Percentage change from open

dhall6938
dhall6938 ✭
in Scanning
Can I ask, does (Close > Open * .50) mean that price is up one half a percent from it's open?

Comments

  • dhall6938
    dhall6938 ✭
    I would like to add a % change on the same day requirement to my scans.
  • markd
    markd mod
    edited January 2022
    One per cent is .01. So a half per cent would be .005.

    But, a half per cent of the open would be just a small fraction of the open. So, suppose the open is 100.

    100 * .005 would be .5

    So, your statement would be close > .5, which is bound to be true.

    What you want is

    and [close > open + [open*.005]]

    So if open is 100, it would be "close > 100 + (100*.005)", same as "close > 100 + .5", same as "close > 100.5".
  • dhall6938
    dhall6938 ✭
    Thanks Mark. I am envious of your brain power. I am trading SPX only now and I am working on another filter the help reduce or eliminate a few of the losers. I will use a half percent filter on some and about one percent of some others. Thank you. I'll go experiment with what you gave me.
  • dhall6938
    dhall6938 ✭
    It does exactly what I want. Thanks
  • markd
    markd mod
    Another way to express it is:

    and [close > open*1.005]

    ... a little easier to write - just make sure you use 2 zeroes and not one zero by mistake.
  • dhall6938
    dhall6938 ✭
    Thanks appreciate it

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