I developed the ThinkorSwim thinkscript translation of Barchart's "100% Green Buy" method through reverse engineering. It works flawlessly. This is based on nearly decade of personal research for a simple key component of it. This is also would be what I would use as a primary filter for buying stocks.
Then I would focus on high quality ones represented by the following traits:
1) Stock is optionable
2) Above 5 for long or 10 dollars for short to enable hypothecation and financial industry participation
3) Finally either have at least 300,000 average volume commonly or
3.1) Volume of 1,000,000 currently as a shortcut
Enjoy...
#BARCHART GREEN 100% BUY
#04/12/21 12:50 PM
#Usage: Generation of initial long watchlist then scanned for buy triggers (ex: bullish candlesticks, indicator buy signals)
#also can be used to identify a set of stocks to investigate for overbought situations for covered calls option positions using standard RSI
#composite trendspotter
DetrendedPriceOsc("color norm length" = 34, length = 34) > 0
and
#short term indicators
close > simplemovingavg(length=20)
and
simplemovingavg(length=20) > simplemovingavg(length=50)
and
simplemovingavg(length=20) > simplemovingavg(length=100)
and
simplemovingavg(length=20) > simplemovingavg(length=200)
and
#medium term indicators
close > simplemovingavg(length=50)
and
simplemovingavg(length=50) > simplemovingavg(length=100)
and
simplemovingavg(length=50) > simplemovingavg(length=150)
and
simplemovingavg(length=50) > simplemovingavg(length=200)
and
#long term indicators
close > simplemovingavg(length=100)
and
close > simplemovingavg(length=150)
and
close > simplemovingavg(length=200)
and
simplemovingavg(length=100) > simplemovingavg(length=200)
