Scanner for futures in a Bear Market

[Branch]

Do we (useThinkScript family) have a scanner for futures that will show futures that are in a Bear market?

 

[BenTen]

What's your definition of a bear market?

 

[Branch]

Hi BenTen, For me when price is below the simple moving averages of 21MA and 35MA AND the RSI based on 14 period that is below 50%.
I currently use these labels to assist me with identifying bearish sentiment but would like to have my watch list provide this information.

input length1 = 21;
input length2 = 35;
input over_Bought = 80;
input over_Sold = 20;
input price = close;
input averageType = AverageType.SIMPLE;
input showBreakoutSignals = no;
input averageType1 = AverageType.SIMPLE;
input averageType2 = AverageType.SIMPLE;
input averageType3 = AverageType.SIMPLE;
input averageType4 = AverageType.SIMPLE;
input crossingType = {default above, below};

def NetChgAvg = MovingAverage(averageType, price - price[1], length1);
def TotChgAvg = MovingAverage(averageType, AbsValue(price - price[1]), length1);
def ChgRatio = if TotChgAvg != 0 then NetChgAvg / TotChgAvg else 0;
def avg1 = MovingAverage(averageType1, price, length1);
def avg2 = MovingAverage(averageType2, price, length2);

plot RSI = 50 * (ChgRatio + 1);
plot OverSold = over_Sold;
plot OverBought = over_Bought;
plot UpSignal = if RSI crosses above OverSold then OverSold else Double.NaN;
plot DownSignal = if RSI crosses below OverBought then OverBought else Double.NaN;

#RSI Labes above midline
AddLabel (yes, if RSI  between 96 and 100 then "L1 Over-Consider Exit  96%-100%"  else "", Color.RED);
AddLabel (yes, if RSI  between 90 and 95.9999 then "L2 Over-90%-95%"  else "", Color.YELLOW);
AddLabel (yes, if RSI  between 79.99991 and 89.9999 then "L3 Over-79%-89%"  else "", Color.cyan);
AddLabel (yes, if RSI  between 70 and 79.9999 then "RSI 70%Range"  else "", Color.GREEN);
AddLabel (yes, if RSI  between 60 and 69.9999 then "RSI 60%Range "  else "", Color.GREEN);
AddLabel (yes, if RSI  between 51 and 59.9999 then "RSI 50%Range"  else "", Color.GREEN);
AddLabel (yes, if RSI  between 50 and 50.9999 then "RSI 50%Range"  else "", Color.YELLOW);

#RSI Labels below midline
AddLabel (yes, if RSI  between 40 and 49.9999 then "RSI 40%Range"  else "", Color.RED);
AddLabel (yes, if RSI  between 30 and 39.9999 then "RSI 30%Range"  else "", Color.RED);
AddLabel (yes, if RSI  between 21 and 29.9999 then "RSI 20%Range"  else "", Color.RED);
AddLabel (yes, if RSI  between 10 and 20.9999 then "L3 Under-11%-20%"  else "", Color.cyan);
AddLabel (yes, if RSI  between 6 and 9.9999 then "L2 Under-6%-10%"  else "", Color.YELLOW);
AddLabel (yes, if RSI  between 0 and 5.9999 then "L1 Under-Consider Exit  0%-6%"  else "", Color.RED);

#MA Aligned
AddLabel (yes, if close < avg1 and close < avg2  then "(SELL)" + "" else "", Color.RED);
AddLabel (yes, if close > avg1 and close > avg2  then "(BUY)" + "" else "", Color.GREEN);

#Moving average labels
AddLabel (yes, if close < avg1 then "MA.21 SELL" + "" else "", Color.RED);
AddLabel (yes, if close > avg1 then "MA.21 BUY" + "" else "", Color.GREEN);
AddLabel (yes, if close < avg2 then "MA.35 SELL" + "" else "", Color.RED);
AddLabel (yes, if close > avg2 then "MA.35 BUY" + "" else "", Color.GREEN);

 

[BenTen]

You can easily set you a scanner based on those conditions you just listed.

For example: this condition will look for stocks closing below the 21 simple moving average.

 

[Branch]

BenTen - I figured it out and it was not hard. Thanks again.