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Slope parameter for $Symbol:$SPX

Towen
Towen ✭
in Scanning
Trying to add "and [Slope(65,'$Symbol:$SPX')>.1]" to a scan. I get the "Scan Syntax is Correct" message but a red/X box to the left of the line stating "slope parameter is invalid". Any assistance on how to correctly enter this line would be greatly appreciated.

Comments

  • lmkwin
    lmkwin ✭✭
    edited October 2022
    '$Symbol:$SPX' isn't a symbol. So it does know that to scan for.

    Also, the apostrophe's at the beginning and the end also are masking the actual issue. If you remove them, the error on the Check Syntax says

    Could not parse "$SYMBOL:$SPX" located in the clause "SLOPE(65,$SYMBOL:$SPX)"

    This is because $Symbol:$SPX isn't a symbol either.


    In scans, RS wise, there is PctRelative that allows you to pick the period you want to look at, and pick the PctRelative symbol, like $SPX and then select a value to look for. If looking at the Slope being Positive, put a positive number in the PctRelative. Like PctRelative(65,$SPX) > 0.1

    It's not exactly the same as Slope 65,$Symbol:$SPX that you can see on a chart but it's about as good as it gets on the Scanner options. PctRelative is in the 1st section of the Technical Indicators dropdown.
  • Towen
    Towen ✭
    Thanks, I was hoping there would be a way the scan could look at the RS of each of the individual stocks in the scan vs. $SPX or $Industry but I guess not. I'm happy with my current Slope parameters in my scans, just hoping to take it to another level....
  • Towen
    Towen ✭
    I can see where PctRelative would work for $SPX but I was really trying to look for concomitant positive slopes for both $SPX and $Industry to cut down on visual review time. I doubted there was a way but knew you'd be able to tell me if there was.

    Thanks again.
  • markd
    markd mod
    If you are scanning lists, you can include $SPX as a symbol (and/or an industry symbol, e.g. $DJUSOL), then rank by Slope. Rank by must be the last statement in your scan. If you want, it can be the only statement after you select the list to rank from the drop down.

    [favorites list is 9]// energy exploration and production (for example)
    rank by Slope(x)


    On the results page, symbols appearing above $SPX and/or $DJUSOL have a higher slope value (the Slope value appears on the results page, but is lost when the results are saved to a list - unless your chart style includes the same Slope as the scan). When you save to a list, check off 'preserve order'.
  • lmkwin
    lmkwin ✭✭
    @Towen $industry and $sector ARE valid symbols to use in the PctRelative.




  • lmkwin
    lmkwin ✭✭
    Another way to create a look at RS is to view one of your existing chartlists in Performance view. They added a RS feature into Performance view, back in Bainbridge release I believe) where you can add a comparison symbol in and it will update your list into a RS view.



    To save and make this RS view into a chartlist, copy this RS Performance view into excel and then take the symbol column and copy and paste that into a new chartlist. DOW 65 list and DOW 65 RS list. Then you can look at the RS list in many of the other view options to see the RS chart / symbol activity.


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