Beyond charts screener to identify potential stocks to buy

mjharm · 2019-01-21T09:41:40+00:00

To forum users far and wide, I have been using Beyond Charts + with a weekly scan formula to filter out / identify potential stocks to buy within the ASX market / DJIA/ Nasdaq etc. To reduce my trading costs (yearly data subscription) I would like to use the ProReal Time trading platform as I use the IG platform to buy/sell stocks. The formula I use which I apply to a particular market is as follows; ( Go long when price is above X period moving average AND above X period high AND volume has increased by 1.25 times and there is enough liquidity to get into the stock determined by an X average of closing prices over X period of time AND the buy signal only appears on a green candle AND to avoid penny stocks ) close_above_MA: = C>Mov (C,60,E); closeHHV: = C>Ref (HHV(C,25),-1); increase_volume: = V>1.25*Mov (V,12,E); liquidity: = mov (C*V,30,S) > 1000000; signal_on_green: = C>O; no_penny: = C >0.20; no_expensive_stocks:= C<10; buy:= close_above_MA AND closeHHV AND increase_volume AND liquidity AND signal_on_green AND no_penny AND no_expensive_stocks; buy; Hoping this formula will somehow convert into ProTime with a forum users help. Thanking someone in anticipation. mjharm

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01/21/2019 at 10:41 AM #89222 quote

mjharm
Participant

New

To forum users far and wide,

I have been using Beyond Charts + with a weekly scan formula to filter out / identify potential stocks to buy within the ASX market / DJIA/ Nasdaq etc.

To reduce my trading costs (yearly data subscription) I would like to use the ProReal Time trading platform as I use the IG platform to buy/sell stocks.

The formula I use which I apply to a particular market is as follows;

( Go long when price is above X period moving average AND above X period high AND volume has increased by 1.25 times and there is enough liquidity to get into the stock determined by an X average of closing prices over X period of time AND the buy signal only appears on a green candle AND to avoid penny stocks )

close_above_MA: = C>Mov (C,60,E);

closeHHV: = C>Ref (HHV(C,25),-1);

increase_volume: = V>1.25*Mov (V,12,E);

liquidity: = mov (C*V,30,S) > 1000000;

signal_on_green: = C>O;

no_penny: = C >0.20;

no_expensive_stocks:= C<10;

buy:= close_above_MA AND closeHHV AND increase_volume AND liquidity AND signal_on_green AND no_penny AND no_expensive_stocks;

buy;

Hoping this formula will somehow convert into ProTime with a forum users help.

Thanking someone in anticipation.

mjharm

01/21/2019 at 11:12 AM #89224 quote
Nicolas
Keymaster

Legend
Here is the code translated to ProScreener:
```
c=close
v=volume
closeaboveMA = C>exponentialaverage[60]
closeHHV = C>highest[25](high)[1]
increasevolume = V>1.25*exponentialaverage[12](v)
liquidity = average[30](c*v) > 1000000
signalongreen = C>open
nopenny = C >0.20
noexpensivestocks= C<10

test= closeaboveMA AND closeHHV AND increasevolume AND liquidity AND signalongreen AND nopenny AND noexpensivestocks

screener[test]
```
How do you enter in the market once you have sorted the stocks regarding this screener? I’m sure that it would be of interested for our community members! 😉

mjharm thanked this post
01/21/2019 at 4:15 PM #89259 quote

Vonasi
Moderator

Master

Topic moved to ProScreener forum. Please try to post in the correct forum with any future topics. 🙂

mjharm thanked this post

01/22/2019 at 8:53 AM #89306 quote

mjharm
Participant

New

Hi Nicolas,

Thank you very much for the code conversion to PRT – much appreciated.

Once I get a list of stocks as presented by the scan of the market, e.g. ASX, I then eyeball each stock and look for recent support/ resistance and potentially identify if stock is going into stage 2 (Stan Weinstein book ‘ Secrets for Profiting in Bull and Bear Markets’).

If meets criteria I will buy with a stop loss in place.

Kind regards

mjharm

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Beyond charts screener to identify potential stocks to buy

ProScreener: Market Scanners & Detection

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This topic contains 3 replies,
has 3 voices, and was last updated by mjharm
7 years, 9 months ago.

Topic Details

Forum:	ProScreener: Market Scanners & Detection
Language:	English
Started:	01/21/2019
Status:	Active
Attachments:	No files