RSI Scan not capturing properly

[Doug Hayman]

I have a 1,000+ symbol portfolio, and I'm running a simple hard-coded scan that consists of 1 line:

    If (RSI_Line(14,1) < 35) {TriggerAlert(); SetScanResult(true); }

I'm running the scan on Intraday, 5-minute bars, with Extended Hrs set to "Default".  Data Source TD Ameritrade.

I have an analogous 5-minute intraday chart running as well, with RSI being graphed as Period 14, Signal 1, Wilders Smoothing, RSI Type Standard.

As of 12:25 PM EDT, several graphs that I've thumbed through from my portfolio have an RSI value of less than 35.  A couple of examples are:

AVP - 25.5177

AIZ - 30.4643

Why is my intraday scan not picking these symbols up???

Thanks in advance.

[Doug Hayman]

Further to above, when I Clear ALL Intraday data prior to my re-run of scan, I seem to be getting a larger scan results back,  but unsure if all are being captured correctly.

Could the large size of portfolio be effecting things here?  Is there any value to running scan against a created Watchlist alternatively?  I'm trying to do more testing here, to narrow down the issue.

[Jerry Medved]

Doug, please send me your settings so I can check what's up. Go to FILE / HELP => Send Log/Settings to support menu (from Dashboard or Portfolio)

And add the Post URL in the comment.  Do not check any check-boxes.

[Doug Hayman]

Jerry,,

I sent you Settings earlier.

Not sure how much value I'm adding here, but once market closed at 4 PM EDT, this hard-coded RSI scan seems to be working fine.  The anomalies above seem to manifest during trading hours, when data is constantly coming in.

Doug

 

[Jerry Medved]

OK I see. the issue has to do with how many days of data MT is using for the computation when doing a scan. For charts, it just does a full backfill and uses as much as is there, so not an issue. For scans, using 100 days or 60 days of data for 1500 symbols would use a ton of memory and slow things down, so MT tries to analyse the scan to figure out how much is the minimum needed.  For RSI with RSI Type = standard, the requirement is way more than what MT is figuring, so it was only doing 1 day backfill. If you just get 1 day backfill on a chart and look at 5 min frequency, you will see the RSI is basically flatline near the 50 mark, which is why stuff is not working.

Mike is out for a few more days (this is his area) but I did a crude tweak to get around the issue for the time being. Gave you an update.

[Doug Hayman]

Thanks Jerry for looking into this and discovering this issue.  I got your update and just installed, thanks for that, I appreciate it.  FYI, I plan on testing stuff for a bit before using MT live with my trading, so if you ever want me to run with a Beta version (like the one you just sent me), just ping me and let me know.  I'll be happy to do that.

FYI, I'm running with the new beta version you Emailed me, and Scan Results for my test above look much better.