This stock screener find stocks that are/were in oversold territory by finding if their RSI and Stochastic were below the 30 and 20 percent level within the last “period” (10 days = setting that can be changed in the code).
If the stocks is currently rising from its last bottom and if it was stopped on a ‘sweet spot’ (support levels of any kind), it may be a suitable level to buy the stock. The screener is catching a new momentum rising in the last ‘period’ bars to confirm the beginning of a new bullish momentum.
|
1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 |
//PRC_Oversold and Rising Momentum | screener //19.04.2017 //Nicolas @ www.prorealcode.com //Sharing ProRealTime knowledge myrsi = rsi[14] sto = stochastic[10,3] avgsto = average[6](sto) mom = momentum[10] period=10 c1 = summation[period](myrsi<30)>0 c2 = summation[period](sto<20)>0 c3 = summation[period](sto crosses over avgsto)>0 c4 = summation[period](mom>mom[1])>=0.8*period test = c1 and c2 and c3 and c4 SCREENER [test] (close as "close") |
Share this
No information on this site is investment advice or a solicitation to buy or sell any financial instrument. Past performance is not indicative of future results. Trading may expose you to risk of loss greater than your deposits and is only suitable for experienced investors who have sufficient financial means to bear such risk.
ProRealTime ITF files and other attachments :
Filename : download the ITF files
Find other exclusive trading pro-tools on 
PRC is also on YouTube, subscribe to our channel for exclusive content and tutorials
Thank you Nicolas! Exactly what I was looking for 🙂
How can we have this on overbought?
Thanks in advanced
All conditions under parenthesis for the c1 to c4 conditions should be inverted.
Can you give an example of the overbought codes please? Thanks.
Merci Nicholas -:)