LF help with screener for these kinds of stocks

• 08/18/2024 at 8:32 PM #236484
  Peterphe

  Hello,

  I saw a scenario on Friday that I’m very interested in screening for. I would appreciate your assistance in finding more of these scenarios.

  To summarize. 1) I want stocks that are up a lot on open. 2) The price then goes down during the first part of the day, creating new lows for the day. 3) The screener then give me stocks that later during a day crosses over VWAP on the 5-minute chart. See the picture and my pseudo-code below.

   

  Pseudo-code that i need help with

  timeframe(daily) c1 = close > close[1] * 1.4 //daily open is up alot since yesterday //Now I want to fokus on 5-minute timeframe timeframe(5 minutes) //need help with my pseudo-code here c2 = (close 10 min from open is down compared to open) //need help with my pseudo-code here vwapToday = volumeadjustedaverage[barindex - (BARINDEX SINCE OPEN HERE](close) c3 = close > vwapToday screener[c1 and c2 and c3]

  1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18

  timeframe(daily) c1 = close > close[1] * 1.4 //daily open is up alot since yesterday   //Now I want to fokus on 5-minute timeframe timeframe(5 minutes)     //need help with my pseudo-code here c2 = (close 10 min from open is down compared to open)     //need help with my pseudo-code here vwapToday = volumeadjustedaverage[barindex - (BARINDEX SINCE OPEN HERE](close) c3 = close > vwapToday     screener[c1 and c2 and c3]

   

  

  Peterphe

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  08/19/2024 at 8:35 AM #236494
  JC_Bywan

  Hi,

  if your c2 is about the close 10 mn from open in timeframe 5mn, then you can use intraday barindex to know when you’re on it or not, first intradaybarindex starting from open is equal to 0, so the next 5 mn bar, closing 10mn from open, is intradaybarindex=1

  you can also use a coefficient lower than one and the keyword Dopen(0) to define how much lower at least you want to have reached, so in summary for c2:

  Coeff=0.999// a value <1 to define min percentage down reached since open c2= intradaybarindex=1 and close<Coeff*Dopen(0)

  1 2	Coeff=0.999// a value <1 to define min percentage down reached since open c2= intradaybarindex=1 and close<Coeff*Dopen(0)

   

  For c3, you can find vwap codes from previous forum posts and select your favorite, using internal forum search button at top right corner of the page, mouse hovering over avatar and entering search keyword(s) on first line of drop down menu (see image attached)

  To visualise all criteria are behaving as you expect, you can also work on an indicator version first, visualising what you need either with variables on the return line or with graphic commands, and once you’re happy with your code as an indicator, then revert back to making a screener of it.

   

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  Peterphe

  

  JC_Bywan

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  08/19/2024 at 12:52 PM #236516
  Peterphe

  Thank you. Much apperciated tips.

  

  Peterphe

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