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Needing a scan to return narrow BB width
in Scanning
Trying to find the way to scan for stocks that have a extremely narrow Bollinger Band width. Would also welcome ideas of other indicators to use w this method to increase win % rate. I have tinkered w RSI & tight BB width w some success but still trying to improve win rate. Finviz cant scan for BB width to my knowledge & I have yet to find a scanner to do this, so far cant find a way to do it here... Have been doing this manually w names I follow & need a better way to cover a bigger universe of names. Would be interested in communicating w others that use BB width.
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Answers
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Probably you would want to scan for the minimum BB Width over some period of time. The longer the period of time, the more extreme the value is likely to be.
For instance:
and [BB Width(20,2) = min(63, BB Width(20,2))]
This would find symbols with the narrowest bands in 3 months.
You would have to experiment to find the most productive lookback period.
Alternatively, you could look for BB Width below some magic number - maybe 2, or 3 or 10, but that probably wouldn't be as productive unless you have a list of stocks that are similar in price and volatility.0 -
How about paring your BB width requirement with the BB. Break above upper band is bullish, break below lower band is bearish.
https://school.stockcharts.com/doku.php?id=technical_indicators:bollinger_band_width#:~:text=The BandWidth indicator can be,the lower band is bearish.
Other resources like Blog Posts are available on StockCharts.com
If you click on the magnifying glass on the upper right and select Blog Articles and put Bollinger Band Width in the search term you'll get several to many results. Arthur Hill did a series of "system trader" blog posts for StockCharts back a few years ago. Very thorough and interesting.
https://stockcharts.com/articles/arthurhill/2017/04/systemtrader---scan-code-for-bollinger-band-squeeze---plus-coding-tips-and-techniques.html0
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