RSI Change within Last 3 bar more than 40, Scanner


Good Day Pete,

Hope you are safe. I was looking to make a scanner which can scan stocks that

RSI value change = +40 within last 3 bars. I mean the RSI difference from 1st Bar to last Bar is +40.

And the Bar parameter in 1 min.

I appreciate your help.



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Posted by (Questions: 3, Answers: 4)
Asked on December 23, 2020 2:50 pm
Private answer

I built this using the Condition Wizard, then added -40 to the end of the statement it created.

Screenshot shows the initial condition as well as the modification.

Here is the full text of the code that resulted:

RSI()."RSI" from 3 bars ago is less than RSI()."RSI" - 40

The code checks if the value of RSI from 3 bars ago is less than the current values of RSI minus 40. Should be the same thing as saying the current value of RSI is 40 or more higher than the RSI from 3 bars ago.

Nobody should be trying to run scans on Thinkorswim using anything less than the 5 min time frame. The lag time alone exceeds 1 min because all scans on Thinkorswim are run on their servers. During high volume periods the lag time can be 2-3 minutes for some scans. Seems everywhere I look I see folks running scans on 1 min time frame. I really don't get it. 1 min time frame is full of nothing but noise.

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Posted by (Questions: 38, Answers: 3602)
Answered on December 24, 2020 9:18 am