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How to scan for daily or weekly volume in excess of X% of outstanding shares
I'm looking for how to scan for a stock trading > X% of outstanding shares. I'd like to find names which have traded a significant % of shares available on an upside breakout.
Does anyone have any ideas?
and [volume > outstanding shares * .4]
doesn't parse. Neither does
and [volume > [outstanding shares] * .4]
or other variations that I could think of.
On the other hand, if you scan for something like
and [volume > sma(21,volume) * 5]
in other words, five times average volume in a month, you would probably get a satisfactory result. That's a rare occurrence, and would probably be meaningful in a breakout pattern.