Could TOS’s “Impulse” Indicator be utilized as a wathclist scanner?

Converting this study to a color-coded custom watchlist column is super easy. Although in practice, it takes forever to load. Ok not forever. But I had to wait 15-20 minutes for Weekly, Daily and Hourly columns to fully load a watch list of a few dozen stocks. This may impact the utility of this solution. It may work. But it may not respond quickly enough at lower time frames.

Not sure why some folks refer to this as a ‘scanner’. But on this sight we make a clear distinction in terms. A watchlist displays data for a list of stocks. A scanner returns a list of stocks meeting a specified criteria.

The true definition of a “Watchlist Scanner” would be when you create and save a custom scan, then apply that scan as the watchlist name. In that case, the scan runs dynamically within the watchlist and the list of ticker symbols are updated as the scan results are updated. What we have here is a custom watchlist column. Not a watchlist scanner.

So the code is really lightweight. No idea why it takes forever to load. The only real changes I’ve made here is to cut out some of the fat. I also added a value. So that you can sort these columns. A value of +1 is bullish, -1 is bearish and 0 is neutral. Screenshot shows a three chart of AAPL, along with the watchlist.

Here is your code:
input length = 13;
input paintBars = yes;
def EMA = ExpAverage(close, length);
def MACD = ExpAverage(close, 12) - ExpAverage(close, 26);
def MACDHist = MACD - ExpAverage(MACD, 9);
def GreenPrice = EMA > EMA[1] and MACDHist > MACDHist[1];
def RedPrice = EMA < EMA[1] and MACDHist < MACDHist[1];
AssignBackgroundColor(if !paintBars then Color.CURRENT else if GreenPrice then Color.UPTICK else if RedPrice then Color.DOWNTICK else Color.BLUE);
plot data = if GreenPrice then 1 else if RedPrice then -1 else 0;