StockFetcher Forums · Filter Exchange · 8EMA 10 Percent or more below 34EMA<< >>Post Follow-up
11 posts
msg #121727
Ignore nsusa
10/15/2014 8:34:21 PM

I am looking for a certain scan where I can find stocks that show a certain chart pattern. To be specific the stock should be in a down trend and preferably I would want a certain difference between the T-Line (8EMA) and the 34EMA. I found this code, but do not know how to add the difference requirement to the mix. I am looking for stocks where 8EMA is at least 10% or more below the 34EMA.

EMA(8) below EMA(21)
EMA(21) below EMA(34)
EMA(34) below MA(50)
MA(50) below MA(200)
close 1 day ago is above the 8 EMA
high reached a new 1 day high
high reached a new 2 day high

4,372 posts
msg #121729
Ignore four
10/15/2014 9:32:50 PM

set{x, ema(8) / ema(34)}
draw x line at .90
draw ema(8)
draw ema(34)

x < .90
low > 11
average volume(10) 1 day ago > 123123

11 posts
msg #121730
Ignore nsusa
10/15/2014 11:16:00 PM

Thank you. Kind of going into the right direction. I added this to have the close above the T-Line:

Close above ema(8)

A few false positives in there. As an example VXX closed above the 8EMA and above the 34EMA while 34EMA is below the 8EMA. So, I added this:

Close below ema(34)

Seems like this is close to what I was looking for. I really appreciate your help. Thank you.

4,372 posts
msg #121731
Ignore four
10/15/2014 11:18:35 PM


28 posts
msg #121733
Ignore dustinb
10/16/2014 4:51:01 PM

Kudos to both of you. This filter is awesome. I've spent some time on it today and after eliminating some of the stocks in the results and using my own rules based on the remaining results, this thing is really powerful for next day setups, based on some back testing. Will keep you apprised of what i find day to day.

4,372 posts
msg #121736
Ignore four
10/16/2014 11:37:54 PM


11 posts
msg #121737
Ignore nsusa
10/18/2014 10:32:20 PM

Hi Dustin,

I did do a few trades (real + paper) based on this and came to the same conclusion that it provides good setups for trading. Would love to hear more how you trade these. I only trade those that open positive and disregard the ones that open negative (just to mention one additional thing I am looking at).

StockFetcher Forums · Filter Exchange · 8EMA 10 Percent or more below 34EMA<< >>Post Follow-up

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