Price Drop Scanner

[RadianChoi]

Hey Guys,

I was hoping to create a simple price drop scanner that would alert if a stock dropped more than X% in Y minutes. I feel like this should be easy to do but can't seem to figure it out. 

Any help would be appreciated

Thanks,

RC

[Mike Medved]

You would have to use advanced mode of that. Create a FIFOQueue of the Y (as in Y minutes) size as a state variable and add the Close to it. Then you can get the high and low from the FIFOQueue and compare it to the current value.

Help for FIFOQueue: https://www.medvedtrader.com/trader/WebHelp/circbuffer_class.htm

the example at the end of this page should help too: https://www.medvedtrader.com/trader/WebHelp/state_keeping.htm

 

 

[RadianChoi]

Thanks, Mike! I'll give it a go and report back.

[RadianChoi]

@Mike Medved I've read through both of those posts and I honestly don't even know where to start. Not sure how to create a FIFOQueue or do the comparison you are talking about. 

Do you have any more basic explanations written up? Or could you possibly start me off? Would really appreciate it.

 

[Mike Medved]

LOL. Advanced mode is really for people who know (somewhat) how to code and a little of C# syntax.

Ok I will make one and post it in a bit.

[Mike Medved]

FIFOQueue SavedPrevCloses;
FIFOQueue PrevCloses;
 
/// <summary>
/// Is called at start of paintbar calculation, should be used to initialize anything needed for the paintbar
/// </summary>
private void PaintbarInitialize()
{
 
}
 
/// <summary>
/// Holds paintbar state - fill with variables needed to be preserved for next paintbar calc
/// </summary>
private struct PaintbarState
{
}
 
/// <summary>
/// Holds current PB state - use to calc PB, changes to it carry over to next PB calc
/// </summary>
private PaintbarState CurrentState;
 
/// <summary>
/// Holds saved PB state - internal
/// </summary>
private PaintbarState SavedState;

Double PercentDrop = 0;
 
/// <summary>
/// Is called at start of paintbar calculation, should be used to clear the paintbar state
/// </summary>
private void PaintbarClearState()
{
    DefinePaintbarParameter("Period", "Period", true, 1, 1000, 1, 10);
    DefinePaintbarParameter("Percent", "Drop %", false, 0.001, 100, 0.1, 0.1);
    var N           = Convert.ToInt32(GetPaintbarParameter("Period"));
    PercentDrop     = Convert.ToInt32(GetPaintbarParameter("Percent"));
    CurrentState    = new PaintbarState();
    SavedPrevCloses = new FIFOQueue(N);
    PrevCloses      = new FIFOQueue(N);
}
 
/// <summary>
/// Saves paintbar state (called internally).
/// </summary>
private void PaintbarSaveState()
{
   SavedState = CurrentState;
   PrevCloses.CopyTo(SavedPrevCloses);
}
 
/// <summary>
/// Restores paintbar state (called internally).
/// </summary>
private void PaintbarRestoreState()
{
   CurrentState = SavedState;
   SavedPrevCloses.CopyTo(PrevCloses);
}
 
public void MainCalculation()
{
  // calculate the EMA of the EMA
  PrevCloses.Add(Close);
 
  Double high, low;
  PrevCloses.GetHighLow(out high, out low);
  if (Close < high*(1-PercentDrop/100))
  {
      SetColor(Color.Lime); // if used as a paintbar
      SetScanResult("Dropped!");  // if used as a scan
  }
}

 

[RadianChoi]

Thanks, Mike! Really appreciate it.

Where do I input values for my percentage drop variable and time variable? Also, does the scanner constantly run and then alert me when conditions are met for a certain company?

[Mike Medved]

In the Scanning tab there is a button to edit parameters - they are at bottom.

As long as the portfolio updates with RT quotes, the scanner runs on every update in it and lights up the results. That's the whole point

[RadianChoi]

Okay, cool! I have it all set up and running now.

Thanks again, Mike.

Happy New Years

[Mike Medved]

Hope it is profitable Happy New Years to you and yours.

[RadianChoi]

Hey @Mike Medved just wondering if there is an option to have the scanner alert you with a sound and popup? I typically keep the scanner running in the background and need these notifications to ensure I can jump to the chart.

Edited January 1, 2018 by RadianChoi

[Mike Medved]

Just add a TriggerAlert to the code as well as SetScanResult

[RadianChoi]

@Mike Medved Hey Mike, I added it to the last paragraph as so:

Double high, low;
  PrevCloses.GetHighLow(out high, out low);
  if (Close < high*(1-PercentDrop/100))
  {
      SetColor(Color.Lime); // if used as a paintbar
      SetScanResult("Dropped!");  // if used as a scan
      string Msg = "Base Broken";
      TriggerAlert(Msg);
  }

and it's still not popping up? Should I be adding it somewhere else?

 

[Mike Medved]

No, that should be it. When you're editing scan parameters, you can see the "Alert" button - you have to set various alert parameters and notifications.