code for consolidation breakout

I think we'll need a little more information before we can help you write a scan.

What does a consolidation look like to you?

Which indicator(s) and/or overlay(s) would you use to identify a consolidation?

Note that no two consolidations will be exactly alike, so no matter what you choose, it will miss some consolidations you would like to see, and include some that aren't really what you want. But something is better than nothing, so give it some thought and let us know.

You could start with Chart School on this site. Many of the articles recommend books for further reading. I think maybe Bollinger Bands, Bandwidth, maybe %B indicator would help with your question. Maybe also Price Channels.

I would just add, there are no right answers. But to come up with a scan, for the computer's sake you have to be very specific about what you want - for instance, you said 5 weeks, which is specific, but what is a "narrow range" to you - 1 point, 5, 10, 20? What's higher volume? higher than yesterday? the 10 day average? the 50 day average? And so on. It takes a while, sometimes quite a while to figure out what you really want. But it's doable with some patience. Just take it one step at a time and then put the steps together.

Others might want to weigh in as well with other suggestions.

Hi 36Kashili

OK. That's good. A few more questions:

1 - what is the length of the average for volume?

2 - ATR is already an average, so I'm not sure what you are thinking here.

Do you want ATR(25) > 1 day ago ATR(25)*2?

You probably won't get any hits with this (try it), because an average will rarely double in one period (because an average is calculated by dropping the last term and adding the new one, so the new value is diluted by subtracting it from the dropped value and dividing the remainder by the length of the average. Even a very large new number will only move the average a relatively small amount).

or do you want range > 1 day ago ATR(25)*2

This can work. Today's range is twice the average of the true ranges that occurred over the last 25 days (5 weeks).

or do you want range > sma(25, ATR(?)) * 2

This can work, too, but it's different from the last one. This one says today's range is 2x the 25 day average (sma(25,...)) of the average true range over some period (ATR(?)). In practical terms, the results probably would not be much different, unless the ATR(?) parameter - ? - is something dramatically different from 25.