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How to make a tight range scan?

How do I make a scan that has price in a range that high and low of the range is no more than say 2% from high to low in say 20 days? I imagine its using the range scan but I don't see any literature on it. Thanks!

Comments

  • markdmarkd ✭✭✭
    This is a little complicated and you might have to play with it to get results you like. As is, it gets mainly preferred or bond-like instruments and financial ETFs. I think that's because of the 2% parameter.

    Anyway, the idea is, if the stock is in a range, at least one of the price channels (upper or lower) should be flat.

    (It doesn't have to be that way I suppose. You could test for channels converging (upper less than (or equal to!) some period ago, and lower higher than (or equal to) some period ago, and test of for the max upper less than the min lower plus some per cent ( lower *1.02, *1.05, or whatever)).

    This tests for price in a range near the flat channel.

    [exchange is NYSE]

    and

    [
    [ [Upper Price Chan(30) = 20 days ago Upper Price Chan(30)]
    and [min(20, low) > Upper Price Chan(30) * .98] ]

    or
    [ [Lower Price Chan(30) = 20 days ago Lower Price Chan(30)]
    and [max(20, high) < Lower Price Chan(30) * 1.02] ]
    ]
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