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Higher highs followed by a price dip
Further to a question I asked previously.
Is there an existing built in advanced scan that monitors stocks that have steadily risen over a 126 trading day period (higher highs and higher lows) and, this is the new part of the same question, are presently experiencing a dip or higher low in their stock price?
Any assistance is appreciated!
Happy New Year,
The answer to the previous question by Mark D. is below:
[ema(200, close) > 126 days ago ema(200, close)]
and [min(200, PPO Hist(10,200,0)) > 10]
You get more hits if you set PPO Hist to less than 10, fewer above 10. Below 10 there is also more volatility, because the 10 ema gets closer to the 200.
You can use other short emas instead of 10 (20, 30, 50, maybe) to see how the results differ.
Note the zero line (on the PPO indicator on the chart) represents the 10 ema equal to 200 ema. You can see this if you add the two emas to your chart style. When the Hist bar is above 0, the 10 is above the 200 and vice versa. Make sure you use emas and not smas.
126 days is 6 trading months assuming an average 21 trading days per month.