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How to scan for high volume with a narrow daily price range
Good day all! Can someone please help me build a scan which will show a >2x average daily volume, but the stock price holds with in a somewhat narrow trading range. How narrow i'm still deciding, so I dont have that specifically. and, to get fancy, can we have the scan just not built for today or yesterday but perhaps to look back over the course of say 10 trading days? thanks gang!
Perhaps we can help if we know what the problem area is.
[type = Stock]
and [ volume > SMA (20, volume) * 3 ]
As for the range I suggest starting with the ATR (average true range) over a few days and require todays range to be less than that average. See the following for more details on ATR and how to write scan coding.
and [[yesterday's max(10, high) < yesterday's min(10, low) * 1.03] or [yesterday's max(5, high) < yesterday's min(5, low) * 1.03]]
Add this to gord's scan above, and this will show both 5 or 10 days sideways movement.