Formula Help

Hi to All

I have just started using FChart Pro and I have Drawn two nos EMA, namely EMA2: 30 period and EMA3: 50 period along with RSI as an indicator

I would like to scan stocks for long when EMA2 crosses EMA3 for the first time AND when the RSI goes over 60 for the first time

Simlarly for scanning stocks for short

EMA3 crosses EMA2 for the first time AND RSI goes below 50 for the first time

Most important question is where do I put these formula: in the "Scanner"? If that is so, what should be the other conditions that have to fulfilled in the "Scanner Window"

Sir,
You have developed two EMAs namely 30 Days EMA and 50 Days EMA. I think, if you use Window XP Professional system in your Desktop. Go to open a Excell worksheet. Put the Headings in sequence :
Date, Price Movements (High,Low and Close), RSI, 30-D EMA, 50-D EMA, Difference, Triggerline, Divergence.
> Download the required price data from nseindia.com
> Put the respective data under High,Low,Close.
> Prepare daywise RSI formula and copy down it.
> Prepare the 30, 50 EMAs under respective Headings.
> Compute the diff. of two EMAs under DIFFERENCE column.
> Prepare TRIGGER Line data (a 9-D EMA of Diff.), copy down it
> Last of all prepare the difference between DIFFERENCE & TRIGGER i.e.,
conveniently called the DIVERGENCE, but in reality it is HISTOGRAM.
You can view two series of SWINGS (UP & DOWN) if after painting through Mouse you go to GRAPH menu choose BAR GRAPH and enjoy the view. This is most accurate one and BUY when it Goes in DN SWING and sell when it goes UPSwing.

Thks. Shall try that. But is it possible in FChart PRO?

You can scan stocks based on your selected parameters. Try the following formula for scanning:-

(1) EMA2 > EMA3 AND EMA2[1] < EMA3[1] AND RSI > 60 AND RSI[1] < 60

(2) EMA2 < EMA3 AND EMA2[1] > EMA3[1] AND RSI < 50 AND RSI[1] > 50

Please copy paste the formulas in respective in condition 1 & 2 and then start scanning to get your desired results.

Cheers

Himadri

Thks Himadriji. But where do I copy and paste the formula? In the "Scanner" Window? or the main chart window where there are numbered 1,2 3 & 4 text boxes?

Copy paste the formula in formula entry box by left mouse clicking on (1) or (2) on main window & write formula. Name the formula and copy paste the formula in formula builder box. Please go through help file and you will find everything is written in very simple language.

Cheers

Himadri

Dear Himadriji

Instead of using RSI[1] < 60 how can I put a formula for the same day RSI to be between 50 and 70

You can write (RSI[1] < 70 AND RSI[1] > 50) INSTEAD OF RSI[1] < 60

Himadri

Thks. It worked. Can I add another AND condition with the existing formula, like for the Chaikin Oscillator?

You can add other condition also to filter more but scanning will be slow. I think if you add CCI formula also with the same formula you may find some effective results. However its upto you on what condition you will stress. If you add CCI formula with your existing formula, You can try to add this in condition 1 & 2

(1) AND CCI > 100 AND CCI > CCI2

(2) AND CC1 < 100 AND CCI < CCI2

If you have condition for Chaikin oscillator, please let me know so that I can also try for the same.

Cheers

Himadri