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BREAK OUT FROM CONSOLIDATION AREA Rate this Topic:
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OWO
Posted : Tuesday, October 25, 2011 3:04:46 PM
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Joined: 5/7/2010
Posts: 13
CAN YOU HELP ME WITH SCAN OR PCF FOR BREAKING OUT FROM CONSOLIDATION. THANK YOU.
Bruce_L
Posted : Tuesday, October 25, 2011 3:23:48 PM


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Joined: 10/7/2004
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What are your particular unambiguous objective defniitios of "breaking out" and "consolidation"?

-Bruce
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OWO
Posted : Tuesday, October 25, 2011 3:42:21 PM
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Joined: 5/7/2010
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I want to see consolidation or bassing stocks for a few days ( the kind I can put a rectangle box around) and then a candlestick that is higher than the consolidation area. May be a gap or just a candlestic that breakout above the consolidation area. thanks.
Bruce_L
Posted : Tuesday, October 25, 2011 3:48:22 PM


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Joined: 10/7/2004
Posts: 65,010
I cannot algorithmicly define what you might see as a rectangle as that would be a subjective or an "I know it when I see it" type" description. What is required to identify something using a Condition Formula or Scan is as specific unambiguous definition. It needs to be objectively defined.

Is a few days the same as three days or some other number? Is the box defined by being within a certain net range or possibly a certain percent range compared to price, daily range, a longer period average or maximum range or something else entirely?

-Bruce
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OWO
Posted : Tuesday, October 25, 2011 4:42:59 PM
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I would define consolidation as when a stock that has not move +2% or more or - 2% or more new high or low in 10 or more trading sessions, and broke out of this range with a move of +1.5% or -1.5% or more new high or low from this range that is has been in for at least 10 trading sessions.Thank you.
Bruce_L
Posted : Tuesday, October 25, 2011 4:51:55 PM


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Joined: 10/7/2004
Posts: 65,010
I may be misunderstanding the definition, but you may wish to try using the following Daily Condition Formula as a Sort or Scan Condition:

MAXH10.1 / MINL10.1 <= 1.02 AND (C >= 1.015 * MAXH10.1 OR C <= .985 * MINL10.1)

Indicators, Sorting & Scanning
PCF Formula Descriptions
Handy PCF example formulas to help you learn the syntax of PCFs!

-Bruce
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OWO
Posted : Tuesday, October 25, 2011 7:27:51 PM
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Posts: 13
Thanks you
Bruce_L
Posted : Wednesday, October 26, 2011 7:15:51 AM


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Joined: 10/7/2004
Posts: 65,010
You're welcome.

-Bruce
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