Pullback ADX
Looking for issues that may have pulled back to the 20 day ma and are in a strong trend as measured by adx.These are typically volatile stocks that have good potential for short term trading.
input="udu5550.lst";
output = "PBADX.lst";
exchange = nyse,amex,nasdaq;
DaysToLoad = 520; // Load 2 years of data to properly calculate the adx
if adx(0) >= 30 and
close(0) >= MovAvg( 0 , 20 , cl ) * .9 and
close(0) \<= MovAvg( 0 , 20 , cl ) * 1.1 and
AvgVol( 0 , -29 ) > 1000000
then
println symbol;
endif;