ZLEMA screener doesnt work

• 01/22/2021 at 3:09 PM #158919
  Erem

  ZLEMA doesnt screen

  indicator1 = ZLEMA[233](close) c1 = (close) < (indicator1) SCREENER[c1] ((close/DClose(1)-1)*100 AS "% verandering vanaf yesterday")

  1 2 3 4

  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.

  

  Erem

  Participant

  Topics: 2

  Replies: 5

  Been thanked: 1 time
  01/22/2021 at 3:56 PM #158925
  robertogozzi

  Which TF are you using?

   

  

  robertogozzi

  Moderator

  Topics: 69

  Replies: 16469

  Been thanked: 3643 times
  01/22/2021 at 4:15 PM #158927
  robertogozzi

  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.

   

  

  robertogozzi

  Moderator

  Topics: 69

  Replies: 16469

  Been thanked: 3643 times
  01/23/2021 at 4:15 PM #159077
  Erem

  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.

  

  Erem

  Participant

  Topics: 2

  Replies: 5

  Been thanked: 1 time
  01/23/2021 at 4:52 PM #159093
  robertogozzi

  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.

   

  

  robertogozzi

  Moderator

  Topics: 69

  Replies: 16469

  Been thanked: 3643 times
  01/23/2021 at 5:51 PM #159109
  Erem

  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?

  

  Erem

  Participant

  Topics: 2

  Replies: 5

  Been thanked: 1 time
  01/23/2021 at 6:08 PM #159116
  robertogozzi

  I can’t understand what you mean.

   

  

  robertogozzi

  Moderator

  Topics: 69

  Replies: 16469

  Been thanked: 3643 times
• Author
  Posts