Monthly screening by using weekly candlesticks

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  • 12/29/2019 at 8:41 PM #115590 quote
    Henchey
    Participant
    Junior

    Hello, if you could help on this I’d be grateful:

    I know its not possible to screen on the monthly timeframe but could I screen through the weekly timeframe as an alternative?

    For instance would it be possible to screen for a declining price over the weekly periods that correspond to 3 monthly candles?

    For instance a lookback of  20 weeks to 17 weeks on the weekly chart (corresponds to the August monthly candle (at time of writing)), and so on.

    I’m trying to use the weekly timeframe to find three monthly declining price candles followed by a monthly candle closing higher. Hopefully that makes some sense…

    c1 = (open[20] > close[17])
c2 = (open[16] > close[12])
c3 = (open[11] > close[8])
c4 = (open[7] < close[4])
    01/05/2020 at 4:32 PM #115940 quote
    Nicolas
    Keymaster
    Master

    That’s an idea, is it working properly?

    01/08/2020 at 4:43 PM #116227 quote
    Henchey
    Participant
    Junior

    Hi Nicolas

     

    Thanks for getting back. The initial effort to try and use weekly candles to represent a three/ four monthly pattern didn’t seem to work. I couldn’t get three consecutive lower closes on the weekly candles, not sure why this is as that part seemed the most basic.

    01/09/2020 at 10:06 AM #116280 quote
    Nicolas
    Keymaster
    Master

    Something like:

    if month<>month[1] then 
if close[1]<last then 
count=count+1
else
count=0
endif
last=open
endif

screener[count=3](count)

    Should work on a daily timeframe screener.

    01/27/2020 at 9:27 PM #118081 quote
    Henchey
    Participant
    Junior

    Thanks Nicolas, that seems to work much better than my attempt

    Cheers

    Pete

    01/27/2020 at 9:59 PM #118085 quote
    Henchey
    Participant
    Junior

    Nicolas, is there a means to add in screening for stocks close to a major support line?

    Thanks

    Pete

    01/28/2020 at 9:14 AM #118107 quote
    Nicolas
    Keymaster
    Master

    How would you define a major support line please?

    01/28/2020 at 5:15 PM #118168 quote
    Henchey
    Participant
    Junior

    That’s a good question!

    I think thats a challenge as I had hoped I could of used the ‘assisted creation’ mode in pro screener to select the on-chart support lines and add a condition of price crossing it etc.

    But not sure if its possible to code in where a support might be?

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Monthly screening by using weekly candlesticks


ProScreener: Market Scanners & Detection

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Henchey @henchey Participant
Summary

This topic contains 7 replies,
has 2 voices, and was last updated by Henchey
6 years, 1 month ago.

Topic Details
Forum: ProScreener: Market Scanners & Detection
Language: English
Started: 12/29/2019
Status: Active
Attachments: No files
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