The Bullish Percent Index measures the percentage of stocks in an index that are on Point & Figure Buy Signals; it is a useful tool for gauging the overall strength and direction of the market, as well as identifying potential reversals and opportunities; this feature was introduced in October 2023
Bullish Percent Index can be based on P&F Charts or even a Line Chart
The Bullish Percent Index (BPI) measures the percentage of stocks in an index on Point & Figure Buy Signals, offering traders and investors a valuable tool to assess market sentiment, identify trend reversals, and uncover opportunities.
Continue reading “Bullish Percent Index: A Powerful Sentiment Indicator for Traders and Investors”The High-Low Index, or New Highs-New Lows Ratio, or High-Low Range Index, is a technical analysis tool, a relatively simple but effective indicator, that can provide valuable insights into market dynamics and can be used to gauge the overall market sentiment and identify potential trend reversals or trend confirmations; this feature was introduced in October 2023
High-Low Index can be based on P&F Charts or even a Line Chart
This is an example of a scan that demonstrates the enhanced “relperf()” and “rank()” functions; these functions can be used to compute and compare the % change of a portfolio’s components with any Index
This functionality was introduced in October 2023 (Version 23.10.1)
Below is an illustration of an enhanced scan that can be created using the Advanced Scanner in ChartAlert.
List symbols where relperf(cl,3,m) > Symbol Value(relperf(cl,3,m),NIFTY)
Add Column cl
Add Column Symbol Value(c,nifty) as CNifty
Add Column relperf(cl,3,m) as RP
Add Col Symbol Value(relperf(cl,3,m),NIFTY) as RPNifty
Add Column rank(relperf(cl,3,m), DESCENDING) as Rank
Sort on Column Rank
Apply to NiftyBelow is a breakdown of the scan presented in a step-by-step manner.
This is an example of an optimized scan that demonstrates the enhanced (“Set chart type to…”) function; it can replace the need for writing several scans (as was required in the older versions of ChartAlert)
This functionality was introduced in October 2023 (Version 23.10.1)
Below is an illustration of an optimized scan that can be created using the Advanced Scanner in ChartAlert.
This one enhanced scan now replaces the need for maintaining two separate scans as was required in the previous versions of ChartAlert.
[BEGIN Bullish SuperT Candlestick]
List symbols where Close has crossed above SUPERTREND(10,3)
Add Column C
Add Column SUPERTREND(10,3) as SuperT
Apply to NiftyTotal
Plot Template SuperTrend heikinAshi
[END]
[BEGIN Bullish SuperT HeikinAshi]
List symbols where Close has crossed above SUPERTREND(10,3)
Add Column C
Add Column SUPERTREND(10,3) as SuperT
Set chart type to Heikinashi
Apply to NiftyTotal
Plot Template SuperTrend heikinAshi
[END]Below is a breakdown of the scan presented in a step-by-step manner.
The Percent of Stocks above their own xxx Moving Average Index is a market breadth or sentiment indicator that is used to assess the overall health of a stock market or a particular sector within it; it helps gauge the strength of the prevailing trend and identify potential turning points in the market; this feature was introduced in October 2023
Percent of Stocks above their own Moving Average Index can be based on P&F Charts or even a Line Chart
The Percent of Stocks Above Their Moving Average is a market breadth and sentiment indicator that helps traders assess the overall market sentiment, identify trends, and spot potential reversals.
Continue reading “Percent of Stocks above their own Moving Averages: A Powerful Market Sentiment Indicator for Traders”This is an example of an optimized scan that demonstrates some enhanced functionality; it can replace the need for writing several scans (as was required in the older versions of ChartAlert)
This functionality was introduced in October 2023 (Version 23.10.1)
Below is an illustration of an optimized scan that can be created using the Advanced Scanner in ChartAlert.
This one enhanced scan, wherein multiple parameters/ variables can now accept multiple values/ inputs, now replaces the need for writing at least 26 separate scans as was required in the previous versions of ChartAlert.
ATTN: This scan is similar to the earlier scan (refer to Example 13: Multiple Parameters Multiple Values; Yearly PP; Top 20 Bottom 20), with the exception that this scan will list the Top 20 and Bottom 20 symbols of the last 13 months (including the ongoing month).
[BEGIN Top20 M2 mths ago]
Set OptVar M1 = Min:1, Max:13, Step:1
Set OptVar M2 = Min:0, Max:12, Step:1
List symbols
Add Column C M1 bars ago as C1
Add Column C M2 bars ago as C2
Add Column Date M1 bars ago as D1
Add Column Date M2 bars ago as D2
Add Column Chg%(C M2 bars ago, C M1 bars ago) as chg%
Sort on Column chg% desc limit 20
Apply to Nifty
Set periodicity to Monthly
[END]
[BEGIN Bot20 M2 mths ago]
Set OptVar M1 = Min:1, Max:13, Step:1
Set OptVar M2 = Min:0, Max:12, Step:1
List symbols
Add Column C M1 bars ago as C1
Add Column C M2 bars ago as C2
Add Column Date M1 bars ago as D1
Add Column Date M2 bars ago as D2
Add Column Chg%(C M2 bars ago, C M1 bars ago) as chg%
Sort on Column chg% limit 20
Apply to Nifty
Set periodicity to Monthly
[END]Below is a breakdown of the scan presented in a step-by-step manner.
This is an example of an optimized scan that demonstrates some enhanced functionality; it can replace the need for writing several scans (as was required in the older versions of ChartAlert)
This functionality was introduced in October 2023 (Version 23.10.1)
Below is an illustration of an optimized scan that can be created using the Advanced Scanner in ChartAlert.
This one enhanced scan, wherein multiple parameters/ variables can now accept multiple values/ inputs, now replaces the need for writing atleast 44 separate scans as was required in the previous versions of ChartAlert.
[BEGIN Top20 Year1-Year2]
Set OptVar Year1 = Min:2001, Max:2022, Step:1
Set OptVar Year2 = Min:2002, Max:2023, Step:1
Set Var Bar1 = BARATDATE("31-Mar-Year1")
Set Var Bar2 = BARATDATE("31-Mar-Year2")
Set Var C1 = ValueAt(Bar1)
Set Var C2 = ValueAt(Bar2)
List symbols
Add Column C1
Add Column C2
Add Column Chg%(C2,C1) as chg%
Sort on Column chg% desc limit 20
Apply to Nifty
[END]
[BEGIN Bottom20 Year1-Year2]
Set OptVar Year1 = Min:2001, Max:2022, Step:1
Set OptVar Year2 = Min:2002, Max:2023, Step:1
Set Var Bar1 = BARATDATE("31-Mar-Year1")
Set Var Bar2 = BARATDATE("31-Mar-Year2")
Set Var C1 = ValueAt(Bar1)
Set Var C2 = ValueAt(Bar2)
List symbols
Add Column C1
Add Column C2
Add Column Chg%(C2,C1) as chg%
Sort on Column chg% limit 20
Apply to Nifty
[END]Below is a breakdown of the scan presented in a step-by-step manner.
This is an example of an optimized scan that demonstrates the enhanced (“Set report type to…”) function; it can use “Multiple Scan Blocks” to mimic a screener; it can replace the need for maintaining several scans (as was required in the older versions of ChartAlert)
This functionality was introduced in October 2023 (Version 23.10.1)
Below is an illustration of an optimized scan that can be created using the Advanced Scanner in ChartAlert.
This one enhanced scan now replaces the need for writing two separate scans as was required in the previous versions of ChartAlert . . . It actually functions like a screener by incorporating two sections of code (each marked with its own BEGIN/END statements) designed to identify and analyze two separate conditions.
ATTN: This scan is an identical copy of an earlier scan (refer to Example 4: Multiple Scan Blocks (like a screener)), with the exception of the final line (“Set report type to SUMMARY”).
[BEGIN close>ema(20)]
List symbols where c > ema(20)
Add Column Close
Add Column ema(20) chart(lw=2)
Apply to NIFTY500
[END]
[BEGIN close<ema(20)]
List symbols where c < ema(20)
Add Column Close
Add Column ema(20) chart(lw=2)
Apply to NIFTY500
[END]
Set report type to SUMMARYBelow is a breakdown of the scan presented in a step-by-step manner.
Sectoral Rotation, or Relative Rotational charts, are a powerful visual tool in assessing how different sectors within a portfolio compare in terms of their relative strength and momentum; it’s easier to spot which sectors are getting stronger or weaker compared to a benchmark, thus highlighting possible changes in market leadership and trends in asset performance
This is an example of an optimized scan that demonstrates the enhanced (“step”) (“Cross Variables”) functions; it can replace the need for writing several scans (as was required in the older versions of ChartAlert)
This functionality was introduced in October 2023 (Version 23.10.1)
Below is an illustration of an optimized scan that can be created using the Advanced Scanner in ChartAlert.
This one enhanced scan, wherein multiple parameters/ variables can now accept multiple values/ inputs for scanning as well as create a processing matrix between inputs, now replaces the need for writing atleast twelve separate scans as was required in the previous versions of ChartAlert.
[BEGIN timeP1 XABV timeP2]
Set OptVar timeP1 = min:10,max:30,step:10
Set OptVar timeP2 = min:50,max:200,step:50
Cross OptVar
List symbols where SMA(timeP1) crossed above SMA(timeP2)
Add Column Close
Add Column SMA(timeP1) chart(c=red, lw=2)
Add Column SMA(timeP2) chart(c=green, lw=2)
Apply to NIFTY500
[END]Below is a breakdown of the scan presented in a step-by-step manner.