Scan for price touching moving average in ThinkorSwim

[jas]

I need a Thinkorswim scanner which scan stocks whose last few previous daily bar's open, close, low or high touches or almost too close to desired moving averages means act as support or resistance. Can also able to scan for at least 2 different moving averages in a scan so that scan will return stocks which touches either of 2 moving averages.

 

[tomsk]

I'll respond on behalf of @BenTen

Scanning for stocks need to be very clearly defined. Your description above is imprecise and won't mean anything to the scanner
For example you can say something like the close crosses above the 34 EMA during yesterday's close
Once you have a clear definition, scanning for that will be easy
Help us so that someone can help you

 

[jas]

Hi Tom,

Basically looking stocks whose previous last 1-4 daily bar's open, close, high or low is very close to particular moving average which means that it acts as base.

Please check image and I have highlighted points

 

[tomsk]

You really need to define "very close" because different traders have different interpretations of what "very close" means to them
That said, assume you want to scan for stocks with a price within $0.50 of say the 21 EMA
Here is your scan code to do so.

def EMA = ExpAverage(close, 21);
plot scan = between(close, EMA-0.50, EMA+0.50);

 

[jas]

Hi Tom,

Actually looking for scan which return stocks whose previous one to four daily candles either open, close, low or high touches desired moving average. Also I need unusual volume in scan and distance between 2 moving average is narrowing. Please see image below for reference as I highlighted for what I am looking for?

Thanks

 

[tomsk]

Having these sorts of moving averages criss-crossing each other does not give any clear signal
Worse it may give you false positives. Probably better to wait for a clearer direction.

However since you wanted it, here is an EMA Convergence scan using 8,13,21 periods
I obtained 218 results on the scanner, scanning against the S&P 500.

# EMA Convergence Scan
# tomsk
# 12.5.2019

# Scan for convergence between EMA 8,13,21

input length1 = 8;
input length2 = 13;
input length3 = 21;

def ema1  = ExpAverage(close, length1);
def ema2  = ExpAverage(close, length2);
def ema3  = ExpAverage(close, length3);

def cond1  = between(ema1, close * .995, close * 1.005);
def cond2  = between(ema2, close * .995, close * 1.005);
def cond3  = between(ema3, close * .995, close * 1.005);

plot scan = cond1 + cond2 + cond3;
# End EMA Convergence Scan

 

[jas]

Thanks Tom,

Actually, I am looking for scan where daily candle's either high, low, close or low is touching desired moving average. For reference, please see picture below.

 

[tomsk]

Unfortunately I need to move on to other pressing projects. You weren't clear from the get go. I really don't see the point of the request.

 

[BenTen]

Like @tomsk said, you were not specific about your request from the beginning. That makes it harder for us to help. After reading your questions multiple times, I hope I understand it correctly. You can scan for stocks that are crossing a moving average. @jas I believe you can do that using the default Scanner in ThinkorSwim. You just have to build one using their Scan Editor. It's as simple as the following:

The snippet for that would be:

close crosses SimpleMovingAvg("length" = 21)."SMA"

When running this on the daily chart, it will return any stocks with the close crossing above or below the 21 simple moving average.

 

[jas]

Hi Tom,

Please see below more precise picture for scanner I am looking for?

Thanks

 

[horserider]

@jas Seems you are looking for consolidation areas. Check ECI Gaussian. Maybe you can make a scan from that. Or scan for breakouts.

 

[Baller124]

@tomsk what would be the SMA version of this?

 

[BenTen]

@Baller124 Change ExpAverage to simpleMovingAvg

 

[ezrollin]

How would I scan for price touching the 50 SMA on the daily but is staying above it? Thanks

close is equal to SimpleMovingAvg("length" = 50)."SMA" within 1 bars

 

[BenTen]

@ezrollin Use either crosses above or greater than or equal to in your scanner.

 

[BenTen]

@derekwfrazier You can quickly build one through the scan's conditional wizard.

 

[BenTen]

@derekwfrazier Yes, it should be.

 

[trader11]

 

[cdjohnson73]

My question is: is there a way to modify the second code so that it can highlight the setup of my first code?

close("period" = AggregationPeriod.MIN, "priceType" = PriceType.LAST) crosses above MovAvgExponential()."AvgExp" within 2 bars

I have another code for seeing the percent change over 1 minute which is:

def bk = close; def change = 100*(1-bk/bk[1]); plot signal = change; signal.AssignValueColor (Color.BLACK); AssignBackgroundColor( if change > 10 then color.green else if change >5 then color.light_green else Color.light_GRAY);

 

[Pensar]

Hey all, apologies for the confusion and thank you for taking the time to tell me what I was missing. My current code is:

close("period" = AggregationPeriod.MIN, "priceType" = PriceType.LAST) crosses above MovAvgExponential()."AvgExp" within 2 bars

I have another code for seeing the percent change over 1 minute which is:

def bk = close; def change = 100*(1-bk/bk[1]); plot signal = change; signal.AssignValueColor (Color.BLACK); AssignBackgroundColor( if change > 10 then color.green else if change >5 then color.light_green else Color.light_GRAY);

My question is: is there a way to modify the second code so that it can highlight the setup of my first code? Sorry for doing it wrong I hope this is correct

@cdjohnson73 Where are you trying to use this code?

If in a scan, try close crosses above expaverage(close,14) within 2 bars and select the necessary aggregation to scan from the dropdown menu. The default length you are referencing for the EMA is 14, in case you're wondering why I chose that length. Remember that scans only update every 3 minutes or so at best, so using a 1 min agg might not work very well.

If in a watchlist column -

def data = close crosses above expaverage(close,14) within 2 bars;
AddLabel(1,if data then "Crossing" else "", if data then color.green else color.black);
AssignBackgroundColor(if data then color.green else color.black);

This will color both the text and the background green when the conditions are true. you can change the quoted text in the label to display whatever you want, as well as the color. Select the necessary aggregation for the column from the dropdown menu.

I havent tested any of this code, so make sure it works.