a good screener

Would you prefer a screener that let you run it before the end of day or do you not care?

  • I would strongly prefer to run my screener before the end of day.

    Votes: 3 100.0%

  • I would kind of like it if I could run my screener before end of day.

    Votes: 0 0.0%

  • I'm don't care if i have to run my screens after the market closes.

    Votes: 0 0.0%
  • Total voters
    3
N

natedaag

hi,
i'm looking for a screener/scanner of very specific criteria. specifically i use a lot of rsi(2) and rsi(4) - yes i read larry connors - but i find that most screeners (tradenavigator and tradestation, at least) - if they let you change the rsi period you can't run a screen til the bar closes - but i want to run it 15 minutes before the end of day, so i can get into my option positions before the after-hours messes everything up (and beats me to the punch 9 times out of 10, so far).
thanks,
nate.
 
So you're using daily bars?

Fundamentally, no screener can determine where your RSI level lands before the bar closes, because it doesn't yet have the HLOC information to calculate whatever indicator you use. You should be able to see that when you use let's say 15 min. candles and watch the last bit of the RSI plot (corresponding to your active candle) move up and down. The screener can't tell if your crossed a level until the bar closes.

One way around this is to artificially shorten your trading day. In multicharts (which is what I use), I can just set the session to end at 3:50 pm -- that's when the daily bar closes, and spits out the RSI level for that bar. I'm sure Tradestation has something similar.
 
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