Green Line by Dr. Eric Wish

• 08/21/2022 at 9:45 AM #199322
  Frank

  Hi,

  Is it possible to develop a stock screener based on Eric Wish’s Green line?

  Conditions are quite simple

  – Simple Moving average (10 days) > Simple Moving Averate (30 days)
  – In monthly chart price crosses over the Green Line
  – If no GLB found for a stock, then green line appears at 0.0

  I explain what the Green Line is below:

  The Green Line Breakout ( GLB ) was popularized by Dr. Eric Wish through his Wishing Wealth Blog.

  GLB indicator looks at a monthly chart for a stock that hit a new all time high recently and draw a green horizontal line at the highest price reached at any month, that has not been surpassed for at least 3 months.

  In other words, this method finds stock that reached an all-time high and has then rested for at least three months. When a stock moves through the green line or is above its last green line, it is an indication of strong buying interest.

  Read more about how to use the indicator in Wishing Wealth Blog: https://www.wishingwealthblog.com/glossary/

  This is the Tradingview implementation, unfortunately, no code is available: https://www.tradingview.com/script/d6hg0wPr-Green-Line-Breakout-GLB/

  

  Frank

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  08/21/2022 at 9:56 AM #199324
  Frank

  This is a picture of the Green line breakout

  

  Frank

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  08/21/2022 at 11:27 AM #199329
  robertogozzi

  Do you need an indicator or a screener?

   

  

  robertogozzi

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  08/21/2022 at 1:55 PM #199336
  Frank

  Hi Roberto, I’d like to get a screener, if possible. Thanks!

  

  Frank

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  08/21/2022 at 5:33 PM #199356
  robertogozzi

  Here is the indicator:

  DEFPARAM DrawOnLastBarOnly = True // Timeframe(Monthly,UpdateOnClose) ONCE Periods = 36 //36 months HH = highest[Periods](high[4]) c1 = (summation[3](high[1] < HH) = 3) Timeframe(Daily,UpdateOnClose) Sma10 = average[10,0](close) Sma30 = average[30,0](close) // Timeframe(default) DrawHline(HH) coloured(0,128,0,155) style(line,4) RETURN Sma10 AS "Sma10",Sma30 AS "Sma30"

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  DEFPARAM DrawOnLastBarOnly = True // Timeframe(Monthly,UpdateOnClose) ONCE Periods = 36                     //36 months HH = highest[Periods](high[4]) c1 = (summation[3](high[1] < HH) = 3)   Timeframe(Daily,UpdateOnClose) Sma10 = average[10,0](close) Sma30 = average[30,0](close) // Timeframe(default) DrawHline(HH) coloured(0,128,0,155) style(line,4) RETURN Sma10 AS "Sma10",Sma30 AS "Sma30"

  and this is the screener,  should you need it:

  Timeframe(Monthly) ONCE Periods = 36 //36 months HH = highest[Periods](high[4]) c1 = (summation[3](high[1] < HH) = 3) // Timeframe(Daily) c2 = close CROSSES OVER HH c3 = average[10,0](close) > average[30,0](close) // Timeframe(default) x = c1 AND C2 AND C3 SCREENER[x]

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  Timeframe(Monthly) ONCE Periods = 36                     //36 months HH = highest[Periods](high[4]) c1 = (summation[3](high[1] < HH) = 3) // Timeframe(Daily) c2 = close CROSSES OVER HH c3 = average[10,0](close) > average[30,0](close) // Timeframe(default) x  = c1 AND C2 AND C3 SCREENER[x]

   

   

  1 user thanked author for this post.

  Frank

  

  robertogozzi

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  08/21/2022 at 5:51 PM #199357
  Frank

  Tahnk you very much Roberto!

  

  Frank

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