Common stock scans in Technical Analysis

sh50

Active Member
#1
I think understanding some common stock scans or explorations can enable beginners to explore more. Let's try one from metastock.


Equis - Relative Str Index - Expert Sys- This exploration seeks securities which have just crossed below/above the Bullish/Bearish signal line values for the RSI, 70/30. It uses the Close and 14 as the parameters for the RSI (which are the defaults in MetaStock's RSI indicator. A 1 in Column A indicates a Bullish crossover, while a 1 in Column B indicates a Bearish crossover. The Close and Volume and Percent Increase in the Volume are shown as reference information in columns D, E, and F.

IMPORTANT NOTE: The value of the RSI indicator is impacted significantly by the amount of data loaded, so if the amount of data loaded varies results may vary.


A-Cross(RSI(C,14),30)

B- Cross(70,RSI(C,14)

C- RSI(C,14)

D-C

E-VOLUME

F-(VOLUME/(Mov(VOLUME,90,S)) * 100)

FILTER-

colA OR colB {a cross over Up or Down occurred}

{filter for Volume >= 100% above an SMA of the Volume, a 90-period SMA is the default}

AND
(VOLUME/(Mov(VOLUME,90,S)) * 100) >= 100


Everything is self explanatory here except for volume. Can traderji explain column F and references to volume in the filter.


Can you suggest some common stock scans- like combining moving averages with RSi for instance.


Is taking the first 100/200 stocks of Nse and BSE a good thumb rule? Thanks
 

Traderji

Super Moderator
#2
Column is nothing but the:

Volume today / Avg. Volume of last 90 days

in % terms.

Column F is used in the filter column to filter out stocks whose volumes are less than the average volume of the last 90 days.
 

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