scan for price not hitting weekly pivot

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Hi Pete,

Is there a way to scan my watchlist of stocks and create another watchlist containing stocks where their price did not hit the current week pivot (yet) or did not hit the prior week pivot?

Thank you

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Posted by (Questions: 1, Answers: 1)
Asked on November 3, 2020 4:43 pm
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Private answer

Study Filters for custom scans cannot support secondary aggregation periods. So it will not be possible to build a custom scan that references pivot levels from the weekly time frame unless you set the Study Filter itself to the weekly time frame.

That being said, if you can live with those limitations you can build this using the Condition Wizard without having to write a single line of code.

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Posted by (Questions: 37, Answers: 4118)
Answered on November 3, 2020 5:49 pm
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Hi Pete, Thank you for your quick response.  Yes, I set the study filter to the weekly time frame. That's not a problem. I entered my pivot study in the Condition Wizard but wasn't sure which condition in the middle box I should use (crosses, crosses above, crosses below, etc.). I tried using "is true" and "is false" but was also getting stocks where price hit the current pivot. Also tried changing # of bars from 1 to 5 and same results. Any recommendations? Thank you.
( at November 4, 2020 1:53 pm)
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If you are checking if a specific level has not been hit then you have two possible scenarios. The price has remained above the pivot or the price has remained below the pivot. If the price has remained below the pivot then your filter should be "high < pivot". If the price has remained above the pivot then your filter should "low > pivot". The question is, how do you know which to apply? The current price is the close. So if the current close is above the pivot, you check if the low is also above the pivot. So your check is two fold. Close > pivot and low > pivot. For the other side of that you create an entirely different study filter for: Close < pivot and high < pivot. Then you add those study filters to the appropriate "Condition Group", such as "Any of the following".
( at November 4, 2020 2:23 pm)
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Thank you very much Pete!
( at November 4, 2020 2:52 pm)
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