Hi Bruce,

Hoping you can give me a hand. I'm interested in an EasyScan that identifies stocks with both (a) low to moderate price volatility and (b) low price daily ranges. I want to identify charts that are more like, for example, MasterCard (MA) as opposed to Fx Energy (FXEN) (both using 6 day timeframes, i. e., approx. 2002 - 2013).

I've written several indicators and EasyScans but they're all rather erratic.

If you've already addressed this topic, can you provide a link to your solution?

Thanks much for your superb technical support.
 

Kamuela34

Standard deviation, standard error (linear regression curve fit error), R-Squared, the K-Ratio and the Chande Trend Index (CTI) might all be used to check for a regular or steady price pattern. I am sure there are lots of other possibilities as well, but these are what come to mind.

Modelling Bollinger Bands (& Standard Deviation) in a TC PCF
Need help writing a PCF for r-squared
LR vs K-RATIO
Chande Trend Index (CTI)

The simplest of these to use in an EasyScan would be standard deviation. This is because you could add a Bollinger Bandwidth indicator to the chart, adjust its settings as desired and then click on it and select Create Scan Condition to check for the Bollinger Bandwidth to be below a certain arbitrary value. The period of the Bollinger Bandwidth and the value under which you would want it to return true would be up to you.

Create Conditions from Your Chart

As to the individual bars having a narrow range, you might want to try Average True Range. Again, the exact period and arbitrary value under which you would want ATR to return true would be up to you. You would then want to include both of the conditions in the same EasyScan as EasyScan Conditions.

Building a Scan with Multiple Conditions