s.c.a.n.
Home› Scanning
New Members: Be sure to confirm your email address by clicking on the link that was sent to your email inbox. You will not be able to post messages until you click that link.
Options

Breaking Out of a Base

Mojo2112Mojo2112 ✭
in Scanning
How do I create the following scan:

1) Stock was in a basing pattern (narrow trading range) for X period of time.
2) Stock recently spiked in volume and price.

Comments

  • Options
    markdmarkd mod
    There is no basing pattern indicator, so you have to decide how to define one using overlays and/or one or more indicators. Basing periods vary in length from weeks to months, so no one scan will catch all of them.

    You should look at a lot of charts with basing patterns and try out different combinations of overlays and indicators and see what you can find in common among the charts. Price channels of different lengths is probably a good place to start.
  • Options
    Mojo2112Mojo2112 ✭
    Understood that no one scan will catch 'em all. Hoping to get more detail / examples on the types of scans that have worked for people.
  • Options
    markdmarkd mod
    edited February 2018
    You could try a channel breakout where the channel has been flat for some period of time. So, close x upper price channel, x day ago UPC = y days ago UPC
  • Options
    Mojo2112Mojo2112 ✭
    Thanks for that.
Sign In or Register to comment.