Author: mds3019
RSI is an indicator that can be sais oversold or overbought, and this may foresee some trend reversals. In this example, we will pick up all the stocks «oversold», considering hourly bars.
«Oversold» is defined by RSI < 30. This is as much significant as the RSI is near of the zero line.
So we will build a screener that returns all the stocks where RSI < 30 and we will keep thoose that have the lowest RSI values.
i=3
rem timeframe(daily)
c1= average[20](volume)>200000
base = dclose(i+1)
timeframe(default)
c2 = close >.531 and close<20
cn =close
c3 = (cn[i]/base)*100>103
criteria = cn[i]/base*100
screener[ c1 and c2 and c3 ] (criteria as"CK")