Monthly screening by using weekly candlesticks

• 12/29/2019 at 8:41 PM #115590
  Henchey

  Hello, if you could help on this I’d be grateful:

  I know its not possible to screen on the monthly timeframe but could I screen through the weekly timeframe as an alternative?

  For instance would it be possible to screen for a declining price over the weekly periods that correspond to 3 monthly candles?

  For instance a lookback of  20 weeks to 17 weeks on the weekly chart (corresponds to the August monthly candle (at time of writing)), and so on.

  I’m trying to use the weekly timeframe to find three monthly declining price candles followed by a monthly candle closing higher. Hopefully that makes some sense…

  Using the weekly timeframe to replicate monthly screening

  c1 = (open[20] > close[17]) c2 = (open[16] > close[12]) c3 = (open[11] > close[8]) c4 = (open[7] < close[4])

  1 2 3 4

  c1 = (open[20] > close[17]) c2 = (open[16] > close[12]) c3 = (open[11] > close[8]) c4 = (open[7] < close[4])

   

   

  

  Henchey

  Participant

  Topics: 5

  Replies: 17

  Been thanked: 1 time
  01/05/2020 at 4:32 PM #115940
  Nicolas

  That’s an idea, is it working properly?

  

  Nicolas

  Keymaster

  Topics: 81

  Replies: 20863

  Been thanked: 4773 times
  01/08/2020 at 4:43 PM #116227
  Henchey

  Hi Nicolas

   

  Thanks for getting back. The initial effort to try and use weekly candles to represent a three/ four monthly pattern didn’t seem to work. I couldn’t get three consecutive lower closes on the weekly candles, not sure why this is as that part seemed the most basic.

   

  

  Henchey

  Participant

  Topics: 5

  Replies: 17

  Been thanked: 1 time
  01/09/2020 at 10:06 AM #116280
  Nicolas

  Something like:

  if month<>month[1] then if close[1]<last then count=count+1 else count=0 endif last=open endif screener[count=3](count)

  1 2 3 4 5 6 7 8 9 10

  if month<>month[1] then if close[1]<last then count=count+1 else count=0 endif last=open endif   screener[count=3](count)

  Should work on a daily timeframe screener.

  

  Nicolas

  Keymaster

  Topics: 81

  Replies: 20863

  Been thanked: 4773 times
  01/27/2020 at 9:27 PM #118081
  Henchey

  Thanks Nicolas, that seems to work much better than my attempt

  Cheers

  Pete

  

  Henchey

  Participant

  Topics: 5

  Replies: 17

  Been thanked: 1 time
  01/27/2020 at 9:59 PM #118085
  Henchey

  Nicolas, is there a means to add in screening for stocks close to a major support line?

  Thanks

  Pete

  

  Henchey

  Participant

  Topics: 5

  Replies: 17

  Been thanked: 1 time
  01/28/2020 at 9:14 AM #118107
  Nicolas

  How would you define a major support line please?

  

  Nicolas

  Keymaster

  Topics: 81

  Replies: 20863

  Been thanked: 4773 times
  01/28/2020 at 5:15 PM #118168
  Henchey

  That’s a good question!

  I think thats a challenge as I had hoped I could of used the ‘assisted creation’ mode in pro screener to select the on-chart support lines and add a condition of price crossing it etc.

  But not sure if its possible to code in where a support might be?

  

  Henchey

  Participant

  Topics: 5

  Replies: 17

  Been thanked: 1 time
• Author
  Posts