Screener for pullback swing trading

Niall01 · 2017-05-08T20:34:23+00:00

Hi All, I’m hoping to get some help in coding a screener for a basic strategy: Find a stock/ currency pair that has reached a new 40 day high The next three days should have lower closing prices i.e day 1 close lower than 40 day high; day two close lower than day 1 close etc On the fourth day the closing price must close higher than the closing price on the third day and must close within the upper 20% of the daily trading range This is a “long” strategy. “Short” would just be reversed. I’m happy fro this to be shared in the community if it proves valuable Thanks for any help. -N

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05/08/2017 at 9:34 PM #34872 quote
Niall01
Participant

New
Hi All,

I’m hoping to get some help in coding a screener for a basic strategy:
- Find a stock/ currency pair that has reached a new 40 day high
- The next three days should have lower closing prices i.e day 1 close lower than 40 day high; day two close lower than day 1 close etc
- On the fourth day the closing price must close higher than the closing price on the third day and must close within the upper 20% of the daily trading range
This is a “long” strategy. “Short” would just be reversed.

I’m happy fro this to be shared in the community if it proves valuable

Thanks for any help.

-N
05/09/2017 at 11:32 AM #34920 quote
Nicolas
Keymaster

Legend
Hi Niall,

This is a first attempt, not sure if it suits correctly your query, please make tests and give feedback. Many thanks.
```
//Find a stock/ currency pair that has reached a new 40 day high
c1 = high[4]=highest[40](high)[4]

//The next three days should have lower closing prices i.e day 1 close lower than 40 day high; day two close lower than day 1 close etc
c2 = summation[3](close<close[1])[1]=3

//On the fourth day the closing price must close higher than the closing price on the third day and must close within the upper 20% of the daily trading range
c3 = close>close[1] and (close-low)/range>0.8

screener [c1 and c2 and c3]
```
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pullback-swing-trading-screener.png
05/10/2017 at 8:59 AM #35005 quote

Niall01
Participant

New

Hi Nicholas,

Thank you very much for this. I’ve run it through a variety of exchanges that ProReal Time Offer and found some ideal candidates. I’ll tweak a bit of the code and see if I can get a screen for shorts too.

best wishes,

Niall

05/10/2017 at 9:45 AM #35016 quote

Nicolas
Keymaster

Legend

ooh ok. Please share your code here for the benefit of everyone and to complete the topic with a “global” screener code (long/short).

05/17/2017 at 9:44 PM #35901 quote

Niall01
Participant

New

Hi All,

Been busy with my day job so apologies if this is a bit late. This is what I’ve got for shorts:

//Find a stock/ currency pair that has reached a new 40 day low

c1 = low[4]=lowest[40](low)[4]

//The next three days should have higher closing prices i.e day 1 close higher than 40 day low; day two close higher than day 1 close etc

c2 = summation[3](close>close[1])[1]=3

//On the fourth day the closing price must close lower than the closing price on the third day and must close within the upper 20% of the daily trading range

c3 = close<close[1] and (close–low)/range>0.8

screener [c1 and c2 and c3]

Rules:

Short

Place an entry 0.03 pips/ ticks below the lowest price traded on day four, the day the instrument turned back around and traded to the downside. Place a stop loss 0.03 cents above the highest high reached on the third day, two days before your entry, the pivot high point.

Long

Place an entry 0.03 pips/ ticks above the highest price traded on day four, the day the instrument traded to the upside. Place a stop loss 0.03 cents below the lowest low reached on the third day, two days before your entry, the pivot low point.

Hope that’s of use.

Niall01
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