This is a trading item or a component that was created using QuantShare by one of our members.
This item can be downloaded and used by QuantShare Trading Software.
Trading items are of different types. There are data downloaders, trading indicators, trading systems, watchlists, composites/indices...
You can use this item and hundreds of others for free by downloading QuantShare.
Top Reasons Why You Should Use QuantShare:
Works with US and international markets (stock, forex, options, futures, ETF...)
Offers you the tools that will help you become a profitable trader
Allows you to implement any trading ideas
Exchange items and ideas with other QuantShare users
Our support team is very responsive and will answer any of your questions
We will implement any features you suggest
Very low price and much more features than the majority of other trading software
This item scans the market looking for stocks that are advancing while the majority of other stocks in the same industry are declining.
It calculates the number of advancing stocks and subtracts it to the number of declining stocks for each industry. It then takes stocks that belong to industries that have a positive advance minus decline result. From those stocks, it returns the ones that have a daily rate of return higher than 2%.
I have calculated the advance and decline measures using the composite function. The function takes whether a stock is advancing or not (today close is higher than yesterday's close) and then computes the number of advancing or declining stocks for each industry. The results are grouped by industry because I have added the "industry()" function in the third parameter of the composite indicator. The "industry()" function returns the current stock industry name.
The screen has also an additional rule that prevents it from displaying stocks with no industry field defined.
The screen displays the following columns:
Close: The close price on the screen date
Perf: The daily return
Advance/Decline: Number of stocks that have advanced minus the number of stocks that have declined
Industry: The industry of the analyzed stock