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Registered User
Joined: 7/2/2011
Posts: 4
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Hi
How do I define a scan for stocks that are ranging
- within a channel of low and high where the high is atleast Y percent (say 15%) from the low
- in the last X months (say 3 months)
An example would be HAL until recently.
Thanks!
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Worden Trainer
Joined: 10/7/2004
Posts: 65,138
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In looking at HAL, I really don't see what I would consider a ranging pattern recently. If I look back to mid-March through the end of July of 2011, I see something which might meet what I see as meeting your stated requirements.
The following Condition Formula looks at a period of 3-months and checks for the high being at least 15% above the low. It then divides the overall period into three equal 1-month periods and checks for the highs and lows of those periods to be within 15% of the range of the high and low of the overall period:
PCF Formula Descriptions
Handy PCF example formulas to help you learn the syntax of PCFs!
MAXH63 >= 1.15 * MINL63 AND MAXH21 >= .85 * MAXH63 + .15 * MINL63 AND MINL21 <= .15 * MAXH63 + .85 * MINL63 AND MAXH21.21 >= .85 * MAXH63 + .15 * MINL63 AND MINL21.21 <= .15 * MAXH63 + .85 * MINL63 AND MAXH21.42 >= .85 * MAXH63 + .15 * MINL63 AND MINL21.42 <= .15 * MAXH63 + .85 * MINL63
This does return True from mid-June through the end of July 2011 after the requirement has been true for at least 3-months.
Any additional refinement of the formula would require additional clarification from you as to your particular unambiguous objective definition of the pattern you are attempting to identify.
Scan for stocks bouncing in a lateral channel
EasyScan Design for Breakouts and Bouncers
-Bruce
Personal Criteria Formulas
TC2000 Support Articles
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Registered User
Joined: 7/2/2011
Posts: 4
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Thanks Bruce. Let me try the "Scan for stocks bouncing in a lateral channel" as well as what you have mentioned in this post and see what the results look like.
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Worden Trainer
Joined: 10/7/2004
Posts: 65,138
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You're welcome.
-Bruce
Personal Criteria Formulas
TC2000 Support Articles
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