AccumDistPrVol Scanner – Extreme level signal scanner


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Hello Pete,

I want to see if you can help or guide me.

Probably I am the other person that use this indicator…. :)….

I want to see if possible to build an scanner to signal when the indicator hit the extreme of either side. Here is an image where I circle the points.

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Posted by (Questions: 3, Answers: 4)
Asked on April 9, 2020 1:24 pm
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There is no way to determine the so-called "Extreme" levels for this indicator. Not the way you can with something like the RSI or Stochastic. The range of this indicator is based upon the price of the stock being charted. To demonstrate this to yourself you can simply compare a chart of AMZN, AAPL and QQQ. When you compare those charts you will find an extremely large difference for the values of this indicator. So if you want to generate signals to capture those points you marked on the chart you will need to devise a way to measure those areas. But not in terms of absolute values, but rather in terms of Highest over 'X' bars OR apply a moving average to the chart study and signal on the crossing points OR a new high value compared to 'X" bars ago. Lots of different ways to slice this. So go back to the drawing board and figure out how you compute this through a mathematical formula which can be converted to code.
( at April 9, 2020 2:51 pm)
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Thanks Pete, very much appreciate it. I have found another way to scan for it, I will submit it now.
( at April 14, 2020 3:46 am)