Chart Scanner on Bollinger Bands

Q:  I want the scanner to tell me which symbols on the quote list has price above/below the first band in a 20 day BB study (above +1 Std , below -1 Std).

A:  This example will walk you through the steps.

1)  Create a quote page of symbols to scan.   In this example the vendor’s symbol list is used, but a custom list could have been used.  Here is the vendor list and quote page.

2) Open a daily chart for each symbol to verify the chart is complete. Refreshed the chart if needed. Charts can then be closed.

3) On one chart, put on a Bollinger band and configure it for a 20 Average and 1 multiplier. Now add a DYO configured this way to test for Close exceeding either upper or lower bands.

Variable [8] has the upper band value, [9] has the lower band value, and [3] is the flag that is True when close exceeds either band.  These 2 studies are then saved as a template named BollingerTest.

4) Open Setup | Chart Scanner, and configure the form like this.

Name this setup Bollinger and use the Save button to remember these settings after filling in the form. That way it can be retrieved.

The box to use the Vendor quote page for eSignal is checked. Load each chart with the BollingerTest template. Chart time frame is Daily.

The Criteria for adding to the report is when Variable [3] is True.  [3] was set by the DYO.

The report will have 4 columns with labels Symbol, Close, Upper, Lower. The format is caption = value.  [$S] is the token for showing the chart symbol. [$C] is the token for the Close price.  [8] and [9] are variables populated by the DYO for the upper and lower Bollinger bands.

5)  Now, click the Run Scanner button and get a report of results like this.

Of the symbols on the quote list, 7 triggered the criteria. AAPL Close is 587.45 which exceeded the Upper Bollinger band.   Here is the AAPL chart as confirmation.

The price has moved a few cents from when the scan was run and the chart image captured for this example.