this Screener identifies sharp movements, pointing to a potential reversal.
It uses CCI and MA of CCI. for example the CCI is above a neutral zone (definable parameter) and the CCIMA is below the neutral zone and has been there for a long (definable parameter) time.
The ROC is used to identify only those instruments where significant price action has occured.
Of course other factors need to be appraised in your investment decision, don’t jump in too early!
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n=20 myCCI = CCI[n] CCIMA = Average[20](myCCI) myROC=ROC[n](close) ROCMA=Average[5](myROC) //lines OBminline = 30 OSminline = OBminline * -1 //entry EntryOK = 0 //for the long CCIMA only. This implies stronger momentum a=0 TailCounter=0 CCIMAminlength=30 /////////////setup/////////////////////////////// //positive////////////////////////////////////////// myROCup = ROCMA >= 0 CCIMApositive = CCIMA>OBminline CCInegative=myCCI<OSminline //negative////////////////////////////////////////// myROCdown = ROCMA <= 0 CCIMAnegative = CCIMA<OSminline CCIpositive=myCCI>OBminline //find only longer CCIMA while ((CCIMApositive[a] and CCIMApositive[a+1])or(CCIMAnegative[a] and CCIMAnegative[a+1])) do TailCounter=Tailcounter+1 a=a+1 wend // entries if (myROCup and CCIMApositive and CCInegative and TailCounter>CCIMAminlength) then EntryOK = 1 //Long OK now elsif (myROCdown and CCIMAnegative and CCIpositive and TailCounter>CCIMAminlength) then EntryOK = -1//Short OK now endif SCREENER [(EntryOK)=1 or EntryOK=-1] ((EntryOK*Tailcounter) as "EntryOK x ROC") |
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thanks for this code Philippo ! So if i understand well a Positive (+) EntryOK x ROC means a LONG signal and a Negative (-) EntryOK x ROC means a SHORTsignal ? And can we say that more important is EntryOK x ROC and more strong could be the reversal signal ?
Hi Philippo,thanks for sharing this code.Can You add please Volume more than 250.00?Thanks