Day: October 10, 2023

Sentiment Indicators: Bullish Percent Index and Percent of Stocks above their own MAs Index

This post is about the demo videos related to Sentiment Indicators, specifically Bullish Percent Index and Percent of Stocks above their own MAs Index, and using them for charting in ChartAlert

1–2 minutes

The Bullish Percent Index (BPI) 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.

The Percent of Stocks above their own Moving Averages Index is a market breadth indicator (also a proxy for prevailing market sentiment) that is used to assess the overall health of a stock market or a particular sector within it. It helps traders and investors gauge the strength of the prevailing trend and identify potential turning points in the market.

Continue reading “Sentiment Indicators: Bullish Percent Index and Percent of Stocks above their own MAs Index”

Stock Screener – Example 18: Multiple Parameters Multiple Inputs; n-month Price Performance (“Set report type to…”)

This is an example of an optimized scan (n-month price performance) that demonstrates the enhanced “Set report type to…” function; it can also replace the need for writing several scans (as was required in the older versions of ChartAlert)

1–2 minutes

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 a parameter can now accept multiple values/ inputs for scanning, now replaces the need for writing atleast four separate scans as was required in the previous versions of ChartAlert.

ATTN: This scan is similar to an earlier scan (refer to Example 8: Multiple Parameters Multiple Inputs; Yearly Price Performance (“Set report type to…”)), with the exception of certain filters being applied and 3 month price performance being scanned.

[BEGIN 3moPP chg1%-chg2%]
Set OptVar chg1 = -90, 0, 25, 50
Set OptVar chg2 = 0, 25, 50, 1000

List symbols where 
Chg%(cl, cl 3 months ago) >= chg1
and Chg%(cl, cl 3 months ago) < chg2
and close > 100 
and volume > 100000
and trades > 1000

Add Column Chg%(cl, cl 3 months ago) as chg%
  Sort on Column chg% desc
Add Column volume
Add Column TRADES

Apply to NIFTYTOTAL
[END]

set reporttype to summary

Below is a breakdown of the scan presented in a step-by-step manner.

Continue reading “Stock Screener – Example 18: Multiple Parameters Multiple Inputs; n-month Price Performance (“Set report type to…”)”