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Moving Average Crossovers In the Past Trading Days
One way to discover stocks that are in a trading range and may move in one way or another in the coming days is to count the number of close and moving average crossovers over the previous days. For example, a stock that had four crossover during the last 10 trading days is certainly not a trending stock, but it may start an up or down trend if its share price breaks the support or resistance line. It is well known that often the best trends occur after a sideways market.
The Moving Average Crossover technical indicator returns the number of crossovers for a given past period. The indicator name is "MACross" and you are allowed to enter the lookback period that is used to calculate the simple moving average as well as the period to use to look for past crossovers. A crossover is detected when then close price crosses above or below the SMA. Crossover count is calculated using the "SUM" function, which is a function that sums the values of an array for the previous N-Bars.
One example of a trading rule using this technical analysis indicator is:
rule = MACross(10, 15) > 3;
This trading rule returns a signal if there are more than three crossovers between the close price and its 10-Bar simple moving average during the last 15 trading bars.
