Close above two stacked emas for previous 15 bars


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Hello Mr. Hahn,

I am creating a scan where the close of the previous 15 bars has been above the 12 ema, while the 12 ema has also been above the 21 ema for the past 15 bars. In essence a scan for a trend. I can make something through the condition wizard but it becomes very lengthy and a hassle to change (I have attached a picture that may give insight as to how I am going about it now). I did try to find something and came across this post but had some difficulty understanding. Would definitely appreciate some direction! Thank you again.

https://www.hahn-tech.com/ans/cat/scans/

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Posted by (Questions: 3, Answers: 0)
Asked on October 26, 2021 7:01 pm
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I think this solution is going to expand your horizons and understand there is a lot more you can do with this Condition Wizard then you have imagined.

Instead of using "bars ago" which requires you to list each and every value from current bar to 15 bars ago, we will use "within bars", which allows us to write a single statement that checks for a condition within the most recent 15 bars. In this way we can build one condition instead of 15 individual conditions.

The trick here is to flip this thing on it's head. Creating the exact opposite of the condition we are trying to achieve. Then place this condition in a new "Condition Group" named "None of the following".

So if we want to find stocks that have remained above 12 ema for 15 bars we build a condition for "close below 12 ema within 15 bars". Got that? The exact opposite of what we want for the scan results. Then apply that condition to the "None of the following" condition group.

I have included some screenshots to show how to set this up. Drawings have been added to emphasize specific elements. Also included is the list of current scan results with a chart showing one of the stocks in the scan results list.

If any of this is completely foreign to you, please take some time to view the following videos which will explain everything I have built for this solution:

https://www.hahn-tech.com/thinkorswim-scans-beginner-to-advanced/

https://www.hahn-tech.com/thinkorswim-condition-wizard/

 

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Posted by (Questions: 37, Answers: 4084)
Answered on October 27, 2021 8:28 am