edited May 2021
    What issue are you having?

    The scan looks like it's returning results that match up with your requirements.

    Country requirement is unnecessary as you are specifying US exchanges.
  • ablueboy
    ablueboy ✭
    can i use the exchanges NYSE and Nasdaq, and then compare them to PctRelative on $spx,$sector,$industry as i have? or would there be a better alternative.

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