ZLEMA screener doesnt work

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  • 01/22/2021 at 3:09 PM #158919 quote
    Erem
    Participant
    New
    indicator1 = ZLEMA[233](close)
c1 = (close) < (indicator1)

SCREENER[c1] ((close/DClose(1)-1)*100 AS "% verandering vanaf yesterday")

    Hi Im new here. Nice place 🙂 I have a question. I have a simple screener in which I want to filter out (close) < ZLEMA [233] However it gives results the outcome is not correct. Any thoughts please? Best, G.

    01/22/2021 at 3:56 PM #158925 quote
    robertogozzi
    Moderator
    Master

    Which TF are you using?

    01/22/2021 at 4:15 PM #158927 quote
    robertogozzi
    Moderator
    Master

    The issue is duer to the fact that it is calculated as:

    n = 116   //(233 – 1) / 2

    zlema = exponentialaverage[233](close – close[116])

    So it exceeds the 254-bar limit of ProScreener.

    Max. allowed for ZLEMA are 169 periods (169 + ((169 – 1) / 2) = 169 + 84 = 253.

    01/23/2021 at 4:15 PM #159077 quote
    Erem
    Participant
    New

    Hi Roberto, thanks for your answer. In the mean time I also discovered the max period of 254 and the implications because of the E of  ZLEMA. So thanks for your confirmation. Now this, I thought to change the EMA part into a SMA of WMA so that the problem doesnt occur. Do you think this can work? Thanks for your reply beforehand. Best, Gökhan.

    01/23/2021 at 4:52 PM #159093 quote
    robertogozzi
    Moderator
    Master

    The limit isn’t due mainly to using an EXPONENTIAL average (it is indeed, slightly), but mostly because of calculations since it multiplies periods by 1.5.

    But you can try making it ZLSMA or ZLWMA to see what you can do.

    01/23/2021 at 5:51 PM #159109 quote
    Erem
    Participant
    New

    Ah of course understood its the 254 limit that doesnt change much with other methods. What does it comprise this rule, can you elaborate please?

    01/23/2021 at 6:08 PM #159116 quote
    robertogozzi
    Moderator
    Master

    I can’t understand what you mean.

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ZLEMA screener doesnt work


ProScreener: Market Scanners & Detection

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Erem @erem Participant
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This topic contains 6 replies,
has 2 voices, and was last updated by robertogozzi
5 years, 1 month ago.

Topic Details
Forum: ProScreener: Market Scanners & Detection
Language: English
Started: 01/22/2021
Status: Active
Attachments: No files
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