Relative strength scan

niesmj
niesmj ✭
in Scanning
Is there a way to scan for stocks whose price relative to the S&P crossed above its 50 day moving average?

Answers

  • markd
    markd mod
    Unfortunately, no, although that would be a great scan to have.

    As far as I know, you cannot scan for anything that you would display on the chart with a ratio symbol, e.g. $SYMBOL:$SPX in Price or Price Performance.
  • lmkwin
    lmkwin ✭✭
    Well, you "can" sort of. You have to pick a period for the relative outperformance, so it knows what to make a 50 day moving average of. Below passes syntax and returns results.

    and [PctRelative(20,$spx) x EMA(50,PctRelative(20,$spx))]

    I don't know how to check it though.

  • niesmj
    niesmj ✭
    Thanks. That doesn't get me what I'm looking for, but it got me thinking. Its a simple calculation to get the 50 day moving avg of relative price. Its too bad their scanning software can't accommodate it. I think the crossover is a great indicator of new outperformance.
  • lmkwin
    lmkwin ✭✭
    Change the period to 1 and see if that suites.

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