In a nutshell this is a way to scan for some ACD levels .
Maverick and Quon were posting that Aups or Adowns also approaching /breaching a 3 period MA of the weekly pivot may be a good tool to have. The scan below does just that.
If anyone is interested.
Cut and paste the code for this scan as is, without the asterisk strings,
into
www.stockfetcher.com . Select "create scan "on the Home Page. (I am not affiliated with them. )
Im sure everyone has their own tools but this isnt bad.
Unfortunately I dont know how to code a number line as of now but
intend to in the future.
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/COMMENTS/
/find the "draw" statements. Add or remove comments to draw or not draw the/
/ 1) weekly opening range. 25% of weekly atr/
/ 2) single week pivot lines per Fisher book/
/ 3) 3 week roling MA of pivots/
/The scan tests are basicalyy to test if above or below these levels/
/the are at the end of the script. Comment out ones you dont want/
/the default is test for close above aup and 3 week rolling pivot/
/ MARKET IS ETF/
close > 10
avg vol(90) > 1000000 /select price and volume criteria you desire/
CHART-DISPLAY IS WEEKLY
SET{ CH, CMA(WEEKLY HIGH,5)}
SET{CL, CMA(WEEKLY LOW,5)}
SET{DIFF, CH - CL}
SET{FRACT, .1 * DIFF}
set{x, WEEKLY high 1 WEEK ago + WEEKLY low 1 WEEK ago}
set{ b, x + WEEKLY close 1 WEEK ago}
set{piv, b / 3} /"comment" page 37 Daily PivotPrice from data one day ago. Change to weekly H+L+C/3 */
set{mn, x /2} /"comment" page 37 second number from data one day ago H+L/2 */
set{pdiff, piv - mn}
/* diff between mean(H+L/2) and pivot price is pivot differential*/
set{apdiff, abs(pdiff)}
/*take weekly pivot price(H+L+C/3) and add and subtract the pivotdifferential to it*/
set{hpiv, piv + apdiff} / top pivot line/
set{lpiv, piv - apdiff} / lower pivot line/
/the following lines are the single week pivot lines. brace to comment out if desired/
/draw hpiv on plot close/
/draw lpiv on plot close/
set{a1,WEEKLY atr(5)}
set{a2, a1 * .125} /* this will create opening range .25 of atr +.125 and -.125*/
set{hor ,WEEKLY OPEN + a2} /* todays open */
set{lor, WEEKLY open - a2}
/*******done opening range lines....timecant be inthis filter*/
set{Aup, hor + FRACT}
set{Adown,lor - FRACT}
/*************done with Aupanddown *******************/
add column hor
add column lor
add column Aup
add column adown
set{h1, high - low}
set{h2, hpiv - lpiv}
set{h3, h2 / h1}
add column h3
set{x1, hor - lor}
set{x2, lor + x1}
set{mah, cma(hpiv,3)}
set{mal, cma(lpiv,3)}
add column industry
/the following 2 lines are the single week opening range. It is 25% of the average weekly bar for the last 5 weeks/
/draw hor on plot close/ /this is top line of OR/
/draw lor on plot close / /this is bottom line of OR/
/the following 2 lines are the 3 week rolling moving average of the weekly pivot lines/
draw mah on plot close /this is top line of 3 week rolling pivot/
draw mal on plot close /this is bottom line of 3 week rolling pivot/
/following are conditions to test for. Comment out if you dont want. Leave more than 1 in use and it is an AND situation/
close above aup
close above mah
/close below mal/
/close below adown/
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