Translate from MetaStock for Thinkscript RSI(2)?


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Hi Pete,

See attached screen shot. Please show how to convert this MetaStock code to Thinkscript scanner using RSI(2). Thank you.

 

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Posted by (Questions: 23, Answers: 57)
Asked on October 18, 2017 12:52 pm
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We need to avoid duplicate title names. Let’s not title all of these “Translate from metastock….”. Nobody will ever be able to search for a find a solution. What is this scan called? It cannot be called RSI(2). Because that is nothing more than saying scan for a two period RSI reaching over bought or oversold. That is all you have there.

And you have the close between 20 and 120 per share. Then the average volume has to be greater than 500,000 and the close has to be above the 200 simple moving average. There is nothing here that needs any code. It can be built very simply from the standard filters included in the Thinkorswim platform. Where are you getting this stuff? And don’t they bother to explain what these are?

( at October 18, 2017 4:49 pm)

From a webinar. No, they didn’t tell me. I’ll try to build it from the standard filters and see how it turns out. Thanks!

( at October 18, 2017 5:58 pm)

Ok, well check the terms and conditions. We are not here to reverse engineer someone else’s work. If you see something on a webinar and you feel it can make you money, than pay them for their work. I only expect the same when folks are viewing my own premium indicators.

( at October 18, 2017 6:53 pm)

They were given it out for free (in fact, they encouraged to convert it to our own trading platform). It was just a study and no guarantee to make money.

( at October 19, 2017 5:53 am)

Oh, ok. That is good to know then. Sorry but have a hair-trigger when it comes to folks trying to get me to reverse engineer other developers work. I’ll go ahead and post a screenshot later, showing how this one is built using standard items included in Thinkorswim scan engine.

( at October 19, 2017 7:41 am)
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Ok, this is a very basic scan based on a standard RSI using a period length of 2. The rest of the filter is just checking share price, average volume and position of price relative to a 200 moving average.

Not sure why they presented this as a formula, as it would have been so much easier to write this out in plain english. As I just did.

I preset a series of screenshots showing how to use the condition wizard to build the RSI and the moving average filter. These are combined together into a signal study filter. The last screenshot shows the entire scan, which is where you see the standard filters for Last price between 20 and 120 and average volume greater than 500,000.

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Posted by (Questions: 37, Answers: 3866)
Answered on October 19, 2017 9:25 am

Thank you, Pete! I also implemented other condition based on what you showed here.
My other Post from “Connor” was given out for free and liberty to convert to TOS platform.

( at October 19, 2017 11:35 am)

Thanks for update on the other post. You will see that I just posted a solution to that one as well. Check it out. https://www.hahn-tech.com/ans/translate-from-metastock-for-scanner/

( at October 19, 2017 11:49 am)

My question below. Why does it say “answered” but there’s no answer yet?

( at October 19, 2017 2:18 pm)

It has indeed been answered. In fact this discussion is taking place in the comments section of the answer.

( at October 19, 2017 2:40 pm)
I’m sorry I don’t see your answer about this issue (i looked over the comments again). The issue is – I noticed something on the average volume. It should be greater than 500,000. Why did it select those stocks that have less than 500,000 (see screen shot)?
( at October 19, 2017 2:45 pm)
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I noticed something on the average volume. It should be greater than 500,000. Why did it select those stocks that have less than 500,000 (see screen shot)?

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Posted by (Questions: 23, Answers: 57)
Answered on October 19, 2017 12:18 pm

Is it possible you are comparing intraday volume? Intraday volume will never match daily volume. Besides that, the code is not looking at gross daily volume. It is looking at a moving average of the daily volume. So any given single day may easily be less than 500k volume, but the 14 day average will be greater than 500k.

( at October 19, 2017 2:44 pm)
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Sorry that you have become disoriented. The screenshot below, of this very post, should help clear things up.

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Posted by (Questions: 37, Answers: 3866)
Answered on October 19, 2017 3:15 pm
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Kim,

I am always looking for mind like investors, from your line of requests, we seem to be looking for similar strategies.

would mind if we connect via email ?

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Posted by (Questions: 13, Answers: 13)
Answered on October 21, 2017 11:10 am

Quick tip. First, we definately encourage this sort of thing. However when sharing emails on a user forum we must be careful about the bots that crawl websites looking for email addresses. You don’t want to type the exact email address in any user forum. Otherwise you will be bombarded with spam. So I suggest you use this sort of format: dryheat3 at hahn-tech dot com. Ok? Someday the bots will be able to translate that, but for now this is the best way to share email addresses in a forum.

( at October 21, 2017 12:49 pm)
Hi TJD, Yes, we can connect via email. Pete’s suggestion is a good one. We should follow that format.
( at October 21, 2017 5:53 pm)
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ok good, lets connect

darwishes at yahoo dot com

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Posted by (Questions: 13, Answers: 13)
Answered on October 21, 2017 9:42 pm