The following is code for the Think or Swim scan page. You can just copy here and paste in there and it should work..
Today's scan on daily returned 22 symbols
I have it paired with standard RSI & MACD for reference
What it does..
Close of last two candles must be > the 62 EMA
Current close (price) must be within 2% of the 62 EMA
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How I use it..
Look over the results in search of the best setup
(ie; PA above most resistance, RSI pointing up, MACD showing improvement)
When / if you find a good entry (breaking to new recent high?) after entry stop loss should be placed
a little below the 62 EMA & or the low of two candles back (See example)
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# When / if a trade is taken stop should be placed below the low _
# of candle 2 back from current and / or below the 62 EMA
def MovAvg_62 = MovingAverage(averageType.exponential, HLC3, 62);
def low_price = low;
def EMA_Break_62 = close is greater than MovAvg_62 and close from 1 bar ago is greater than MovAvg_62;
def ma62 = MovAvgExponential(close,62,0,no);
def s = ma62*0.02;
def ThirdCandleBreak = close is greater than high from 1 bar ago and close > Lowest(low_price);
def condition = EMA_Break_62 <> 0 and ThirdCandleBreak <> 0 and absvalue(close - ma62) is less than or equal to s;
plot scan = condition;
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