Screener for pullback swing trading

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  • 05/08/2017 at 9:34 PM #34872 quote
    Niall01
    Participant
    New

    Hi All,

    I’m hoping to get some help in coding a screener for a basic strategy:

    • Find a stock/ currency pair that has reached a new 40 day high
    • The next three days should have lower closing prices i.e day 1 close lower than 40 day high; day two close lower than day 1 close etc
    • On the fourth day the closing price must close higher than the closing price on the third day and must close within the upper 20% of the daily trading range

    This is a “long” strategy. “Short” would just be reversed.

    I’m happy fro this to be shared in the community if it proves valuable

    Thanks for any help.

    -N

    05/09/2017 at 11:32 AM #34920 quote
    Nicolas
    Keymaster
    Master

    Hi Niall,

    This is a first attempt, not sure if it suits correctly your query, please make tests and give feedback. Many thanks.

    //Find a stock/ currency pair that has reached a new 40 day high
c1 = high[4]=highest[40](high)[4]

//The next three days should have lower closing prices i.e day 1 close lower than 40 day high; day two close lower than day 1 close etc
c2 = summation[3](close<close[1])[1]=3

//On the fourth day the closing price must close higher than the closing price on the third day and must close within the upper 20% of the daily trading range
c3 = close>close[1] and (close-low)/range>0.8

screener [c1 and c2 and c3]
    manel thanked this post
    pullback-swing-trading-screener.png pullback-swing-trading-screener.png
    05/10/2017 at 8:59 AM #35005 quote
    Niall01
    Participant
    New

    Hi Nicholas,

    Thank you very much for this. I’ve run it through a variety of exchanges that ProReal Time Offer and found some ideal candidates. I’ll tweak a bit of the code and see if I can get a screen for shorts too.

    best wishes,

     

    Niall

    05/10/2017 at 9:45 AM #35016 quote
    Nicolas
    Keymaster
    Master

    ooh ok. Please share your code here for the benefit of everyone and to complete the topic with a “global” screener code (long/short).

    05/17/2017 at 9:44 PM #35901 quote
    Niall01
    Participant
    New

    Hi All,

    Been busy with my day job so apologies if this is a bit late. This is what I’ve got for shorts:

    //Find a stock/ currency pair that has reached a new 40 day low
    c1 = low[4]=lowest[40](low)[4]
    //The next three days should have higher closing prices i.e day 1 close higher than 40 day low; day two close higher than day 1 close etc
    c2 = summation[3](close>close[1])[1]=3
    //On the fourth day the closing price must close lower than the closing price on the third day and must close within the upper 20% of the daily trading range
    c3 = close<close[1] and (close–low)/range>0.8
    screener [c1 and c2 and c3]
    Rules:
    Short
    Place an entry  0.03 pips/ ticks below the lowest price traded on day four, the day the instrument turned back around and traded to the downside.  Place a stop loss  0.03 cents above the highest high reached on the third day, two days before your entry, the pivot high point.
    Long
    Place an entry  0.03 pips/ ticks above the highest price traded on day four, the day the instrument  traded to the upside.  Place a stop loss  0.03 cents below the lowest low reached on the third day, two days before your entry, the pivot low point.
    Hope that’s of use.
    Niall01
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Screener for pullback swing trading


ProScreener: Market Scanners & Detection

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Niall01 @niall01 Participant
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This topic contains 4 replies,
has 2 voices, and was last updated by Niall01
8 years, 9 months ago.

Topic Details
Forum: ProScreener: Market Scanners & Detection
Language: English
Started: 05/08/2017
Status: Active
Attachments: 1 files
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