Is there a way to write a scan formula, with minimum and maximum percentage of price?

Thanks,

I'm not sure I'm understand the question correctly, but I think so. For example, the following Condition Formula would check for the range of the most recent bar to be between 1% and 5% of the current price.

.01 * C <= H - L AND H - L <= .05 * C

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As an example: Stock price $10.00. With your example, would the ranges produced in the scan be between 1% $10.10 to 5% $10.50?

Thanks in advance.

Also Bruce, would it matter what time frame I used it on? What time frame would you suggest with your example of 1% mininum and 5% maximum?

My example was not a suggestion. It was just an example of showing that you could check for the range of the current bar being a certain percentage of price.

You are generally going to want to use smaller percentages for smaller time frames than longer time frames, but I cannot suggest what percentages you would want to use in any given time frame.

The formula checks for the range to be between 1% and 5% of the current price. So if the current price is $10.00, the high minus the low would need to be at least $0.10 but not more than $0.50.

This means the low could be as low as $9.50 as long as both the high and price are currently $10.00 and the high could be as high as $10.50 as long as the low and current price are currently $10.00. There are a large range of options in between these extremes.

Thanks Bruce. Happy Thanksgiving, I hope you have a nice holiday.

Hi Bruce, I tried the above formula and it's not producing what I hoped it would.

I'm not sure I can explain what I'm looking for but I'll try.

1) Lets say I"m trading on a 5 minute chart, between 1pm and 4pm, and I trade the dips.
2) Lets say in the last 3 hours there was a previous low at $10 for example, which I'll call minor support.

I'm looking for a scan that brings in stocks just above the $10 minor support level, so I can play the bounce at $10. I don't have a clue how to do this or if it's even possible.

Thank you

You could try the following Condition Formula using a Daily time frame (don't use the 5-minute time frame for the formula).

1.01 * L <= C AND C <= 1.05 * L

It checks for the current price to be between 1% and 5% above the low of the current trading day. The percentages used were entirely arbitrary and for example purposes only. You will have to decide on your own what percentages you would actually want to use.

Thanks a lot Bruce, I'll let you know how it goes.

You're welcome.