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Scan for Stocks in Trading Range

sokab123
sokab123 ✭
in Scanning
How would you create a scan that will find stocks that are in a weekly trading range, not trending up and not trending down?
Thanks in advance.

Comments

  • markd
    markd mod
    You need to define what is a range for you - how wide can the range be, and how long does it have to go on?

    There's more than one way to do it. Here's one approach. You can try varying the parameters to see how the results change:

    [exchange is NYSE]

    // this is intended to get lower highs over the specified time frame
    and [weekly max(20, weekly high) < 20 weeks ago weekly max(20, weekly high)]

    // this is intended to get higher lows
    and [weekly min(20, weekly low) > 20 weeks ago weekly min(20, weekly low)]

    // this is intended to limit the spread between the highs and the lows
    and [weekly max(20, weekly high) < 20 weeks ago weekly min(20, weekly low)* 1.2]
  • markd
    markd mod
    Also, enter the word "range" in the search window at the top of the page for other ideas.

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