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Custom Indicators
Name: The Average Peak Excursion
Description:

In the “The Average Peak Excursion” article, Chris Young described the APE as a tool to select stocks that tend to yield higher returns and stocks with better relative reward vs. risk performance. Besides, the APE allows determining the best trading time frame to maximize return.

Tradecision NeatScan enables creating a custom scan based on the Average Peak Excursion method. In this example, the scan is with the growing tendency > 0.01, but you can modify the coefficient (limit) for tightening or weakening the condition.  

var
   ape1:=sum(abs(open-high),10);
   ape20:=sum( abs(Highest(C,20)-open\20\),10 );
   limit:=0.01;
end_var

return LogN(ape20/ape1)/LogN(20)> limit;

Function Name:


Download to import into Tradecision.

How to use this scan in NeatScan:
  1. Click Download.
  2. Save this scan in a safe location on your hard drive.
  3. Open NeatScan and in Import/Export menu click Import.
  4. Locate the saved file and then click Import.
The scan will be added to the list.
 
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