How can I program this in:
1. Scan for Adx>20 and where the difference between pmi and dmi is less than 17, but have not yet recently crossed, but look like they may cross soon. With pmi green and dmi red, a buy candidate would be one where the pmi is lower than the dmi and is sloping up heading towards the dmi line and about ready to cross the dmi. A sell candidate would be where the pmi is higher than the dmi and the dmi is sloping up about ready to cross the pmi.
2. Visually scan this list for candidates where pmi and dmi are closing together, preferably converging or closing together at a steep angle, rather than meandering sideways.
3. Further refine this list to those stocks that may have other confirming indicators. Like those that appear to have been consolidating and ready to breakout or breakdown by looking at the chart patterns for volume or any signs that would indicate distribution or accumulation, or for any useful candlestick pattern. The general idea is to look for pmi/dmi candidates where the upward momentum is slowing down, reversing and and about ready to tip over for shorts. Or for longs, where the downward momentum has slowed and the buying is starting to pick up about ready to breakout.
4. I'm experimenting with an intraday trade setup that would trade these candidates for breakouts above yesterday's high if the market is trending up. And entering shorts for breakdowns only if the market is trending down.
If you look at enough charts, it looks like the most profitable entries are ones that anticipate and enter before the pmi/dmi crossovers.
At this point, I'm not sure if positive results would be any better just using 1 and 2 versus just 3 and 4, versus 1,2,3, and 4. But it has produced some interesting results.
