How to program a new screener?
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Hi all,
I would like to create a screener that selects stocks between the most recent support and resistance levels, such that the price is still somewhat away from the point at which the price changes direction. So the share price is between the most recent top and bottom in the chart. The attachment shows what I mean. No use is made of MAs or the like. The screener should work in both a bull and a bear market, although this can also be split into two Screeners. Furthermore, the Screener(s) must work with both a daily and an hourly time frame. Problem is that I don’t know how to program that in Proscreener. Can anyone give me some good ideas?
This is the indicator showing Support and Resistance levels:
DEFPARAM CalculateOnLastBars = 1000 PivotBAR = 2 //2 bars AFTER pivot LookBack = 4 //4 bars BEFORE pivot BarLookBack = PivotBAR + 1 IF low[PivotBAR] < lowest[LookBack](low)[BarLookBack] THEN IF low[PivotBAR] = lowest[BarLookBack](low) THEN MySupport = BarIndex - PivotBAR SupportPrice = low[PivotBAR] ENDIF ENDIF IF high[PivotBAR] > highest[LookBack](high)[BarLookBack] THEN IF high[PivotBAR] = highest[BarLookBack](high) THEN MyResistance = BarIndex - PivotBAR ResistancePrice = high[PivotBAR] ENDIF ENDIF DRAWSEGMENT(MyResistance,ResistancePrice,BarIndex,ResistancePrice) COLOURED(255,0,0,255) DRAWSEGMENT(MySupport,SupportPrice,BarIndex,SupportPrice) COLOURED(0,128,0,255) RETURNand this is the screener to scan the market:
PivotBAR = 2 //2 bars AFTER pivot LookBack = 4 //4 bars BEFORE pivot BarLookBack = PivotBAR + 1 IF low[PivotBAR] < lowest[LookBack](low)[BarLookBack] THEN IF low[PivotBAR] = lowest[BarLookBack](low) THEN MySupport = BarIndex - PivotBAR ENDIF ENDIF IF high[PivotBAR] > highest[LookBack](high)[BarLookBack] THEN IF high[PivotBAR] = highest[BarLookBack](high) THEN MyResistance = BarIndex - PivotBAR ENDIF ENDIF Cond = (low >= MySupport) AND (high <= MyResistance) SCREENER[Cond AND (high <> low)]you can use it on any timeframe of your choice. You can make duplicates of it and run it simulaneously (provided this is supported by your platform) on different TFs.
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Topic Details
| Forum: | ProScreener: Market Scanners & Detection |
| Language: | English |
| Started: | 08/17/2024 |
| Status: | Active |
| Attachments: | 2 files |
