price channel scans - 63 days

markd

See price channel scans - 10 days for an explanation of the code below


63 day (3 month) channels.

Naturally, these occur much less frequently. Also, for longer channels (63 and 251), hitting the Middle Price Channel can also be a good set up.
Test all these scans by running them back dated - maybe 10 days in each of 3 months starting at least three months ago. Results will vary with the state of the market. Sometimes 6 or 8 of 10 will work out, other times maybe 2 of ten, if that. Also, you may get no hits, sometimes for days in a row. Remember to add Fast K and/or price channels to a chart style for viewing the results. Also, you want to get a feel for charts where the scan works and where it doesn't. Look for "trendy" stocks, stay away from "choppy" ones. Look at monthly and maybe 2 year weekly stocks to qualify them.

***

Close or low crosses into the lower 20 % of the the three month range


// K63 has been above 80 in last 63 days; if you don't get enough hits, try commenting out this line.
and [1 day ago max(63, Fast Stoch %K(63,1)) > 80]

// K63 has not been below 20 recently - avoid hits on K63 returning to 20 in weak market
and [1 day ago min(63, Fast Stoch %K(63,1)) > 20]

and

[

// close crosses into bottom 20 % of 3 mo range
[20 x Fast Stoch %K(63,1)]

or

// only low crosses into bottom 20 % of 3 mo range
[ 1 day ago min(63, low) + [ [1 day ago max(63, high) - 1 day ago min(63,low)] *.2] x low ]

]

***

Close or high crosses into the top 20% of 3 month range:

// K63 has been below 20; if not enough hits, try commenting out this line
and [1 day ago min(63, Fast Stoch %K(63,1)) < 20]

// K63 has not been above 80 recently
and [1 day ago max(63, Fast Stoch %K(63,1)) < 80]

and
[

// close crosses into top 80 per cent of 63 day range
[Fast Stoch %K(63,1) x 80]

or

// or high x 80 instead of close
[high x 1 day ago min(63, low) + [ [1 day ago max(63, high) - 1 day ago min(63,low)] *.8] ]
]

***

In a strong trend, price often won't reach the Fast K 20/80 levels, but will reach 50, which can be a good set up.


This is crossing the mid channel from above:

// K63 has been above 80 in past *2* months
and [1 day ago max(42, Fast Stoch %K(63,1)) > 80]

// K63 has not been below 50 recently
and [1 day ago min(21, Fast Stoch %K(63,1)) > 50]

and
[

// close crosses mid channel into bottom 50 per cent of 63 day range
[50 x Fast Stoch %K(63,1)]

or

// or low crosses mid channel
[1 day ago min(63, low) + [ [1 day ago max(63, high) - 1 day ago min(63,low)] *.5] x low ]
]


This is crossing the mid channel from below:

// K63 has been below 20 in past *2* months
and [1 day ago min(42, Fast Stoch %K(63,1)) < 20]

// K63 has not been above 50 recently
and [1 day ago max(21, Fast Stoch %K(63,1)) < 50]

and
[

// close crosses mid channel into bottom 50 per cent of 63 day range
[Fast Stoch %K(63,1) x 50]

or

// or low crosses mid channel
[high x 1 day ago min(63, low) + [ [1 day ago max(63, high) - 1 day ago min(63,low)] *.5] ]
]