REM Compute the power of the bearish trend
// Find the lowest quote on the last 8 bars
LowPoint = HIGHEST[8](LOW)
// Compute the variation of price from this point to now
nowAdvance = OPEN- highPoint
// Compute the usual volatility of the stock (median of True Range)
Norm = SUMMATION[3](TR) – HIGHEST[3](TR) – LOWEST[3](TR)
REM Stock picking : only the bearish engulfing
Filter = OPEN[1] > CLOSE[1] AND CLOSE > OPEN[1] AND OPEN < CLOSE[1]
REM We keep the most serious advances
SCREENER [ Filter ] (Advance / Norm AS “Trend Power”)
Eccolo