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Best solution to capturing quarterly data?

tempestlighttempestlight ✭
in Scanning
I want to try and scan for stocks hitting a RSI of 30 on the quarterly charts through scanning. Any thoughts on what might be the best approach? I'm thinking of maybe scanning for long drawn drops on the monthly and then checking if the quarterly has hit RSI 30 from there but wondering if maybe there's a more accurate approach to this?

See below for an example, quarterly RSI is at 30


Comments

  • markdmarkd mod
    The RSI look back on the quarterly chart is 9, so on the monthly you would be looking at 27 months.

    Fast Stochastics with "1" as the second parameter tells you where the current close is in relation to the range of the look back period. If RSI is low, the Fast Stoch should be low as well.

    You could start with assuming they are identical

    and [monthly Fast Stoch %K(27,1) < 30]

    and then adjust it to get what you want on the quarterly chart.

    Or you could do a "min" version for stocks that have been there but recovered:

    and [min(10, monthly Fast Stoch %K(27,1)) < 30]

    So also play around with the min 10.
  • tempestlighttempestlight ✭
    edited November 2022
    Thanks! I tried and [monthly Fast Stoch %K(27,1) < 30]

    but it didn't seem to pull out any quarterly RSIs below 30 for some reason
  • lmkwinlmkwin ✭✭
    edited November 2022
    Looking at your CS RSI panel on the quarterly chart


    and comparing it to the RSI panel on a monthly chart



    It appears to get in the ballpark in the 7-12 range.

    I don't have access to the quarterly charts to delve into it at all, but perhaps scan for monthly RSI(12) < 30 and see if that gets you close. RSI is basically an Up/Down counter of momentum, so maybe explore the Count Up and Count Down filters as well. Monthly count down 12 > 9 or something like that. Those moves to extremes on the quarterly were reflections of extreme monthly activity.

    I might also suggest flipping the MACD to PPO. PPO is much better at showing activity on short and long term charts, in my opinion.
  • markdmarkd mod
    I tried 10 and got two - LUMN and FIS.

    CS has Fast K around 6, so you might try even lower than 10.

    Apparently getting a low RSI requires a longish steady decline with closes near the lows. A lot of stocks seem to have a shorter, sharper or more variable decline than needed to get RSI below 30.

  • lmkwinlmkwin ✭✭
    To get the RSI to move significantly you need an acceleration. RSI is a momentum counter. Similar to moving averages, if the numbers dropping off are showing less momentum in the direction of the trend than the ones that are coming on, the indicator moves more. That's why they say that over 70 is overbought (high momentum up), and under 30 is oversold (high momentum down). "Normal" reading (not enough momentum in one direction of the other) lies somewhere in the middle of the two.

  • tempestlighttempestlight ✭
    Thanks guys! I found something like this produced pretty good results so far:

    and [close > 1]
    and [140 months ago monthly Close > 0.01]


    and [monthly min(4,monthly low) = monthly min(72,monthly low)]
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