Based on a mean reversion hypothesis with the classic RSI 2 periods, this stock screener will fetch and find stocks that are in a long term trend and with sufficient Volumes.
The RSI 2 periods with oversold criteria (RSI is below 10) should give a good opportunity to set long order.
//PRC_DeepOversold TrendingStock | screener
//15.01.18
//Nicolas @ www.prorealcode.com
//Sharing ProRealTime knowledge
//translated from AFL code
ProfitSer = ROC[1](Close)
ProfitSMA = average[100](ProfitSer)
sqn = sqrt(100) * ProfitSMA / StD[100](ProfitSer)
Filter = RSI[2] < 10 AND sqn >= 2.5 AND Average[52](Close*Volume) > 3000000
screener [Filter]
Hello Nicolas, Nice screener, I appreciate the way you always try to condense at maximum the code you propose. Why do not use the Stochastic in this case? (in another way, for which reasons did you choose the RSI)? Thanks