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trading range scan


Is it possible to scan for stocks that are in long-term trading range such as minimum 6 month to 1 year ?



  • Something quick and dirty. It's not perfect (unlikely there is something perfect), but you could play with the parameters:

    [exchange is NASD]

    and [Upper Price Chan(251) <= 1 day ago min(126, Upper Price Chan(251))]
    and [Lower Price Chan(251) >= 1 day ago max(126, Lower Price Chan(251))]
  • The idea is that, if a stock is ranging more or less flat, its longer term price channels should be flat or converging - upper channel falling as there are no new higher prices push it up and lower channel rising as there are no new lower prices to push it down. As time passes, the channel period from the most recent highest high expires and the upper channel drops down to the next lower high in the channel period; vice versa for the lower price channel.
  • Thanks, Markd for the follow up explanation, as I was thinking about your logic for the scan.

    I will check out the scan script that you provided above. Thanks again.
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