Making a 13 over 30 Crossover Scan

L

leonrossi

New member
Hi All,
I'm new to thinkscript. I would like to create a scan to detect EMA 13 over 30 crossover on the hourly time frame in TOS. I would also like to incorporate the parameter of a stock in an uptrend or downtrend for about 2 weeks before they cross over. I have tried to do this in TOS but i do not get good results. The part that I struggle with is how to capture the stock either in an uptrend or downtrend for about 2 weeks. The idea behind this scan is to spot a momentum stock when it's reversing. Does anyone know how to do this? any help would be greatly appreciated.
 
BenTen

BenTen

Administrative
Staff
VIP
You can use the ToS scanner and build one. Here is an example:

 
L

leonrossi

New member
hi Ben,
That's what I did but I'm not getting good results. The part that I need help with is how do I program to identify stocks that made a strong uptrend or downtrend for about 2 weeks and that's when the momentum is shifting. I wish I could send you an example but I can't upload the image.
 
BenTen

BenTen

Administrative
Staff
VIP
@leonrossi What is your definition for "strong uptrend or downtrend for about 2 weeks" ? Identify that first. Post a screenshot of your scanner setting. Click here to see instructions for that.
 
L

leonrossi

New member
For uptrend - price trading above 30 EMA but doesn't close below it.


For downtrend - price trading below 30 EMA but doesn't close above it.
 
L

leonrossi

New member
these are strong momentum stocks and the plan is to decipher when that momentum is changing and then short it (Put options for a few days) on the pull back and then do the opposite when the cross over happens again.
 
BenTen

BenTen

Administrative
Staff
VIP
But I thought you wanted to find crossovers?
 
L

leonrossi

New member
yes, it is to find crossovers but only after the stock has been trending for a while (~about 2 weeks). For example with MTCH above and SPY below, the stock has been on a uptrend for about 2 wks before the cross over happens.


Thanks for fast response. I really appreciate your feedback.

Leon
 
L

leonrossi

New member
also, what i find interesting is that momentum stocks tends to find support at the 200 hr moving average (SMA). they tend to bounce off of it and then continue higher.
 
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