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Registered User
Joined: 3/20/2005
Posts: 17
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The time frame is about one month range. Thanks!
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Worden Trainer
Joined: 10/1/2004
Posts: 4,308
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accutrading:
Please check out this training video that demonstrates a technique for finding stocks bouncing in a lateral channel. I think it will provide tha answers you need for double tops and double bottoms.
Scan for stocks bouncing in a lateral channel
- Doug
Teaching Online!
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Worden Trainer
Joined: 10/1/2004
Posts: 18,819
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The technique in the video finds stocks with similar tops and bottoms over a certain time period (you choose this). All you will need to add is a larger time frame price performance condition (like Price Percent Change 26-weeks) to set the pattern happening within the context of an overall up or down trend.
- Craig
Here to Help!
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Registered User
Joined: 1/11/2006
Posts: 10
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I've been playing around with this scan. Are there any formulas I could add that would show stocks trading near the top or the bottom of their range?
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Worden Trainer
Joined: 10/1/2004
Posts: 18,819
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Use this PCF (but change the 10 to fit the period of your desired range)
100*(C-MINL10)/(MAXH10-MINL10)
This will return the close today as a percent of the total range. Sort any WatchList by it to see how it works.
Here are two videos to review:
How to create a Personal Criteria Forumula (PCF)
Create your own stock rankings using WatchLists and Sort conditions
You could also just use a Stochastic for that period:
STOC10.1 for example.
- Craig
Here to Help!
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