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Scan Help

Looking to setup a scan that will detect a break of 52 week high while closing within 2.5% of the previous high. The scan that I am creating just giving every 52 week high because it is just generally within 2.5% of the previous day.

But I am trying to make a scan that shows consolidation within a price range near 52 week high and a break of it while closing only within 2.5% of 52 week high.

This is what I have so far:

[type = stock] AND [Daily SMA(20,Daily Volume) > 40000]

and [close > 5]

and [Daily close / max(360, daily close) <= 1.025]



I am new to this and would appreciate any help

Comments

  • markdmarkd ✭✭✭
    If you want to use price channels, you might test for max price high for some period prior to the 52 week (251 day) crossover within some per cent of the upper price channel within that same period.

    So, something like

    // there has been a high within 20 per cent of the upper price channel
    // in the 21 day period ending 21 days ago
    and [21 days ago max(21, high) > 21 days ago max(21, Upper Price Chan(251)) * .8]

    // there was not cross above the upper price channel in that time
    and [21 days ago max(21, high) < 21 days ago max(21, Upper Price Chan(251))]

    That should get price near the upper price channel at least once.

    If you want a range, then you would have to test for the min low above some level relative to the upper price chan in the same period.

    Sorry, don't have time to test this solution, but it seems right.
  • I will try this out...really appreciate our input in this and taking your time to reply to my post.
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