ADR Scan

Tom409
Tom409 ✭
in Scanning
There is no ADR (Average Daily Range) indicator in Stockcharts. I wrote this primitive scan to help find possible day trading stocks. It looks for stocks with an ADR between 3 and 7. That are also between $30 and $200.
I am sure this could be tightened up. But it does seem to work. As I have gotten a lot of stuff here, I am posting to save other people the time and bother.

[type is stock] and [sma(20,volume) > 5000000]
and [[ Exchange is NYSE] or [Exchange is NASD]]
and [Close > 30] and [Close < 200]
and [Group is not ETF]

and [[Today's High - Today's Low ]
+ [Yesterday's High - Yesterday's Low ]
+ [2 Days ago High - 2 Days ago Low ]
+ [3 Day's ago High - 3 Day's ago Low ]
+ [4 Day's ago High - 4 Day's ago Low ]
+ [5 Day's ago High - 5 Days ago Low ]
+ [6 Day's ago High - 6 Day's ago Low ]
+ [ 7 Day's ago High - 7 day's ago Low ]
+[8 day's ago High - 8 Day's ago Low ]
+[9 Day's ago High - 9 Day's ago Low ]
+[10 Day's ago High - 10 Day's ago Low ]
+[11 Day's ago High - 11 Day's ago Low ]
+ [ 12 Day's ago High - 12 Day's ago Low ]
+[13 Day's ago High - 13 Day's ago Low ]
+[ 14 Day's ago High - 14 Days ago Low ]
/14 > 3 ]

and [[Today's High - Today's Low ]
+ [Yesterday's High - Yesterday's Low ]
+ [2 Days ago High - 2 Days ago Low ]
+ [3 Day's ago High - 3 Day's ago Low ]
+ [4 Day's ago High - 4 Day's ago Low ]
+ [5 Day's ago High - 5 Days ago Low ]
+ [6 Day's ago High - 6 Day's ago Low ]
+ [ 7 Day's ago High - 7 day's ago Low ]
+[8 day's ago High - 8 Day's ago Low ]
+[9 Day's ago High - 9 Day's ago Low ]
+[10 Day's ago High - 10 Day's ago Low ]
+[11 Day's ago High - 11 Day's ago Low ]
+ [ 12 Day's ago High - 12 Day's ago Low ]
+[13 Day's ago High - 13 Day's ago Low ]
+[ 14 Day's ago High - 14 Days ago Low ]
/14 < 7 ]

Comments

  • lmkwin
    lmkwin ✭✭
    There is a Range function in the Price, Volume, SCTRs dropdowns. The range is a summary value of the High - Low.

    Another way to express the top part of the code:

    and [[range
    + 1 days ago range
    + 2 days ago range
    + 3 days ago range
    + 4 days ago range
    + 5 days ago range
    + 6 days ago range
    + 7 days ago range
    + 8 days ago range
    + 9 days ago range
    + 10 days ago range
    + 11 days ago range
    + 12 days ago range
    + 13 days ago range
    + 14 days ago range]
    /14>3]

    Range has some advantages and some drawbacks. Nothing wrong with "long hand" version you shared. That doesn't have some of the drawbacks that range can present. Thanks for posting it.
  • markd
    markd mod
    edited April 2022
    @Tom409 I wonder if there doesn't need to be one more set of brackets [ ] around all the [high-low] s.

    I'm wondering if the "/14" isn't just dividing the last [high- low] instead of the sum of all the [high - lows]?

    Also, would ATR (average TRUE range) give useful (though not identical) results, in most cases?
  • Tom409
    Tom409 ✭
    It seems to work without needing an additional bracket. Also the /14 is outside the inner bracket. So I think it should be dividing the sum of the total.

    ATR includes gaps. ADR does not. That is the difference between them. Often stocks gap, but do not go anywhere

    I think ADR is mostly used to find good day trading stocks. That is often what I use it for. Some traders, Kristjan Kullamgi for example, use ADR as a percentage rather than an absolute number.

    I am mostly looking for strongstocks that are active and move enough to grab a good move. LIke MU AMD or AAPL for example
    I sometimes also add scanning for an inside day to this scan

    and [Today's High < Yesterday's High]
    and [Today's Low > Yesterday's Low ]


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