Overbought and Oversold Stochastic Screener

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11/25/2020 at 12:20 AM #151469 quote

sfjeelani
Participant

New

Dear All

Can someone please point me in the right direction on finding Overbought and Oversold conditions for Stochastic indicator. I have just found stochastic and MACD crossover indicator, would be great if screener could pick overbought and oversold conditions for this.

Stochastic MACD Oscillator

Many thanks

11/25/2020 at 1:05 AM #151470 quote
robertogozzi
Moderator

Legend
There you go:
```
LookBack = 20
if barindex >= 26 then
   LL       = lowest[LookBack](low)
   HH       = highest[LookBack](high)
   StEMA12  = (Average[12,1](close) - LL) / (HH - LL)
   StEMA26  = (Average[26,1](close) - LL) / (HH - LL)
   StMACD   = (StEMA12 - StEMA26) * 100
   SigLine  = Average[9,1](StMACD)
   hhmacd   = max(sigline,max(hhmacd,stmacd))
   llmacd   = min(sigline,min(llmacd,stmacd))
   macdperc = ((stmacd-llmacd)/(hhmacd-llmacd))*100
   sigperc  = ((sigline-llmacd)/(hhmacd-llmacd))*100
endif
Result = 0
IF macdperc >= 80 THEN            //OverBought
   Result = 1
ELSIF macdperc <= 20 THEN         //OverSold
   Result = 2
ENDIF
SCREENER[Result](Result AS "1=Ob, 2=Os")
```
11/25/2020 at 8:04 AM #151479 quote

sfjeelani
Participant

New

Many thanks Roberto.

When I run, it shows syntax error: This variable is not used in the code:sigperc

Is there I am doing something wrong?

11/25/2020 at 8:14 AM #151481 quote

Vonasi
Moderator

Master

Just delete line 12
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Overbought and Oversold Stochastic Screener

ProScreener: Market Scanners & Detection

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sfjeelani @sfjeelani Participant

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This topic contains 3 replies,
has 3 voices, and was last updated by Vonasi
5 years, 9 months ago.

Topic Details

Forum:	ProScreener: Market Scanners & Detection
Language:	English
Started:	11/25/2020
Status:	Active
Attachments:	No files

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