Looking for comments on advisability of using the following scan to buy stocks that have been significantly above the 200d mov. avg in the last 30 days and have dropped to at or slightly below 200d avg. and then turned positive while maintaining a positive slope on 200d. Critique appreciated.
output="Pullback.lst";
issuetype common;
daystoload=400;
Exchange nyse,nasdaq,amex;
float AVGG,SHTAVG,MAXX1,MAXX2,MAXX3,MAXX,Slope,UTX;
AVGG:=MovAvg(0,200,CL);
Slope:=MovAvg(0,200,CL)-MovAvg(-2,200,CL);
SHTAVG:=MovAvg(0,3,CL);
MAXX1:=max(-1,-35,cl);
MAXX2:=max(-1,-25,cl);
MAXX3:=max(-1,-18,cl);
MAXX:=((MAXX1 + MAXX2 + MAXX3)/3);
UTX:=(AVGG + (0.15*AVGG));
if
(Close(0) > 5) AND
(InstHold > 42) and
(Slope > 0) and
(MAXX > 1.15*AVGG) and
(Close(0) < 0.9*MAXX) and
(SHTAVG > 0.95*AVGG) and
(AvgVol(0,-6) > 145000) AND
(Vol(0) > 1.08*Vol(-1)) and
(Low(0) > Low(-1)) AND
(MACD(0) > MACD(-1)) and
(Low(0) < UTX) then
println symbol , "," , Description, "," , Slope ," ";
endif; |
