EasyLanguage script to scan for stocks with Positive Divergence
Budget: $30 – $250 USD
This project is to write a script (for a scan) in EasyLanguage that identifies stocks with "Positive Divergence."
The more specific criteria is as follows:
1. Scans for / identifies stocks that have Positive Divergence at the close of trading for the day (the American stock markets).
2. Positive divergence happens when these two events happen on the same day:
(a) Stock price made a lower-low (intraday / during the trading day). Detail: The "lower low" is defined as the lowest-low for the past one month or 30 days. The lower low is based on intraday lower-low of the day (today). i.e., the "lower-low is not based on the closing price, but on the intraday price range.
(b) RSI (14-period) made a higher-low (end of day): Details as follows:
(i) The 14-period RSI made a higher-low based on its close at the end of today's date.
(ii) The RSI at the close of "today" is:
(a) higher than yesterday's low for the RSI, and
(b) The present "low" for the RSI is higher than it's previous "low" in the past one month or 30-day period. i.e., the RSI's previous "low" (in the past 30 days) would have occurred when the stock price made it's previous low in the past 30 days.
See attached graphic which shows a perfect example of Positive Divergence, with details. This example is a perfect model for the scenario that I want to identify.
The more specific criteria is as follows:
1. Scans for / identifies stocks that have Positive Divergence at the close of trading for the day (the American stock markets).
2. Positive divergence happens when these two events happen on the same day:
(a) Stock price made a lower-low (intraday / during the trading day). Detail: The "lower low" is defined as the lowest-low for the past one month or 30 days. The lower low is based on intraday lower-low of the day (today). i.e., the "lower-low is not based on the closing price, but on the intraday price range.
(b) RSI (14-period) made a higher-low (end of day): Details as follows:
(i) The 14-period RSI made a higher-low based on its close at the end of today's date.
(ii) The RSI at the close of "today" is:
(a) higher than yesterday's low for the RSI, and
(b) The present "low" for the RSI is higher than it's previous "low" in the past one month or 30-day period. i.e., the RSI's previous "low" (in the past 30 days) would have occurred when the stock price made it's previous low in the past 30 days.
See attached graphic which shows a perfect example of Positive Divergence, with details. This example is a perfect model for the scenario that I want to identify.