This ProBuilder code snippet demonstrates how to use the `EQUITYFRAME` function for cross-instrument analysis, specifically to screen a single stock based on its price movements relative to its moving averages across different timeframes.
EQUITYFRAME("NASDAQ","AAPL")
timeframe(30 minutes)
c = close
equityframe(default)
mnn= Close CROSSES OVER Average[4](close) and average[4]> average[20]
myShare = close=c //identify AAPL as the current stock
Screener [mnn and myShare](c)
Explanation of the Code:
- EQUITYFRAME(“NASDAQ”,”AAPL”): This function is used to fetch data for the Apple Inc. stock listed on NASDAQ. It sets the context for the subsequent calculations to this specific stock.
- timeframe(30 minutes): Sets the timeframe for the data to 30 minutes. This means all calculations following this statement will use 30-minute interval data.
- c = close: Assigns the closing price of the stock to the variable c.
- equityframe(default): Resets the data context to the default, typically the primary instrument of the screener or chart.
- mnn= Close CROSSES OVER Average[4](close) and average[4] > average[20]: Defines a condition mnn where the current close price crosses over the 4-period moving average of close prices, and this 4-period average is greater than the 20-period average. This is typically a bullish signal.
- myShare = close=c: A condition to ensure that the calculations are specifically for the Apple Inc. stock, by comparing the close price with itself, effectively confirming the focus on the intended stock.
- Screener [mnn and myShare](c): Applies the screener conditions defined in mnn and myShare. The screener will return results where both conditions are true, focusing on the price c.
This snippet is useful for traders or analysts looking to perform specific technical analysis on a single stock across different data contexts, using ProBuilder’s powerful `EQUITYFRAME` function for comparative analysis.