in search for narrow build up

• 02/13/2022 at 9:41 PM #188206
  gnellas77

  hi gentlemen,

  i m looking for a narrow build up of a stock (tight consolidation) so i tried the “flat base” screener which does not give the results i want. often it fails.

  i also tried to make a screener on my own with bollinger bandwidth indicator. the results are pretty much the same.

  Does anyone have an idea what to use for a screener in order to find a tight consolidation like the case of e.g. an ascending triangle or a build up at a support/resistance level?

  thanx in advance.

  

  gnellas77

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  02/14/2022 at 4:56 PM #188241
  robertogozzi

  There can be many ways to spot a ranging market. Here are a couple of them (#2 is one of favourite):

  #1 (price is sitting within a specified range, within the most recent periods):

  HH = highest[40](high] LL = lowest[40](low) IsRange = (HH - LL) <= 20 * PipSize

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  HH = highest[40](high] LL = lowest[40](low) IsRange = (HH - LL) <= 20 * PipSize

  #2 (Bollinger Bands are both inside a Donchian Channel):

  //------------------------------------------------------------------------------------ // BB - Bollinger Bands BBval = 20 //6 periodi BB BBdev = 2.00 //2.00 deviazione BB BBAvgType = 0 //0 = sma BBavg = average[BBval,BBAvgType](close) //BB mean (middle line) BollUP = BBavg + ((std[BBval](close)) * BBdev) //BB Upper Band BollDN = BBavg - ((std[BBval](close)) * BBdev) //BB Lower Band //------------------------------------------------------------------------------------ // Donchian Channel // DonchianP = BBval DonchianUP = HIGHEST[DonchianP](HIGH[1]) DonchianDN = LOWEST[DonchianP](LOW[1]) //------------------------------------------------------------------------------------ IsRange = (BollUP <= DonchianUP) AND (BollDN >= DonchianDN)

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  //------------------------------------------------------------------------------------ //                            BB - Bollinger Bands BBval        = 20                                       //6     periodi BB BBdev        = 2.00                                     //2.00  deviazione BB BBAvgType    = 0                                        //0  =  sma BBavg        = average[BBval,BBAvgType](close)          //BB    mean (middle line) BollUP       = BBavg + ((std[BBval](close)) * BBdev)    //BB    Upper Band BollDN       = BBavg - ((std[BBval](close)) * BBdev)    //BB    Lower Band //------------------------------------------------------------------------------------ //                            Donchian Channel // DonchianP    = BBval DonchianUP   = HIGHEST[DonchianP](HIGH[1]) DonchianDN   = LOWEST[DonchianP](LOW[1]) //------------------------------------------------------------------------------------ IsRange      = (BollUP <= DonchianUP) AND (BollDN >= DonchianDN)

  Use the variable IsRange to take any action.

   

   

   

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  robertogozzi

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