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platform compression pattern
I am attempting to find (or create) an indicator that will tell what percent (0-100) the Chaikin oscillator is within its (high-low) range. The purpose is to identify "platform compression pattern" The pattern is formed when the Chaikin Oscillator takes on a minimal value for an extended period of time. Sample attached
One problem is that "minimal value" takes on a very different range depending on the volume traded, e.g. for MSFT with volume around 300 million, "minimal" Chaikin Oscillator might range within +/- 10 million. Whereas PACW with volume around 1 million, a "minimal" Chaikin Oscillator may range within +/1 10 thousand. Therefore the value of the oscillator itself cannot be used
I have tried correlating the oscillator with some bounded oscillator such as ADX or PPO but have been unable to find anything that reasonably correlates. It sounds to me that the answer would be a stochastic. ("The Stochastic Oscillator measures the level of the close relative to the high-low range over a given period of time").
I tried " [ 0 DAYS AGO Slow Stoch %K(14,3, Chaikin Osc(6,10)) < 20] ", for a succession of "days ago", but zero stocks returned.