Find stocks crossing the Tenkan line of Ichimoku

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Hi Pete,

Good day to you.

Can you create a screener that can scan

First Candle Cross Above/ Below Tenkan,
First Candle Close Above/ Below Tenkan

I had attached with the valid signal sample.

Thanks for your help and support.

Rgds,

JinWei

 

 

 

 

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Posted by (Questions: 1, Answers: 1)
Asked on August 14, 2018 4:51 am
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I am going to need to correct question title: “First Candle Cross Above/ Below Tenkan, First Candle Close Above/ Below Tenkan”

it is too easily mistaken for a duplication. In the first half you use the word cross and the second half you use the word close. After you provide the details requested below I will update the question title to read more clearly.

When I make this correction it will also break the original URL to this post. I will send you an email informing you of the new URL link after the change is made.

BEFORE I CAN PROVIDE A SOlUTION:

There was no attachment.

You need to provide more details. “First cross above”, “First close above”. Seems that what you intended to express here is more like: “first cross of the close above or below the Tenkan”. Is that it?

If so, how do you determine the “first cross”? Is that the first one that appears on the viewable area of the chart? Ignoring all crosses that come after? I think not. So is it the first bar to cross above, after a series of bars that are below? If so, how may bars must be below the Tenkan before we count one as a “first cross”.

You get the point here? during a flat market you could easily have prices chopping back and forth across the Tenkan. One bar below, one bar above, next bar below and another one above…. Are all of those signals valid? I don’t think you want that. I think you are looking for better quality signals than that. So you need to explain things.

( at August 14, 2018 9:27 am)
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Dear Pete,

Sorry for confusion.

Below is my clarification:

I am going to need to correct question title: “First Candle Cross Above/ Below Tenkan, First Candle Close Above/ Below Tenkan”

it is too easily mistaken for a duplication. In the first half you use the word cross and the second half you use the word close. After you provide the details requested below I will update the question title to read more clearly.

Actually, I need to screener.

First Candle Cross Above/ Below Tenkan (this is use for intraday trading)
First Candle Close Above/ Below Tenkan (this is use for swing trading)
When I make this correction it will also break the original URL to this post. I will send you an email informing you of the new URL link after the change is made.

BEFORE I CAN PROVIDE A SOlUTION:

There was no attachment. (I’m sorry, I had post the attachment it fail, the website keep on loading. after refresh few time, I’m manage to post the request but my attachment is gone. I upload again.)

You need to provide more details. “First cross above”, “First close above”. Seems that what you intended to express here is more like: “first cross of the close above or below the Tenkan”. Is that it?

Nope.I need 2 screener

First Candle Cross Above/ Below Tenkan (this is use for intraday trading)
I will use the screener to scan the day chart when market open, after I get a list of 1st candle that currently cross above/below tenkan line in day chart, I will open 1 minutes chart, I will try to play up or play down (base on candle cross up or down). Just Intraday trading only, I will close the position within the day with small profit.

2. First Candle Close Above/ Below Tenkan (this is use for swing trading)

I will use the screener to scan the day chart before market open, after I get a list of 1st candle that currently close above tenkan line in day chart, I will wait for half an hour. if after half an hour, current candle ‘s price above 1st candle closing price, I will long the stock.

on the other way round,

I will use the screener to scan the day chart before market open, after I get a list of 1st candle that currently close below tenkan line in day chart, I will wait for half an hour. if after half an hour, current candle ‘s price below 1st candle closing price, I will short the stock.

If so, how do you determine the “first cross”? Is that the first one that appears on the viewable area of the chart?

example: currently Tenkan line price is 50 (this can check in stockchart.com, I had attach the chart in attachment), when the stock price cross 50, let say 51, then this is the valid signal.

So is it the first bar to cross above, after a series of bars that are below?

Yes. it is

or another way round,

The first bar to cross below, after a series of bars that are above. (trend change, can start plan for bear play)

If so, how may bars must be below the Tenkan before we count one as a “first cross”.

I doesn’t matter. If only 1 candle below the tenkan line, the 2nd day when i do the scanning the stock price is above yesterday close price. this is consider a valid signal as well.

and the other way round.

You get the point here? during a flat market you could easily have prices chopping back and forth across the Tenkan. One bar below, one bar above, next bar below and another one above…. Are all of those signals valid? I don’t think you want that.

Ya. I will manually do the filtering. after run the screener, if I see the specific stock chrat is moving side way, I will drop this stock and move for another stock.

Hope that clarify.
Appreciate your effort and best support that provided.

Wish you have a great day, Pete.

Rgds,

Jinwei

( at August 17, 2018 8:11 am)
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Here is the code to run this scan:

input tenkan_period = 9;
def Tenkan = (Highest(high, tenkan_period) + Lowest(low, tenkan_period)) / 2;
def crossAbove = close[1] < Tenkan[1] and close > Tenkan;
def crossBelow = close[1] > Tenkan[1] and close < Tenkan;
# use this to scan for cross above
plot scan = crossAbove;
# use this to scan for cross below
#plot scan = crossBelow;

Screenshot below shows the scan results for cross above. Also included is a chart that displays each of the signals the scan will pick up.

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Posted by (Questions: 37, Answers: 4118)
Answered on August 17, 2018 8:37 am
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Pete,
Thanks for your help and support.

Rgds,
JinWei

( at August 25, 2018 8:10 am)
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