Within the past few months i've seen a lot of stocks which are in a consolidation range, undercutting the lowest low and then finally setup to a new high und running through into new high ground. The idea behind that is the following:

Stock must be in an uptrend (sma200 is rising)

Stock must be in a consolidation range/area

3 days a go, stock must make a new low for the past N trading days

2 days a go, the low must be lower and the close must be higher than the day before

1 day a go stock must be higher than the previous day

 Usually there is also a volume pattern behind that but that's something i have to sort out first.

What would be the appropriate PCF Formula for such a setup?

Thanks 

I do not know how you want define consolidation, but the following checks for a 14 period ADX being less than 25. I also do not know how you wanted to do stock must be higher than the previous day, so I used the close is higher than the previous close. I used 20 for N trading days (which can be easily changed).

C > C200 AND ADX14.14 < 25 AND C1 > C2 AND L2 < L3 AND C2 > C3 AND L3 < MINL20.4

Hi Bruce, 

That formula is pretty close to my idea. Just made a small change to make sure that the price is over the sma200:

C > AVGC200 and ADX14.14 < 25 AND C1 > C2 AND L2 < L3 AND C2 > C3 AND L3 < MINL20.4

It seems to give me a much closer result than just a rising sma200.

I am happy to read you found the formula to be a good place to start.