I don't know how to code and thought maybe someone had uploaded a script using the 50:50 method developed by Schaap. He also did ADX work.

thanks

No one have uploaded it so far but you might help the process by shedding light on the system's rules.

I have the rules written for Strategy Desk and they are pretty simple. I confess I'm a complete newbie at coding and perhaps this can be done simply with drag and drop and then I can name it.

By the way, I believe this was written up in TASC as an article years ago, but I don't know the date now and I don't know if the code was there for WL

Here are the rules as I understand them:

50:50 System
A weekly scan for finding stocks for longer time frames.
On a weekly chart, price bar crosses fully above 50 EMA and RSI-20 crosses above the 50 level in one of three ways: 1) at the same time, or 2) price bar crosses above 50 EMA first then RSI-20, or 3) RSI-20 crosses up above 50 then price crosses above 50 EMA.

Here is the code for Strategy Desk:

ExpMovingAverage[EMA,Close,10,0,W]>
ExpMovingAverage[EMA,Close,50,0,W]
AND Bar[Close,W]>ExpMovingAverage[EMA,Close,50,0,W]
AND Bar[Close,W,1] < ExpMovingAverage[EMA,Close,50,0,W,1]
AND RISI[RSI,20,W]>50 OR
ExpMovingAveage[EMA,Close,10,0,W] >
ExpMovingAveage[EMA,Close,50,0,W] AND
Bar[Close,W}>ExpMovingAverage[EMA,Close,50,0,W]
AND RSI[RSI,20,W]>50 AND RSI[RSI,20,W,1]<50

------For the Exit- (this line not in the code)

Bar[Close,W]<(ExpMovingAverage[EMA,Close,50,0.W]-.25

In addition, price is $10-$40 and a maximum of 100 million shares outstanding.

I digged a bit deeper and couldn't find agreement among different sources. To quote a couple more definitions:

QUOTE:
Basically, it's the 50 day EMA and RSI in tandem on any time frame. If the price goes above the 50 day MA AND above 50 RSI, it's long signal(green signal/arrow up). If the price goes below the 50 day EMA AND below 50 on the RSI, it's a sell signal(red signal dn). Both MA and RSI must be below or above together for this system to work.

This one presents a different view of the system as a trend pullback strategy. It seems to be the most authentic b/c it's from the genuine Schaap article called "The 50/50 Strategy":

QUOTE:
The 50-50 Strategy
Buy when:
• Stock is uptrending and pulls back to the 50-day MA
• RSI 14 is oversold and reverses
• RSI 21 is above 50
• Price reverses upward (see below)
• Initial stop-loss is .25 below the low of the reversal
Exit at the first close below the 50-day MA.

Nevertheless if we accept your rules, they are pretty easy to accomplish in Wealth-Lab 6 without even having to code. You can do it with the help of the Rule Wizard. The use of Multi-Condition (MC) Group feature fits the rule that requires the fuzzy order of triggering the Price/EMA signals.

Thanks, Eugene! Glad you found the article. I had only heard it was there but had never read it. It sounds like it is different from his book "Invest With Success", and the formula I listed was from his book. [In it he also discusses the pullback to the 50 week EMA as an entry strategy]. Searching for new crossovers as the formula shows is another entry strategy, but on a weekly chart.

His book specifically says it's the 50 week EMA, not the daily EMA. I don't know how to to do a 50 EMA on a weekly basis in WL. I was able to set up the rules but only on a daily basis.

However, I looked at your rules and found them very interesting and loved the new ideas it gives me.

Is there a way of setting up a rule on a weekly moving average? I don't know if it's the average for the week or end of week and I'm researching that.

thanks for your help!

It would be possible by first 1) converting the rules to a code-based strategy and adding SetScaleWeekly/RestoreScale or 2) simply selecting Weekly from the Scale dropdown list if you're backtesting on a portfolio or, if you're charting one symbol at a time, by hovering the mouse over the cue on the left of the chart, just above the Volume pane.

Thanks! I will try that. Your help was much appreciated.