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Bollinger Bands Contraction
January 18, 2016, 8:47 AM
Screeners
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This screener attempt to fetch stocks where the Bollinger Bands width has been decreasing on the daily timeframe (5 days decreased in the same row) and reached a new lowest value over the last 24 weekly periods (approximately 6 months).
Combining with other filters and on specific equity frame, it could retrieve the most relevant stocks that potentially felt asleep before an heavy price expansion.
TIMEFRAME(WEEKLY)
UpperBandW = BollingerUp[20](close)
LowerBandW = BollingerDown[20](close)
BollingerDiffW = UpperBandW-LowerBandW
condition1 = BollingerDiffW<=Lowest[24](BollingerDiffW)
TIMEFRAME(DAILY)
UpperBandD = BollingerUp[20](close)
LowerBandD = BollingerDown[20](close)
BollingerDiffD = UpperBandD-LowerBandD
condition2 = BollingerDiffD[5]>BollingerDiffD[4] AND BollingerDiffD[4]>BollingerDiffD[3] AND BollingerDiffD[3]>BollingerDiffD[2] AND BollingerDiffD[2]>BollingerDiffD[1]
SCREENER [condition1 AND condition2]
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Filename:
Bollinger-Bands-Contraction.itf
Downloads:
481
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