Consolidation

Teknical

Can anyone please help me out with scanner as in the image . Stock is consolidating in upper third and in the lower third of the range and has not breached 50-day Simple moving average

markd

Patterns are very hard to get right because they take different amounts of time and range to unfold.

For yours, I think I would do something like

[group is sp500] // or your choice of universe

and [max(20, high) > max(20, sma(50, close))] // recent best high is above the 50 sma

and [min(10, low) < max(10, sma(50,close))] // more recent lowest low is below the 50 sma

and [Fast Stoch %K(20,1) > 30]
and [Fast Stoch %K(20,1) < 70] // current price between 30-70 percent of last 20 days range


I don't have my charts set up for these parameters, but the results look OK. With pattern scans you usually get some that are just what you want, and quite a few that aren't. If you get enough that are what you want, it's not worth the time to tweak the scan very much. As the market changes, you will want to tweak it again and then again, and so on.

If you get too many hits, you can limit the universe. Maybe

and [SCTR > 80]

or something likely to get better quality hits - i.e. stocks that are already moving. That line would go right below [group is sp500].

Teknical

Thank you markd...brilliant !work

markd

@Teknical

Re-reading this, I think it should include a line to insure that the 50 ma is rising. Almost everything is right now but that can change. So I would add

and [sma(50, close] > 20 days ago sma(50,close)]

above the line

and [max(20, high) > max(20, sma(50, close))] // recent best high is above the 50 sma